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Berlin (dpa) - More than a year before the spectacular Wirecard bankruptcy, several banks had already distanced themselves from the then Dax group - while the federal government was still campaigning for the up-and-coming fintech.
The risks were assessed as too high, said the board of directors of risk at Bayerische Landesbank and Commerzbank on Thursday in the Wirecard investigation committee of the Bundestag.
The Landesbank manager emphasized at the same time: At no point in time had any criminal acts or fraud been assumed.
The Bayerische Landesbank decided to withdraw from a joint loan from several banks in 2018 - around two years before the huge accounting scandal was exposed in summer 2020.
At this point the loan was about to be topped up - you didn't go with it.
"The focus of these considerations was: If we give 150 million euros or more out of hand, then only if we really understand the customer very, very well," said the risk director.
At this point in time, Wirecard had simply been known for too short, namely only two years.
At the same time, important questions about the business model and the complex balance sheet structure of the up-and-coming fintech remained open.
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The Commerzbank manager reported that in spring 2019 the decision was made to opt for a “soft exit”, i.e. a gradual exit from the credit relationship.
The reasons were suspected money laundering and doubts about Wirecard business in Southeast Asia.
Wirecard has promised that Commerzbank should be replaced within a year.
This prevented at least part of the damage.
"Loan defaults are simply part of the business of a bank," said the risk director.
Commerzbank worked “extremely carefully”.
The Green MP Danyal Bayaz explained that the example of the Bayerische Landesbank in particular shows "that the risks of an incomprehensible business model and accounting inconsistencies can be recognized with a thorough look".
Other banks, including well-known German banks, were negligently pestered by Wirecard because they had not checked deep enough.
A bank consortium granted Wirecard loans totaling up to 1.75 billion euros.
Commerzbank was involved with up to 200 million.
The Bayerische Landesbank had already left when the loan was increased in 2018.
Until then, she held a smaller tranche of 60 million euros.
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There were allegations and newspaper reports against Wirecard that gave rise to a detailed examination of the company, said the Commerzbank board of directors.
In the spring of 2019, a suspicious transaction report on money laundering was submitted to which the competent authority did not respond to him.
In 2019, the financial services regulator Bafin rated Wirecard as an up-and-coming company.
In the same year, Chancellor Angela Merkel supported Wirecard's expansion plans while on a trip to China.
In the summer of 2020, the now insolvent former Dax group Wirecard then admitted air bookings of 1.9 billion euros.
The company is said to have reported fake profits for years.
According to the public prosecutor's office, it could total around three billion euros.
As a service provider for cashless payments, the company sat at the interface between merchants and credit card companies.
© dpa-infocom, dpa: 210114-99-29470 / 2