AnnuAl report 2007 - Raiffeisen Landesbank Tirol

0Foreword of the Board of Managing DirectorsLadies and Gentlemen,Despite difficult framework conditionsfor the loan business, Raiffeisen-Landesbank Tirol AG can look backon an extremely successful 2007.A significant increase in operatingincome, a sideways movement inoperating expenses, and a positivedevelopment in credit risk provisionsonce again led to a very satisfactoryresult.At the same time, we were able tofurther increase the quality of our customerrelations. For instance, thanksto proficient consulting and innovativeproduct solutions, we secured a sustainableadded value for our customers.Furthermore, we managed tofurther consolidate our thematic leadershipon the Tyrol banking market.Raiffeisen-Landesbank stands forproximity, above all personal proximity.This is why we opened our 17 thbranch in 2007. We are pleased tonow be able to offer expert consultingand comprehensive banking services– as in other regions – in the Pradldistrict of Innsbruck.The pleasing development of ourbusiness is largely down to our committedand superbly trained employees.They are our key competitiveadvantage and ensure our long-termsuccess.Raiffeisen-Landesbank Tirol AGassumes responsibility for Tyrol asa place to live. Our long-standing traditionof funding social programmes,art, culture, education, science,churches and sport is firmly anchoredin our company. We feel we havea duty to these values in the future,too, not just to maximising profits.As the Raiffeisen Banking Group Tyrol– comprised of 82 Raiffeisen banksand Raiffeisen-Landesbank Tirol AG –we are by far the largest and highest-performancebanking group inthe province of Tyrol, and together weare writing a success story. Thanksto close cooperation in this organisation,in particular, we were also able tocement this position in 2007. In turn,this guarantees the independence ofthe Tyrolean Raiffeisen banks and theability to supply the entire local populationand economy with customerorientedbanking products.We would like to thank our customers,partners, owners and employeesfor their confidence in us, and welook forward to successfully workingtogether in 2008.Reinhard Mayr Hans Unterdorfer Gobert Sternbach Hannes Schmid