Bankgesellschaft is focussing on core business - Landesbank Berlin

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44 MANAGEMENT BUSINESS AREAS SHARE MANAGEMENT REPORT FINANCIAL STATEMENTS Government-Ass<strong>is</strong>tance Programme Real estate ass<strong>is</strong>tance scaled back still further The volume in the real estate ass<strong>is</strong>tance div<strong>is</strong>ion was scaled back still further due to the shortage of budget funds and low market demand. In the year under review, IBB financed other measures for the formation of housing ownership from Berlin’s housing portfolio, the foundation of housing associations, the modern<strong>is</strong>ation and maintenance of residential space and the improvement of the residential environment. The problematic general economic situation on the Berlin real estate market <strong>is</strong> continuing to necessitate intensive consultation to support owners in maintaining the economic efficiency of their properties. In real estate ass<strong>is</strong>tance, the future focus will be on efficient processing of ex<strong>is</strong>ting development programmes. Structure bank participations promote plans in the interest of the State In addition to the implementation of development programmes, it <strong>is</strong> also IBB’s responsibility to structure or finance important plans in the interest of the State through strategic participations. 2003 saw the merger of Wirtschaftsförderung Berlin GmbH and BAO BERLIN International GmbH. The new company bundles the strengths relating to the establ<strong>is</strong>hment of new companies in Berlin and the international<strong>is</strong>ation of the Berlin economy under the name Wirtschaftsförderung Berlin International GmbH (WFBI). IBB holds 37.5% of the nominal capital of the new company. Furthermore, Filmboard Berlin-Brandenburg GmbH assumed the responsibilities of Medienbüro Berlin-Brandenburg on January 1, 2004 and now operates as Medienboard Berlin-Brandenburg GmbH. Shareholders in Medienboard are Investitionsbank Berlin and Investitionsbank Brandenburg each holding 50%. Medienboard <strong>is</strong> to function in future as a central contact point for the media sector in Berlin and Brandenburg. The direct share of IBB in ipal Gesellschaft für Patentverwertung Berlin GmbH was reduced on December 31, 2003 from 52.5% to 49.5%; 3% was transferred to <strong>Bankgesellschaft</strong> Berlin. Outlook The core function of IBB as a development bank <strong>is</strong> the fast and effective implementation of the economic policy objectives of the State. The intention <strong>is</strong> to spin off IBB from Landesbank by January 1, 2005 at the latest as a bank subject to public law with liability assumed and refinancing guarantees, however without guarantor’s liability. The creation of legal bases for the spin-off of IBB <strong>is</strong> on the verge of being completed. Th<strong>is</strong> includes in particular the adoption of the IBB law, which determines the future responsibilities and structures of IBB. The operational implementation of the spin-off activities <strong>is</strong> expected to be concluded by the end of the second quarter of 2004, i.e. IBB will have set up all relevant functions for the operation of the banking business. In parallel to the spin-off from Landesbank Berlin, IBB <strong>is</strong> to carry out a restructuring project for the reorientation of the bank. Once the fundamental strategic orientation has been co-ordinated with the State, the current detailed planning <strong>is</strong> to centre primarily on adjusting and focusing the range of development programmes. In addition, the processing procedures for increasing efficiency are to be simplified and optim<strong>is</strong>ed.
Other/Consolidation Earnings contributions that are not to be allocated to the client-oriented business areas are posted in the Other/Consolidation segment. Group consolidation <strong>is</strong> also carried out. On the income side, own shares did not have any significant impact on income in the year under review (previous year: negative impact in the amount of a 16 million in the profit from financial transactions). Admin<strong>is</strong>trative expenditure includes the expenditure of the central staff unit and control div<strong>is</strong>ions as well as that of all service companies available as service providers. Their services are primarily charged to the other segments, where they are included in Other admin<strong>is</strong>trative expenditure. The service companies are IT service provider BB-Data and system development company BG-SYS oHG, as well as BankenService GmbH and Bauprojektund Facilitymanagement GmbH (BFM). BB-Data was no longer operational in 2003 and BG-SYS oHG was transferred to <strong>Bankgesellschaft</strong> Berlin AG in the middle of 2003 by means of a transfer of operations. BFM <strong>is</strong> to conclude its operating activities in 2004; some of the functions are to be moved back to the Bank or outsourced to an external service provider. 45 GOVERNMENT-ASSISTANCE PROGRAMME / SONSTIGES/KONSOLIDIERUNG The number of full-time jobs in the Corporate Centres was cut still further by 327 to 2,536 in the year under review. Around 700 of these are in the central staff areas and 1,300 are in Transaction Banking (Organ<strong>is</strong>ation, IT, Bankenservice, BFM). Some 500 personnel capacities will continue to be reported separately as a result of legal protection of working mothers, parental leave, etc. Other admin<strong>is</strong>trative expenditure of the Corporate Centres was also decreased to a significant extent and the focus was again on office space costs. After r<strong>is</strong>k prov<strong>is</strong>ioning, the operating result of the Other/Consolidation segment <strong>is</strong> up a 36 million on the previous year, at a –157 million. In earnings from financial investments of a –44 million (previous year: a –367 million), the write-downs (in particular on EURO STOXX-50 unit shares) and profits from participations (in particular the sale of Zivnostenská banka a.s.) were largely netted. The Group’s reorgan<strong>is</strong>ation and reconstruction measures again necessitated an allocation to the restructuring prov<strong>is</strong>ions, which are reflected in other items, net, in addition to the current restructuring costs.
