A4 für Copyshop GB.indd - Bayerische Landesbank

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178 Report by the Board of Administration, accounts of BayernLB and the BayernLB Group and notes to the accounts Independent Auditor’s Report We have audited the annual financial statements, together with the bookkeeping system, of Bayerische Landesbank (hereinafter called “Bank”), a corporation established under public law, Munich, as well as the consolidated financial statements consisting of the Balance Sheet, P / L statement, Statement of Changes in Shareholders’ Equity, Cash Flow Statement, Segment Reporting and Notes to the Accounts and its report on the position of the Bank and the Group prepared by the Bank for the financial year from 1 January to 31 December 2004. The preparation of these documents in accordance with German commercial law and supplementary provisions in the Law on Bayerische Landes- bank in the version officially published on 1 February 2003 and its Statutes is the responsibility of the Bank’s management. Our responsibility is to express an opinion on the annual financial statements, together with the bookkeeping system, as well as on the consolidated financial statements and the report on the position of the Bank and the Group based on our audit. We conducted our audit of the annual and consolidated financial statements in accordance with Section 317 HGB (German Commercial Code) and the German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the annual and the consolidated financial statements as well as the cash flows within the Group in accordance with the principles of proper accounting and in the report on the position of the Bank and the Group are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Bank and the Group and evaluations of possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the internal control system relating to the accounting system and the evidence supporting the disclosures in the books and records, the annual and consolidated financial statements and the report on the position of the Bank and the Group are examined primarily on a test basis in line with the framework of the audit. The audit includes assessing the accounting and consolidation principles used and significant estimates made by management, as well as evaluating the overall presentation of the annual and the consolidated financial statements and the report on the position of the Bank and the Group. We believe that our audit provides a reasonable basis for our opinion. Our audit has not led to any reservations.
Report by the Board of Administration, accounts of BayernLB and the BayernLB Group and notes to the accounts In our opinion, the annual and the consolidated financial statements give a true and fair view of the net assets, financial position and results of operations of the Bank and the Group respectively as well as the cash flows within the Group during the Group’s financial year, in accordance with the principles of proper accounting. On the whole the report on the position of the Bank and the Group provides a suitable understanding of the Bank’s and the Group’s position and suitably presents the risks of future development. Munich, 29 March 2005 KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Wohlmannstetter Ufer Auditor Auditor 179
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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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Group operating expenses were down
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In the 2004 financial year, the ope
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Outlook The forecasts relating to t
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Strategy / rating Upon withdrawal o
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BayernLB’s subsidiaries (Hungaria
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Gross exposure by Group entity [%]
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Investment risk Similarly to counte
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Net exposure of the Group by countr
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Market price risk Market risk compr
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Operational risk BayernLB defines o
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5 Report by the Board of Administra
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Report by the Board of Administrati
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Page 181: Report by the Board of Administrati
Page 185: Complex enterprises demand reliabil
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Page 198: Bayerische Landesbank Brienner Stra
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A4 für Copyshop GB.indd - Bayerische Landesbank

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