Annual Report 2011 - Dr. August Oetker KG

Banking Division
The Banking Division comprises Bankhaus Lampe KG and its subsidiaries.
Consolidation was further advanced in the German private banking market. Against this backdrop, Bankhaus
Lampe once again stood up well in 2011.
The conservative business model and
the confi nement of business activity to
classic and understandable products
have proved their worth in the current
environment. Additionally, Bankhaus
Lampe is the only German private bank
in family ownership and has a stockholder
background industrial in character.
To further advance the growth course it
has adopted and diversify the risk of the
business activity, Bankhaus Lampe
focuses on three strategic customer
groups: mid-sized companies, wealthy
private clients and institutional investors.
Proprietary trading does not rank
among the strategic business fi elds;
securities and currency trading is undertaken
primarily in the clients’ interest.
The consolidated balance sheet total of
Bankhaus Lampe, at Euro 3,051 million
on December 31, 2011, was down marginally
on the previous year’s fi gure of
Euro 3,139 million.
Balance sheet equity – excluding balance
sheet profi t – rose to Euro 199 million as
a result of the allocation of stakeholder
capital and accounted for 6.5 % of the
balance sheet total (2010: 5.8 %).
Customer receivables decreased from
Euro 1,485 million to Euro 1,377 million.
Customer deposits also recorded a decline.
They fell by Euro 232 million to
Euro 2,425 million, their share of the balance
sheet total amounting to 79.5 %
and so establishing the desired balance
between customer receivables and their
refi nancing from the deposit business.
This consequently gave Bankhaus
Lampe a more than sound balance sheet
structure.
The interest surplus from the banking
business rose signifi cantly, from Euro 39
million to Euro 47 million. The contribution
from the customer business also
developed positively compared with the
previous year.
At Euro 79 million, the commission surplus
surpassed the previous year’s fi gure
of Euro 68 million.
The net result from fi nancing transactions
amounted to Euro 9 million, equaling
that of the previous year despite a
rise in spread risks.
Personnel and operating expenses, at
Euro 112 million, are on a par with the
previous year.
Account was taken of all identifi able
risks by the formation of adequate value
adjustments and reserves, all of which
were covered from the Bank’s operating
result. Similarly, visible and hidden reserves
were increased pursuant to Section
340 f and Section 340 g of the Commercial
Code.
The stated balance sheet profi t, at Euro
18 million, exceeded the previous year’s
profi t of Euro 14 million. As in the previous
year, it is planned to appropriate it in
full as part of a “pay-out, take-back” procedure
to further strengthen the core
capital. After the planned retention of
the annual surplus for 2011, the hard
core capital ratio will rise to more than
12 %.
Banking Division 54
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