Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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Notes to the annual financial statements of Landeskreditbank Baden-Württemberg – Förderbank – for the financial year ended December 31, 2002 Transactions involving derivatives Transactions involving derivatives – by volume (incl. commercial transactions) Interest rate risks Dec. 31, 2002 Dec. 31, 2001 Dec. 31, 2002 Dec. 31, 2002 Nominal values Nominal values Credit risk equivalents Replacement costs EUR million EUR million EUR million EUR million • Interest rate swaps ...................... 72,138 67,845 625 2,028 • FRAs ................................ 0 250 0 0 • Interest rate options – sold ................ 0 0 0 0 • Caps ................................. 895 895 0 0 • Stock exchange contracts ................. 110 120 0 0 Total interest rate risks .................. 73,143 69,110 625 2,028 Currency risks • Forward exchange deals ................. 176 103 1 2 • Cross-currency interest rate swaps ......... 3,600 1,642 55 41 Total currency risks .................... 3,776 1,745 56 43 Credit derivatives • Credit default swaps – protection seller ..... 525 0 322 1 Transactions involving derivatives Dec. 31, 2002 Dec. 31, 2001 Dec. 31, 2002 Dec. 31, 2002 Nominal values Nominal values Credit risk equivalents Replacement costs EUR million EUR million EUR million EUR million • Credit-linked notes – protection seller ....... 255 0 255 255 Total credit derivatives ................ 780 0 577 256 All credit default swaps have been assigned to investments and appear under contingent liabilities at their nominal value. Credit-linked notes are shown under securities. Transactions involving derivatives Dec. 31, 2002 Dec. 31, 2001 Dec. 31, 2002 Dec. 31, 2002 Nominal values Nominal values Credit risk equivalents Replacement costs EUR million EUR million EUR million EUR million Transactions involving derivatives – commercial transactions – Interest rate contracts ..................... 3,879 4,139 32 100 Total .................................... 3,879 4,139 32 100 F-62
Notes to the annual financial statements of Landeskreditbank Baden-Württemberg – Förderbank – for the financial year ended December 31, 2002 Statement on tax liability Under § 5 para. 1 no. 2 of the Corporation Tax Act (Körperschaftsteuergesetz [KStG]) and § 3 no. 2 of the Trade Tax Act (Gewerbesteuergesetz [GewStG]), Landeskreditbank Baden-Württemberg – Förderbank is exempt from corporation tax and trade tax. L-Bank’s equity holdings pursuant to § 285 no. 11 HGB No. Name/Registered office Holding in% (direct) Equity capital Net income/loss 1) in EUR ’000 in EUR ’000 1.0 . Austria Beteiligungsgesellschaft mbH, Stuttgart ...................... 33.34 35,670 805 2.0 . Industriepark Gottmadingen AG, Gottmadingen ...................... 100.00 5,740 (**) 3.0 . MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, GmbH, Stuttgart ............................................. 26.80 15,197 1,402 4.0 . PT German Centre Indonesia, Bumi Serpong Damai, Indonesia .......... 83.67 –7,391(*) –4,056(*) 5.0 . Technologiepark Karlsruhe GmbH, Karlsruhe ........................ 96.00 3,310 –486 6.0 . Technologieparks Tübingen-Reutlingen, Tübingen .................... 100.00 1,752 –218 7.0 . StEP Stuttgarter EngineeringPark GmbH, Stuttgart .................... 100.00 10,147 –970 8.0 . Business-Park Göppingen GmbH, Göppingen ........................ 40.00 3,119 26 9.0 . STAIR Stuttgart Airpark GmbH, Stuttgart ........................... 100.00 1,375 –625 10.0 Mentasys GmbH, Karlsruhe ...................................... 32.00 1,646 –379 11.0 detectis GmbH, Freiburg ......................................... 39.43 791 –413 12.0 Sympore GmbH, Reutlingen ...................................... 27.95 –1,883 –2,166 13.0 Complexio GmbH, Freiburg ...................................... 33.80 (***) (***) 14.0 Elexxion GmbH, Radolfzell ...................................... 36.00 (***) (***) (*) Exchange rate: 1 euro = 9,188 rupiah (**) Profit and loss transfer agreement existed until June 30, 2002 (***) Established in 2002 1) Last available financial year in each case Equity investments in non-affiliated companies pursuant to § 340a para. 4 no. 2 HGB No. Name/Registered office 1.0 Baden-Württembergische Bank AG, Stuttgart F-63
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INTERNATIONAL PROSPECTUS SUPPLEMENT
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ISSUER Landeskreditbank Baden-Würt
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TABLE OF CONTENTS Use of Proceeds .
