A4 für Copyshop GB.indd - Bayerische Landesbank

Management report
Assets, liabilities and earnings position
The annual accounts for 2004 were considerably influenced by BayernLB’s business
model. While the retail-oriented subsidiaries tended to be acquisition-oriented in their
market activities, the Bank itself continued to phase out large, higher-risk segments of
its customer credit business. At the same time, the Bank took comprehensive measures
aimed at safeguarding and stockpiling liquidity for the time following the withdrawal
of the state guarantee mechanisms on 18 July 2005.
The balance sheet total for BayernLB (including LBS and Labo) increased by 4.7 percent
to EUR 285.6 billion. Once again, a weak US dollar tempered this amount in the equiv-
alent of EUR 3.1 billion (1.1 percent). In Germany, the Bank’s business volume grew by
12.3 percent (to reach EUR 245.3 billion). International business, in contrast, reported
continuing decline (down 25.7 percent to EUR 40.3 billion).
The increase in the consolidated balance sheet total was more marked: up 6.3 percent
to EUR 333.1 billion. The largest subsidiaries were again DKB, posting a balance sheet
total of EUR 28.3 billion, followed by SaarLB (EUR 17.5 billion), Banque LBLux (EUR 12.6
billion) and MKB (equivalent to EUR 5.9 billion). LB(Swiss) reported a customer volume
of CHF 3.4 billion at year-end.
EUR billion
31.12.2004 31.12.2003
BayernLB Group
Change
in % 31.12.2004 31.12.2003
Change
in %
Total assets 285.6 272.8 4.7 333.1 313.4 6.3
Business volume 300.6 289.9 3.7 349.8 331.9 5.4
The business volume, largely consisting of the balance sheet total plus liabilities from
guarantees and indemnity agreements, was EUR 349.8 billion at Group level (up EUR
17.9 billion) and EUR 300.6 billion for BayernLB (up EUR 10.7 billion).
Report on the Bank and the Group
93
} Annual accounts
marked by
BayernLB’s
business model
} Balance sheet total