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Siemens applies for bank license from the Federal Financial Supervisory Authorit
28.06.2010
Siemens has filed an application for the grant of a license to conduct banking business with the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht , BaFin).
The authority is currently reviewing the application. With the help of a licensed credit institution, Siemens aims to expand the product portfolio of its financial services unit, particularly in the sales finance area, add flexibility to Group financing and optimize its risk management.
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