A4 für Copyshop GB.indd - Bayerische Landesbank

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150 Report by the Board of Administration, accounts of BayernLB and the BayernLB Group and notes to the accounts the translation of these balance sheet items are disclosed as a balance under “Other assets” or “Other liabilities”. Gains from the translation of other transactions hedged in the same currency are only taken into account in so far as they compensate for tempo- rary losses from the translation of hedging transactions (Section 340h, sub-section 2, sentence 3 HGB), whereas translation losses are always taken into account as revenue expenditure. The translation of currencies in the annual accounts of the subsidiaries and joint ventures included in the consolidated accounts is based on the same principles. In the consolidated accounts, the balance sheet items and the expenses and income of our foreign subsidiaries and joint ventures, unless their annual accounts have been pre- pared in euros, are translated at the spot exchange rates as per the balance sheet date. Translation gains and losses resulting from the consolidation of equity capital are set off within the revenue reserves. Group of consolidated companies The consolidated accounts include BayernLB and the nine companies shown under I in the inventory of shareholdings. In 2004, on the basis of new findings, the number of companies included in the group of consolidated companies was adjusted by three entities. The resulting adjustments of EUR 196 million were set off against the revenue reserves of the Group. LB(Swiss) Privatbank AG, Zurich, is included in proportion to its shares. Pursuant to Section 296, Sub-section 1, No. 2 HGB, one affiliated company has not been included in the consolidated accounts due to substantial and persistent restric- tions affecting long-term the exercising of rights with relation to assets and management. The remaining subsidiaries have neither been consolidated nor valued according to the equity method because they are of subordinate importance with respect to the financial position of the Group and the results of its operations. The non-consolidated combined balance sheet total of these subsidiaries comes to around 1.6 percent of the consolidated balance sheet total. Consolidation principles The consolidated accounts have been drawn up in accordance with the accounting and valuation methods applicable to the annual accounts of BayernLB. The balance sheet profit disclosed in the consolidated accounts is identical with that shown in the parent company’s individual accounts. Capital consolidation has been effected according to the book value method, using the values at the time of acquisition or first consolidation of the subsidiary. Assets-side and liabilities-side balancing items remaining after the allocation procedure laid down in Section 301, Sub-section 1, Sentence 3 HGB are netted, the balance being transferred to revenue reserves. The asset-side balancing item resulting from first-time consolida-
Report by the Board of Administration, accounts of BayernLB and the BayernLB Group and notes to the accounts tions amounts to EUR 1 million for the year under review. Claims and liabilities as well as expenses and income among the integrated group companies have been consolidated. Intra-group results from transactions within the Group have been eliminated in so far as they are not of minor significance. Joint ventures, included on a pro-rata basis in the consolidated accounts, are treated according to the same principles. Pursuant to Section 312, Sub-section 1 HGB, TxB Transaktionsbank GmbH, Aschheim- Dornach was valued in accordance with the book value method, on the basis of values stated at the time of first integration. The valuation method applied by the company has not been adjusted to the standard valuation provisions applicable to the Group. Bank für Arbeit und Wirtschaft AG, Vienna, previously included in the consolidated accounts according to the equity method, was sold on 30 June 2004. An assets-side balancing item of EUR 113 million, charged during first-time consolidation with no impact on the operating result, was set off against revenue reserves at the time of final consolidation, also with no impact on the operating result. Disclosures relating to the balance sheet and the consolidated balance sheet (excluding accrued interest, unless otherwise stated) Assets Due from banks EUR million This item includes: • Other receivables with a residual maturity of – up to three months (including accrued interest) – over three months up to one year – over one year up to five years – over five years • Due from affiliated companies • Due from companies in which investments are held • Due from affiliated savings banks • Subordinated receivables BayernLB Group 2004 2003 2004 2003 46,671 27,280 26,865 19,042 11,935 188 17,837 1,162 34,254 22,224 25,792 19,370 14,074 290 19,316 1,226 48,266 25,926 25,471 15,957 164 202 18,462 1,094 35,781 19,612 24,921 16,152 169 263 19,977 1,169 Committed but not yet disbursed building saving loans of Home Loan division • from allotment 110 104 113 109 151
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Annual Report and Accounts 2004
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LBS Bayern Corporates Business Area
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Clear figures. Clear objectives. Th
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Foreword by the Board of Management
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1 Board of Management and executive
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Dr. Rudolf Hanisch born in 1946, De
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In transforming its business model,
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Sparkassen-Finanzgruppe Bayern Baye
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Financial Statements Audit Committe
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Norbert Kastner Lord Mayor of the C
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2 Economic situation
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(Hartz IV) contributed to an overal
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An open mind. Clarity. Inspiration.
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30 BayernLB - our company } BayernL
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32 BayernLB - our company } Restruc
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34 BayernLB - our company } Cross-b
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36 BayernLB - our company } Lead ar
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38 BayernLB - our company } Coopera
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40 BayernLB - our company Real Esta
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42 BayernLB - our company Activitie
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46 BayernLB - our company New issue
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48 BayernLB - our company and the U
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50 BayernLB - our company Savings B
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54 BayernLB - our company } LBS Bay
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56 BayernLB - our company } Moderni
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58 BayernLB - our company Group ret
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60 BayernLB - our company In 2004,
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62 BayernLB - our company Support o
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64 BayernLB - our company Landesban
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66 BayernLB - our company Magyar K
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68 BayernLB - our company Banque LB
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70 BayernLB - our company LB(Swiss)
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72 BayernLB - our company Corporate
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74 BayernLB - our company } Shared
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76 BayernLB - our company } Target
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78 BayernLB - our company Our staff
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80 BayernLB - our company Fostering
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82 BayernLB - our company Public se
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84 BayernLB - our company DKB and S
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A product is only as good as the to
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4 Report on the Bank and the Group
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position and serves as a bridgehead
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Management report Assets, liabiliti
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Funding EUR billion Due to banks -
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EUR million 1.1. - 31.12.2004 Bayer
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Page 107 and 108: Outlook The forecasts relating to t
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Page 111 and 112: BayernLB’s subsidiaries (Hungaria
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Page 119 and 120: Market price risk Market risk compr
Page 121 and 122: Operational risk BayernLB defines o
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Page 127 and 128: 5 Report by the Board of Administra
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Page 133 and 134: Liabilities 1. Due to banks a) Paya
Page 135 and 136: Liabilities Report by the Board of
Page 139 and 140: Liabilities 1. Due to banks a) Paya
Page 141 and 142: Liabilities Report by the Board of
Page 153: Report by the Board of Administrati
Page 185: Complex enterprises demand reliabil
Page 188 and 189: 184 Advisory Boards and addresses T
Page 190 and 191: 186 Advisory Boards and addresses D
Page 192 and 193: 188 Advisory Boards and addresses B
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Page 198: Bayerische Landesbank Brienner Stra
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