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European defense contractor considers launching its own bank
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The European Aeronautic Defence and Space Company (EADS) is considering launching its own bank to better manage its accounts, the new chief of subsidiary Airbus said in an interview.
“Our parent company EADS is currently studying the possible advantages of founding our own bank,” Fabrice Bregier told the Sunday edition of German newspaper Die Welt.
“EADS, with some 10 billion euros ($12 billion), has strong accounts and does everything to keep its liquid assets protected. Holding a banking licence would perhaps give us more options.”
A banking licence would enable the multinational aerospace and defence group to deposit cash directly into the European Central Bank, without using traditional banks that are exposed to the eurozone debt crisis.
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