Based in Munich, it is the publicly regulated largest bank in Germany. The Bayerische Landesbank was founded in 1971 through a merger of the Bayerische Gemeindebank founded in 1914 and the Bayerische Landesbodenkreditanstalt, its old subsidiary founded in 1884. With 7,703 employees it is recognized as the Seventh largest financial institution in Germany, offering a universal range of banking services and products to private and commercial customers in private, industrial, investment, and foreign business, including loans, securities trading, and asset management, mid-term and long-term bond issuance and securitization.