pdf, 1996K - WestLB

Business:
Capitalisation and Indebtedness
of WestLB
servicing debts precisely at the same time they fall due. The giving of a notice as
normally required under aid law is not necessary.
As a European commercial bank based in NRW, WestLB provides commercial
and investment banking services regionally, nationally and internationally to
public, corporate and bank customers. As at 31st December, 2005, WestLB AG
and its consolidated subsidiaries (the WestLB Group) had total assets of
approximately Euro 265.0 billion. WestLB also performs the functions of a
municipal bank for NRW and for the federal state of Brandenburg
(Brandenburg) and acts as the central bank of the savings banks (Sparkassen) in
NRW and Brandenburg. It conducts a comprehensive range of wholesale
banking business and has the power to issue bonds and notes and, upon
implementation into law of the German Pfandbrief Act dated 22nd May, 2005
(Pfandbriefgesetz; the Pfandbrief Act), mortgage Pfandbriefe and public sector
Pfandbriefe. In addition, WestLB acts as the clearing and depository bank for the
savings banks in NRW and Brandenburg. Internationally, the WestLB Group
operates through an extensive network of banking subsidiaries, branches and
representative offices to provide a range of financial services to its clients.
The following table presents the unconsolidated capitalisation of WestLB as
extracted from the audited unconsolidated financial statements as at 31st
December, 2005 of WestLB pursuant to German General Accepted Accounting
Principles (GAAP) at the dates specified:
as at 31st December,
2005 2004
(in Euro millions)
Long-term debt
– Bonds and notes 26,364.5 19,683.9
– Other liabilities 15,660.1 15,261.3
Total long-term debt 42,024.6 34,945.2
Short-term debt 155,866.5 154,148.8
Total debt 197,891.1 189,094.0
Equity
– Paid in capital 2,176.6 1,794.6
– Capital reserves 2,388.3 1,561.3
– Capital contribution made to
implement the resolved capital
increase 250.0 250.0
– Retained earnings reserves – –
– Other reserves – –
– Total reserves from retained
earnings – –
– Silent participation 833.2 272.5
5,648.1 3,878.4
Equity-like positions
– Funds for general banking risks 82.0 82.0
– Participation certificates 2,335.6 2,427.7
– Subordinated liabilities 3,888.0 4,111.0
6,305.6 6,620.7
Total equity and equity-like
positions 11,953.7 10,499.1
12