Geschäftsbericht 2008 - NordFinanz Bank AG

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NordFinanz Bank Aktiengesellschaft, Bremen
Report of the Supervisory Board
In the year under review the Supervisory Board regu-
larly learned about the developemt of the bankingbusiness,
about the banks financial- and liquidity
situation and about important transactions.
The Management Board has reported extensively to
the Supervisory Board in several meetings as well as
in numerous one-on-one conversations with Supervisory
Board members in writing and verbally.
The Board additionally informed the Supervisory
Board in detail about the current situation of the
creditportfolio and about the general risks by sending
them a quarterly Riskreport as requested by
the Minimum Requirements for Risk Management
(MaRisk) .
Transactions which by law and charter request the
Supervisory Boards approval have been checked and
commented accordingly. The Supervisory Board has
furthermore advised the Management Board and
gave recommendations.
The Annual Acccounts as per December 31, 2008
and the report made by the Management Board
under involvement of the accounting department
have been checked by the auditor Deloitte & Touche
GmbH, Wirschaftsprüfungsgesellschaft, Munich,
which has been appointed by the AGM. The auditor
has declared that the Annual Accounts are in accordance
with the correctly managed accounts, the
bylaws and legislation. The Management Report gives
a correct picture of the course of business as well as
of the situation of the enterprise.
The Annual Accounts have been approved with an
qualified auditors report.
The Auditors Report about the Annual Accounts and
the Management Report have been given to the Supervisory
Board and have been approved accordingly
after checking it.
The Supervisory Board approves the Annual Accounts
as per December 31, 2008 which is ascertained
hereby and agrees to the Management Boards
suggestion about the use of the accumulated losses.
As per § 312 AktG NordFinanz Bank AG has re-
ported about its relationships to affiliated companys
(dependency report) for the period from 01. January
2008 until 15. October 2008. The auditors have
checked the dependency report and have given their
unqualified approval.
The Supervisory Board checked the dependency
report and all theirin mentioned legal transactions as
per § 314 clause 2 AktG. The final conclusion of this
review says that their are no objections whatsoever
against any declaration made by the Managing Directors
in this report
The auditors have been present in the Supervisory
Board’s meeting in which the Annual Result has been
approved and have been available to answer additional
questions.
The Supervisory Board expresses his thanks to the
Management Board and the employees of the company
for the accomplished labour.
Bremen, October 2009
Supervisory Board
Dr. Eberhard Lohmann
Chairman