AIR Airbus SE

By Marion Halftermeyer

PARIS--Airbus Group (AIR.FR) said Tuesday that it completed the acquisition of Salzburg Munchen Bank AG through a share purchase agreement that will allow the French aircraft manufacturer to establish its own in-house bank.

With its own bank, Airbus will be able to provide additional financing options for airlines, that previously struggled to raise financing due to a contraction in bank lending during the financial crisis.

The bank, formerly owned by Austrian banking group Raiffeisenverband Salzburg, will be renamed Airbus Group Bank in the third quarter of 2014 and had 330 million euros ($442 million) worth of assets at the end of 2013.

Airbus didn't disclose how much it paid for the bank.

Write to Marion Halftermeyer at marion.halftermeyer@dowjones.com

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