The Pfandbrief 2011 | 2012

86
With total assets of EUR 316.4 bn., BayernLB is the leading Bavarian commercial bank both for large
and Mittelstand customers in Germany and Europe, and for retail customers. It is an integral part of the
Sparkassen-Finanzgruppe in Bavaria and a high performance regional bank focused on Europe with
international expertise. BayernLB prides itself on its successful and long-term relationships with large
German and international customers. Financing activities for the public sector and institutional investors
are focused on its core markets of Bavaria and Germany.
The real estate business is one of the strategic pillars of BayernLB’s business model. The real estate
business comprises long-term commercial real estate financing and services, and financing for selected
property developers and portfolios. For BayernLB, as a major issuer of Pfandbriefe, the real estate business
and the quality of the cover funds are of overriding strategic importance. The business is focussed
geographically on Germany and selected areas within Europe, with service also being provided to German
Mittelstand customers in the rest of Europe and beyond.
In Bavaria, BayernLB serves Mittelstand customers in close cooperation with the savings banks.
BayernLB’s services are supplemented by financing and service solutions provided by the subsidaries
Real I.S. AG (Real I.S.), Bayerische Landesbank Immobilien-Beteiligungsgesellschaft mbH & Co. KG
(BayernImmo) and LB Immobilienbewertungsgesellschaft mbH (LBImmoWert) which is the centre of competence
for real estate valuation and research. Out of BayernLB’s total assets amounting to EUR 316.4 bn.,
EUR 80 bn. is attributable to the real estate sector (private real estate financing approximately EUR 27 bn.,
commercial financing approximately EUR 50 bn. and real estate leasing EUR 3 bn.).
BayernLB is an established issuer of capital market products on both the German and international capital
markets and provides investors with a broad spectrum of products, ranging from private placements to
jumbo Pfandbriefe and benchmark issues. Its public sector Pfandbriefe and mortgage Pfandbriefe make
BayernLB one of the leading long-term issuers in Germany.
As at 31 December 2010, BayernLB’s bonds and other securitised liabilities on the market totalled almost
EUR 80 bn.. As at this date EUR 7.8 bn. of mortgage Pfandbriefe and EUR 31.7 bn. of public sector Pfandbriefe
from BayernLB were outstanding. In addition, Group subsidiary Deutsche Kreditbank AG (DKB) is
also an issuer of mortgage Pfandbriefe und public sector Pfandbriefe.
Rating: Mortgage Public Short-term Long-term
Pfandbriefe Pfandbriefe liabilities liabilities
Fitch AAA AAA F1+ A+
Moody‘s Aaa (watch negative) Aaa (watch negative) P-1 (watch negative) A1 (watch negative)
Selected key figures
Total assets (Group)
Public-sector loan portfolio (excluding public sector banks)
Securitised liabilities
Mortgage Pfandbriefe
Public Pfandbriefe
Jumbo issues outstanding
Own funds (German Banking Act)
Core Capital (German Banking Act)
Core Capital Ratio
Own funds ratio (at group level)
Net interest income
Administrative expenses
Risk Provisions for the credit business
Earnings before taxes
2010
€ million
316,354
27,816
79,468
7,760
31,733
10,500
19,200
13,900
11.2%
15.5%
1,942
1,462
-696
885
2009
€ million
338,818
23,209
92,968
7,596
38,024
13,150
21,400
14,800
10.9%
15.7%
2,561
-2,125
-3,277
-2,765