Page 1 and 2: Bankgesellschaft B
Page 3 and 4: Corporate Profile • BANKGESELLSCH
Page 5 and 6: Contents 4 Management 4 Letter to S
Page 7 and 8: Our activities are centred around t
Page 9 and 10: 5 LETTER TO SHAREHOLDERS In additio
Page 11 and 12: 7 LETTER TO SHAREHOLDERS The positi
Page 13 and 14: Bernd Reinhard* Chairman of the BB/
Page 15 and 16: 11 REPORT OF THE SUPERVISORY BOARD
Page 21 and 22: Since the start of the reconstructi
Page 23 and 24: Retail Banking business area 19 SEG
Page 25 and 26: Government-Assista
Page 27 and 28: 23 SEGMENT REPORTING AND PERFORMANC
Page 29 and 30: RETAIL BANKING LOANS in t million 3
Page 31 and 32: Outlook Measures to further strengt
Page 33 and 34: The Competence Centres merged last
Page 35 and 36: The participations portfolio alloca
Page 37 and 38: From the dissoluti
Page 39 and 40: Outlook REAL ESTATE FINANCING LOANS
Page 41 and 42: Bankgesellschaft B
Page 43 and 44: almost full implementation of the s
Page 45 and 46: Corporate Investments The Group’s
Page 47: The Assembly of Guarantors of Lande
Page 51 and 52: The measures for repositioning <str
Page 53 and 54: Management Report 50 Overview of th
Page 55 and 56: The increasing economic optim<stron
Page 57 and 58: Other important cornerstones of th<
Page 59 and 60: with market conditions. Prec<strong
Page 61 and 62: The measures started in 2002 for th
Page 63 and 64: Up to and including 2011 at least,
Page 65 and 66: esulting from the LBB/IBB proceedin
Page 67 and 68: CONSOLIDATED RESULT OF ORDINARY BUS
Page 69 and 70: Structure of net comis</str
Page 71 and 72: Personnal costs in € million 973
Page 73 and 74: Taxes on income As a result of the
Page 75 and 76: These effects negatively impact the
Page 77 and 78: RISK PROVISIONING FOR THE AG Net ot
Page 79 and 80: LENDING VOLUME WITHIN THE GROUP Dev
Page 81 and 82: Liabilities CONSOLIDATED LIABILITIE
Page 83 and 84: AG LIABILITIES Final statement on t
Page 85 and 86: (c) The system of compensation of t
Page 87 and 88: • Operational ris</strong
Page 89 and 90: Total A B C D E F no rating availab
Page 91 and 92: The complexity and scope of the ex<
Page 93 and 94: CAPITAL-AT-RISK LIMITS AND UTILISAT
Page 95 and 96: Since 2002, a Committee for Operati
Page 97 and 98: In addition, a qualifying concept r
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whereby no more than a 1.1 billion
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The large number of legally stipula
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Two key measures were implemented i
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Over the course of 2003, IBG almost
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Group Outlook The Group achieved a
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105 GROUP OUTLOOK / ANNUAL FINANCIA
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107 BANKGESELLSCHAFT BERLIN GROUP B
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109 BANKGESELLSCHAFT BERLIN GROUP B
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111 PROFIT AND LOSS ACCOUNT OF THE
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113 CONSOLIDATED EQUITY CAPITAL STA
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115 SEGMENT REPORTING OF THE GROUP
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117 CASH FLOW STATEMENT OF THE BANK
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119 BANKGESELLSCHAFT BERLIN AG BALA
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121 BANKGESELLSCHAFT BERLIN AG BALA
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123 PROFIT AND LOSS ACCOUNT OF BANK
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1) Berlin Hyp Group companies 2) IB
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127 NOTES TO THE CONSOLIDATED AND A
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2 Amounts due in the following year
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17 Provisions for
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20 Profit participation capital 141
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24 Profit from financial transactio
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30 Taxes on income 147 NOTES TO THE
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Other Information on the Group 32 I
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38 Information on derivative transa
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40 Corporate Governance 159 NOTES T
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1 Classification of Deadlines 161 N
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5 Subordinated assets 163 NOTES TO
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9 Foreign currency items 165 NOTES
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15 Other liabilities 167 NOTES TO T
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24 Profit from financial transactio
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27 Geographic dist
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38 Information on derivative transa
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BSI Immobilien-Beteiligung GmbH & C
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Long Beach Property, LLC, Wilmingto
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Associated companies (section 311/s
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185 APPENDIX 1 Company, reg
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187 APPENDIX 1 Company, reg
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189 APPENDIX 1 / APPENDIX 2 L<stron
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Claudia Fieber* (since September 1,
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Hans-Jörg Vetter Chairman of the B
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List Pursuant to S
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2. Bankgesellschaft</strong
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Financial Service Providers BB-ASSE
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Banks and Finance Companies Real Es
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Imprint Published
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Bankgesellschaft is focussing on core business - Landesbank Berlin

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