annual report - Hypo Real Estate Holding AG

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Group Accounts We also report to you if, in our opinion, any information specified by law regarding Directors’ remuneration and Directors’ transactions is not disclosed and, where practicable, include such information in our report. We read the other information contained in the Annual Report and consider whether it is consistent with the audited financial statements. The other information comprises only: Business Principles, Corporate Highlights 2007, Management Discussion, Business Performance and the Directors’ Report. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information. Basis of audit opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Directors in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Group’s and company’s circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. Opinion In our opinion: the Group financial statements give a true and fair view, in accordance with IFRSs as adopted by the European Union, of the state of the Group’s affairs as at 31 December 2007 and of its profit and cash flows for the year then ended; the parent company financial statements give a true and fair view, in accordance with IFRSs as adopted by the European Union as applied in accordance with the provisions of the Companies Acts 1963 to 2006, of the state of the parent company’s affairs as at 31 December 2007 and of its cash flows for the year then ended; the financial statements have been properly prepared in accordance with the Companies Acts, 1963 to 2006 and Article 4 of the IAS Regulation and the European Communities (Credit Institutions : Accounts) Regulations, 1992. 86
Risikoberichtbericht We have obtained all the information and explanations which we consider necessary for the purposes of our audit. In our opinion proper books of account have been kept by the company and proper returns adequate for our audit have been received from branches of the company not visited by us. The company balance sheet is in agreement with the books of account. In our opinion, the information given in the Directors’ Report is consistent with the financial statements. The net assets of the company, as stated in the company balance sheet, are more than half of the amount of its called-up share capital and, in our opinion, on that basis there did not exist at 31 December 2007 a financial situation which, under Section 40 (1) of the Companies (Amendment) Act, 1983, would require the convening of an extraordinary general meeting of the company. PricewaterhouseCoopers Chartered Accountants and Registered Auditors Dublin, Ireland 25 March 2008 87
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2007 DEPFA BANK plc annual report
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Profile ❚ The only globally opera
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■ Europe incl. EMEA and CIS (Lond
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Risikoberichtbericht Accounts 76 Di
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Millau Viaduct, France
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Client: The Region of Campania, Ita
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Corporate Highlights 2007 10 10 Q1:
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John Kirwan: “This award winning
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Executive Directors 14 Paul Leather
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Dr. Christian Kummert: “Probably
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Management Discussion - Segments Ma
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Management Discussion - Segments co
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Management Discussion - Segments be
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Management Discussion - Segments Di
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Management Discussion - Segments in
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Capital Beltway HOT Lanes in Virgin
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Aguas de Portugal (AdP), Portugal
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Public Sector and Infrastructure Fi
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Public Sector and Infrastructure Fi
Page 40 and 41: Public Sector and Infrastructure Fi
Page 42 and 43: Vincent Matrone: “We were the lea
Page 44 and 45: Marnin Lebovits: “The State of Mi
Page 50 and 51: Export-Import Bank of Korea
Page 54 and 55: Sam Miller: “The transaction with
Page 56 and 57: Puerto Rico Sales Tax Financing Cor
Page 58 and 59: Energinet, Denmark
Page 60 and 61: Management Discussion - Segments Cl
Page 62 and 63: Management Discussion - Segments DE
Page 64 and 65: Management Discussion - Segments Re
Page 66 and 67: Management Discussion - Segments Th
Page 68 and 69: Project Omega, Northern Ireland
Page 70 and 71: Business Performance Business Perfo
Page 72 and 73: Business Performance Balance Sheet
Page 74: Business Performance forms of capit
Page 77 and 78: Client: Bulgarian State Railways (B
Page 79 and 80: Client: Royal BAM (BAM PPP Limited)
Page 81 and 82: Risk Committee Ms. B. von Oesterrei
Page 83 and 84: Directors’ and Secretary’s inte
Page 85 and 86: Risikoberichtbericht The credit pro
Page 87 and 88: Risikoberichtbericht Branches outsi
Page 89: Risikoberichtbericht Independent Au
Page 93 and 94: Risikoberichtbericht Consolidated b
Page 95 and 96: Consolidated statement of changes i
Page 97 and 98: Consolidated cash flow statement Ca
Page 99 and 100: Notes to the consolidated financial
Page 101 and 102: Risikoberichtbericht Expenses incur
Page 103 and 104: Risikoberichtbericht (b) Loans and
Page 105 and 106: Risikoberichtbericht Hedging deriva
Page 107 and 108: Risikoberichtbericht (vi) observabl
Page 109 and 110: Risikoberichtbericht Cash and cash
Page 111 and 112: Risikoberichtbericht Share capital
Page 113 and 114: Risikoberichtbericht Standards, ame
Page 115 and 116: Risikoberichtbericht Credit Committ
Page 117 and 118: Risikoberichtbericht Asset and Liab
Page 119 and 120: Risikoberichtbericht The portfolio
Page 121 and 122: Risikoberichtbericht Assessing cred
Page 123 and 124: Company On-Balance Sheet December 2
Page 125 and 126: Company On-Balance Sheet December 2
Page 127 and 128: DEPFA’s Counterparty Risk Pools R
Page 129 and 130: Risikoberichtbericht Credit Risk Ma
Page 131 and 132: Risikoberichtbericht Further Credit
Page 133 and 134: DEPFA Deutsche Pfandbriefbank AG
Page 135 and 136: Risikoberichtbericht As can be seen
Page 137 and 138: The HRE Group risk management commi
Page 139 and 140: Risikoberichtbericht As at 31 Decem
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Risikoberichtbericht As at 31 Decem
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Risikoberichtbericht 5. Operational
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Risikoberichtbericht 7. Compliance
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Risikoberichtbericht Taxation The t
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Risikoberichtbericht Corporate Infr
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6. Net interest income Interest and
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10. Other operating income Other op
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Risikoberichtbericht 14. Result fro
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Risikoberichtbericht Operating expe
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Cashflows from discontinued operati
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17. Trading assets 18. Derivative f
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Risikoberichtbericht Futures are st
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Risikoberichtbericht At 31 December
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Allowance for losses on loans and a
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Shares in Group undertakings are in
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24. Property, plant and equipment R
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29. Debt securities in issue 30. Ot
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Deferred income tax assets and liab
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(b) Loan commitments Risikoberichtb
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Details of the share awards of Hypo
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40. Other reserves Unrealised gains
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Risikoberichtbericht 45. Fair value
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Company 2007 Risikoberichtbericht F
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Risikoberichtbericht 47. Acquisitio
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Risikoberichtbericht 49. Capital ma
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Nicosia Branch 10 Diomidous Street,
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DEPFA BANK plc Member of Hypo Real
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