A4 für Copyshop GB.indd - Bayerische Landesbank

32 BayernLB – our company
} Restructuring
measures largely
implemented ahead
of plan during 2004
offered by the growth region of Eastern Europe are to be selectively exploited. Market
development is to be carried out primarily from Munich. Moreover, the Bank plans to
expand its subsidiary MKB into attractive neighbouring markets.
Essential measures aimed at focusing and boosting efficiency were implemented in
2004. Far-reaching changes to the Bank’s structural and procedural organisation last
year led to staff restructuring measures, resulting in the termination of around 1,000
jobs in 2003 and 2004. However, target figures were reached early, meaning that
restructuring could be brought to a close in 2004. Other personnel-specific measures
aimed at training and recruiting junior staff and rewarding top performers were
pursued.
Landesbausparkasse (LBS) and Landesbodenkreditanstalt (Labo), the Bank’s legally
dependent institutions, continue to conform their resources and costs to the market
and to the earnings situation. This also applies for subsidiaries of strategic significance
to the Group, namely DKB, MKB, SaarLB, Banque LBLux and LB (Swiss) Privatbank.
Network of the Sparkassen-Finanzgruppe Bayern
In December 2003 a master contract between the Association of Bavarian Savings
Banks and BayernLB was signed. This agreement regulates the framework conditions
for market development in cooperation with the savings banks as well as the establish-
ment and use of joint centres of competence. On 1 February 2005, 76 of the 80 Bavarian
savings banks signed individual agreements governing cooperative market develop-
ment and collaboration with the centres of competence. This shows that the deve-
lopment and expansion of the Sparkassen-Finanzgruppe Bayern network is on the
right track.
The 2004 joint “IT Bayern” project represents another important step in the coopera-
tion of Bavarian savings banks and BayernLB with its dependent institutions Bayerische
Landesbausparkasse (LBS) and Bayerische Landesbodenkreditanstalt. The aim is to
bundle the information technology of the companies involved into IZB SOFT in order
to create a shared system house. The necessary legal and organisational requirements
for IT bundling will have been met by mid-2005. The next stage involves the step-by-
step transfer of systems and applications. This process takes into consideration the
needs of day-to-day business and projects to be implemented.
Performance of the participations portfolio
The Bank’s participations are oriented towards and measured against clearly defined
strategic objectives. While the strategic participations serve primarily to support and
round off the Bank’s core activities, financial participations are acquired with the aim
of achieving a specific return on investment.