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EXCHANGE RATE INFORMATION The follo
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Maturity, Repurchase Maturity. The
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the rules of such stock exchange pe
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THE CLEARING SYSTEMS DTC DTC is a l
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Cross-market transfers between pers
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For the purposes of this provision,
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These activities by the managers or
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You should rely only on the informa
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PROSPECTUS SUMMARY The following su
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APPLICATION OF PROCEEDS As may be m
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(4) Loans to customers (i.e., non-c
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transferred to independent subsidia
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Our housing-related activities are
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(1) Holdings in companies for strat
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Loan Portfolio Risks We maintain a
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securities portfolio. In accordance
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The following table shows our borro
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authorized limits. A daily risk and
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MANAGEMENT INFORMATION Introduction
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credit institutions increased by 10
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To control the risks of unhedged po
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RECENT DEVELOPMENTS Development of
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MANAGEMENT Board of Management Our
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Wirtsch.-Ing. Bernd Bechtold Presid
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REGULATION AND SUPERVISION OF L-BAN
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non-banking corporations if the use
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Covering Market Risk Positions Mark
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ank, and the aggregate nominal valu
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may at any time change the reserve
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The Entschädigungseinrichtung GmbH
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ECONOMY General Germany The economy
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Industrial Structure General Positi
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The following table shows the amoun
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The Euro-zone follows a mutual mone
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Revenue Equalization While the Germ
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For more detailed information regar
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Outstanding Principal Maturity Amou
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DESCRIPTION OF THE DEBT SECURITIES
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(iv) a waiver by the holders of the
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CURRENCY CONVERSION RATES The follo
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TAXATION UNITED STATES FEDERAL INCO
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number of complete years to maturit
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will equal such U.S. Holder’s ini
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using the constant yield method des
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We have included the federal income
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Capital gains resulting from the di
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SUMMARY OF CERTAIN DIFFERENCES BETW
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The credit risk of the loan and sec
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Under U.S. GAAP, repurchased debt s
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LIMITATIONS ON ACTIONS AGAINST THE
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GLOSSARY This glossary describes ce
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Administrative loans, which are loa
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Depreciation and accumulated amorti
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Landeskreditbank Baden-Württemberg
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Balance sheet as at December 31, 20
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Statement of income for the period
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Notes to the annual financial state
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Notes to the annual financial state
Page 124 and 125: Notes to the annual financial state
Page 132 and 133: Authorities of Landeskreditbank Bad
Page 134 and 135: Proposal of the Board of Management
Page 136 and 137: FINANCIAL STATEMENTS OF L-BANK AS O
Page 138 and 139: Landeskreditbank Baden-Württemberg
Page 140 and 141: Landeskreditbank Baden - Württembe
Page 154 and 155: Directorships held by members of th
Page 156 and 157: State government deputy representat
Page 158 and 159: Independent Auditors’ opinion We
Page 178 and 179: Directorships held by members of th
Page 180 and 181: Authorities of Landeskreditbank Bad
Page 182 and 183: Proposal of the Board of Management
Page 184 and 185: Debt of L-Bank at December 31, 2004
Page 186: Debt Securities
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Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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