Interim Report 2008 - Raiffeisenlandesbank OberÃ¶sterreich

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Global support and performance network Powerful antennae around the globe In order to maintain support efficiency at its extraordinarily high level and to keep costs as low as possible, the Raiffeisenlandesbank Oberösterreich has created a dynamic performance and support network consisting of the world’s strongest banks. 1,622 correspondence banks and 16 co-operation agreements have ensured the highest levels of quality, local support for our customers in all their projects around the globe. The conclusion of a syndicated loan to the Austrian VTB Bank (Austria) AG of EUR 85 million with 13 international banks organised by the Raiffeisenlandesbank Oberösterreich impressively demonstrates its strong international position as an effective partner. In international business, the Raiffeisenlandesbank Oberösterreich accompanied its customers with services, such as hedging export risks, letters of credit documentation, bank guarantees, and consulted on low-interest financing for export transactions. In the past three years, the Raiffeisenlandesbank Oberösterreich has achieved an annual increase of 30 percent in export financing business and of 25 percent in documentary business (import/export letters of credit, collections, bank guarantees). The Raiffeisenlandesbank Oberösterreich accompanies exporters and investors in their successful international business. In international project financing, the EBRD, EIB, IFC, LfA, KfW, the subsidy bank Baden Württemberg L-Bank and other international financing institutions all work together. Financial Markets Succeeding in fluctuating economic times This segment includes the results of the trading areas (money, foreign exchange, stocks and shares), the treasury results from interest-rate management and hedging with customers and from the management of the banking book, as well as the income from services arising from securities’ sales. In the trading areas, customer business takes priority over in-house trading and this is reflected in the high portion of income from services. Despite volatile markets and an increasingly difficult overall economic environment, the Raiffeisenlandesbank Oberösterreich performed very well in the first half of 2008. The decrease in customer securities’ business in the first half of the year was more than compensated for by outstanding results in cash management and in financing provisions. Commission business developed positively overall in the first half of 2008. Interim Report 2008 6
Invest Banking This includes the market segments portfolios, banking and financial institutes, venture and partner capital for corporates in growth or succession situations, holdings in companies with particularly interesting locations, outsourced companies whose key focus is not directly on classic banking services and real estate/public private partnership holdings. The shares in three subsidiaries, “LDZ” Landesdienstleistungszentrum Vermietungs GmbH, Passage Linz GmbH and Passage Linz GmbH & Co KG, were sold in December 2007 and the companies removed from the scope of consolidation. The items, “net interest income”, “other operating result” and “general administrative expenses” had effects on the income statement for the first half of 2008. 500 th shareholding secured In the first half of 2008, the shareholding in Energie AG represented the Raiffeisenlandesbank Oberösterreich’s 500 th shareholding. Energie AG is the most important energy supplier for the province of Upper Austria and is also a successful player in the waste management industry, particularly in Bavaria, Baden-Württemberg, the Czech Republic and the dynamic countries of Eastern Europe. Much expected of Energie AG The Raiffeisenlandesbank Oberösterreich holds the second-largest share in Energie AG after the majority shareholder, the province of Upper Austria, with 13.5 percent and has high expectations of the company. terminal tower completed Another important real estate project, the terminal tower, was handed over in the first half of 2008. This modern office building is located very near the Linz train station and is home to the Linz tax and customs offices and the pension insurance institute. The investor in this EUR 55 million project is RealRendite Immobilien GmbH (100-percent subsidiary of Raiffeisenlandesbank Oberösterreich). Handover of modern office project Raiffeisenlandesbank Oberösterreich‘s modern financing models have proven themselves over and over again: With its 100-percent subsidiary, Real Treuhand, it has successfully developed 417 projects, based on private public partnerships, with a total investment volume of EUR 2.55 billion. Interim Report 2008 7
Page 1 and 2: Interim Report pursuant to §87 of
Page 3 and 4: Half-year status report of Raiffeis
Page 5: Significant developments in the fir
Page 9 and 10: IFRS consolidated half year financi
Page 11 and 12: DEVELOPMENT OF EQUITY Subscribed ca
Page 13 and 14: SEGMENT REPORTING 1st half-year 200
Page 15 and 16: Statement of the Managing Board We

Interim Report 2008 - Raiffeisenlandesbank OberÃ¶sterreich

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