A4 für Copyshop GB.indd - Bayerische Landesbank

36 BayernLB – our company
} Lead arranger
position expanded
Structured Finance
BayernLB offers structured finance solutions from almost all product lines at a national
and international level.
In 2004, project financing operations were particularly successful. Income increased
by approximately 28 percent in comparison to 2003, clearly illustrating our market
penetration and acceptance. The success of the project credit facilities totalling
USD 950 million arranged with Egyptian LNG El Behera Natural Gas Liquefaction
Company, S.A.E., is further evidence of our strong market position. The Bank was
international mandated lead arranger for this transaction. Project financing opera-
tions in Munich also demonstrated the Bank’s competence in expanding its position
as mandated lead arranger.
Of particularly benefit for export financing was 2004’s positive development of the
important supply markets of Western European machinery and equipment manufac-
turers. Demand increased in countries such as Russia, Iran, Bulgaria and Romania.
The steel and energy industries experienced what could almost be described as
a boom. These positive trends meant that record volumes of new business were
achieved. Three advisory agreements reached in Russia and Azerbaijan raised the
Bank’s profile.
Leasing and factoring business picked up in 2004, despite challenging conditions
caused by sharp declines in real estate leasing and the discontinuation of US cross-
border leasing. This revival was due to the renewed vigour applied to the acquisition
of leasing customers, as well as the Bank’s strong position in municipal leasing and
factoring. New business was increased by 51 percent year on year. Total disbursements
increased by 45 percent over the same period, while follow-up financing rose by
26 percent.
In 2004, asset-backed aircraft financing operations were marked by subdued demand
due to adverse market conditions. In addition to a new transaction aimed towards
market positioning, restructuring of difficult exposures was also a key focus. The out-
placement of 29 aircraft financing transactions in Asia, totalling around USD 190 mil-
lion, was one of the success stories of the year.
Outlook
Reaching our ambitious earnings targets while maintaining an acceptable risk profile
represents our top priority. With the launch of a consistent sales initiative, both at
home and abroad, our objective is to gain new customers, while offering a product
range that is specifically geared to their needs. Solution-oriented all-in-one approaches
remain a core focus. The opening of the German Centre and concomitant raising of the
Shanghai branch’s profile will lead to a significant reinforcement of our involvement in
China in 2005. In this market, we offer both German SMEs and multinationals solutions
that are tailored to their needs, by virtue of a customised product range.