A4 für Copyshop GB.indd - Bayerische Landesbank

72 BayernLB – our company
Corporate governance
While BayernLB is an unlisted, public-sector company, it nonetheless places great
importance on effective and responsible corporate management and control. In
November 2003, the bodies of BayernLB approved its own Corporate Governance Prin-
ciples, which came into effect on 1 January 2004. The Corporate Governance Principles
are largely based on the provisions of the German Corporate Governance Code drawn
up by the federal government’s dedicated commission. They comprise those regula-
tions governing corporate management and control which apply to BayernLB pursuant
to binding or self-imposed stipulations.
The bodies of BayernLB adhere to these principles in fulfilling their mandates, thus
ensuring that the Bank is managed and controlled in a responsible manner that is
geared towards value creation. The Board of Management, Board of Administration
and General Meeting have established that there is nothing to indicate that the Bank
did not comply with the Corporate Governance Principles during the 2004 financial
year.
BayernLB interprets Corporate Governance as a continuous process. For this reason,
the Corporate Governance Principles are constantly checked and, if necessary, adjusted
in line with fresh experiences and new legal requirements, and in harmony with the
evolution of national and international standards. In this way, the further development
of Corporate Governance is safeguarded.