BayernLB - Factbook Munich, August 2021
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BayernLB – Factbook Munich, August 2021
Contents › History, management
and owners 3
› Business model 9
› Business areas 13
› Our subsidiaries 18
› Ratings 23
2
History, management and owners 3
The Bank’s history dates
back to 1884
Organisational
segregation takes
Several Bavarian savings The
place between the
banks join together to Landeskulturrentenanstalt
Girozentrale and the
form a clearing is renamed Bayerische
savings bank
association Landesbodenkreditanstalt
association
1914 1925 1949
1884 1917 1929 1972
On 1 July 1884, the newly In Nuremberg, an Bayerische On 1 July 1972,
founded Bayerische independent office for Landesbausparkasse Bayerische
Landeskulturrentenanstalt the central clearing is founded Gemeindebank merges
opens for business. This unit is founded with Bayerische
marks the start of a long Landesbodenkreditanstalt
corporate history to become Bayerische
Landesbank Girozentrale
4
Management
Stephan Winkelmeier Dr Markus Wiegelmann Marcus Kramer
CEO Member of the Board of Member of the Board of
Management Management
Gero Bergmann Johannes Anschott
Member of the Board of Member of the Board of
Management Management
5
Strong owners
Association of Bavarian Savings
Free State of Bavaria
Banks
~ 25% ~ 75%
100% state guarantee
BAYERNLB HOLDING AG from the Free State of
Bavaria
100%
Institution established under public law A body established under public law which
is a legally dependent part of BayernLB
100%
6
Free State of Bavaria compares
well to its European neighbours AAA
Top ratings
The Free State of Bavaria has the
highest ratings of AAA/Aaa
2020 gross domestic product by country from Standard & Poor’s and Moody’s.
EUR bn
3,368
EUR 610 bn
Gross domestic product
2,401
Bavaria accounted for 18.1% of
2,303
Germany's nominal gross domestic
product in 2020.
1,652
DAX 30
1,122 Bavaria
800
656 610
523 475 451 Bavaria – a state with a strong economy
377 373 318 313 Around 30% of all DAX 30 corporations
236 202 166
are in Bavaria. Bayern has one of the
strongest economies of all the German
states and is home to a large number of
Mittelstand companies.
Sources: BayernLB Research, Eurostat, German federal and state statistics offices, Datastream
7
Savings banks – major
customers and sales partners
Savings banks are the top financial
services providers throughout Bavaria
› 64 savings banks
› EUR 240.1 bn in total assets
› EUR 150.5 bn credit volume
› EUR 187.6 bn in customer deposits
› 35,813 employees and trainees
› 2,626 branches (incl. self service)
› 14.4 m savings, current and securities
accounts
As at: 31 December 2020
8
Business model 9
Our value proposition as the
BayernLB bank of the future:
1. As a streamlined, specialised bank we are the reliable innovation
partner for companies in high-growth business sectors of the
future, primarily in Bavaria and Germany, and support our
corporate customers sustainably and for the long term with in-depth
expertise
2. In real estate financing, we use our specialist knowledge and
network to support our customers throughout the entire value chain
in Germany and other selected markets
3. We are the central bank for the Bavarian savings banks and the
main bank for the Free State of Bavaria
4. As a tech bank, DKB provides its customers with an excellent client
experience and outstanding digital solutions
5. Our asset management companies Real I.S. and BayernInvest
enable our customers to choose from a wide variety of sustainable
investments
10Our structure: three strong segments
Corporates & Markets Real Estate & Savings Banks/FI DKB
Specialised lender for the German Qualified and reliable real estate lender and Inspire customers as a tech bank
economy’s challenges of tomorrow service provider/central bank to the and sustainable partner
Bavarian savings banks and partner to the (“Geldverbesserer” slogan, or “your
public sector/FI money can do more”)
› Leading sector expertise in five
innovative sectors of the future: energy, › Expert financing of future-oriented and › Significant customer growth from
mobility, technology, manufacturing & sustainable products in the various real estate approx. 4.8 m to 8 m customers
engineering, and construction & basic asset classes planned
resources › Support for professional customers in established › Tech bank of tomorrow: digital
› Deep integration and strong roots in the markets in the German core business and in companion for retail customers
ecosystems of the focus sectors selected foreign regions › Regionally rooted partner to local
› Extensive product expertise from the › Positioning of Real I.S. as a key real estate fund authorities and companies in selected
traditional lending business to tailored manager growth industries
structured and asset-based finance › BayernLabo: subsidised housing and municipal › Sector-specific solutions for
› In addition to bond issues, a high level of lending for Bavaria payments, investment products, and
expertise in capital market transactions, › Savings banks as major customers and strategic investment and company-oriented
in particular a leading position in sales partners lending
Schuldscheins and Pfandbriefs › Close cooperation in the subsidised loan › Strong partner for sustainability
› Well-developed ESG advisory based on a business and leading position in foreign notes, issues
holistic consulting approach coins and precious metals
› Concentration on selected treasury › Comprehensive support for the public sector and
products financial institutions
› Asset management via BayernInvest
11We are there for you
at home in Bavaria and abroad
Germany
Munich
Nuremberg
Stuttgart
Frankfurt
Dusseldorf
Hamburg
Berlin
Leipzig
Foreign Representative Munich head office
branches: office
London Moscow
Milan
Paris German Centres
New York Shanghai
Taicang
Support for your international activities thanks to around
900 correspondent banks in 100 countries
12Business areas 13
Corporates - investment lender with in-depth
expertise in future-oriented sectors
Firmly anchored in Germany’s future-oriented sectors
Energy – the Bank has successfully supported the energy transition for
many years and has exceptional expertise in key technologies for
producing renewable energy
Mobility – a leading position in rail, successful in logistics, automotive and
aviation with asset know-how and expertise along the value chains
Technology – long-standing customer relationships with top innovation
and technology companies in Germany and abroad
Manufacturing & engineering – broad customer base ranging from family-
run Mittelstand companies to global international corporations
Construction & basic resources – strong network of prestigious market
participants and leading research and educational institutions
› As one of the leading banks in Germany, we focus on long-term partnerships, offering sustainable
financial solutions
› We support our customers with our consulting and product expertise, especially for structured and
asset-based finance
› Our consulting and product expertise is bundled inside our sector teams which serve our clients
using a holistic approach
› This structure guarantees short decision channels, flexibility, optimum solutions and added value for
14 our customersMarkets – streamlined capital market business for our customers Debt Capital Markets As a leading arranger BayernLB structures bonds according to the needs of the issuer and investor. BayernLB enjoys excellent rankings in corporate Schuldschein and Pfandbrief league tables. Access to a broad and diversified investor pool – and to the savings bank network – coupled with secondary market expertise is the key to our success. Structured customer solutions with added value We support financing and provide structuring, securitisation and placement solutions in the capital market. Central bank function for savings banks The BayernLB Group offers a focused range of products in its role as central bank to the Bavarian savings banks. Money market-/interest rate and currency products Money market and repo transactions, along with interest rate and currency products, top off our services for BayernLB’s customer groups. › Regular “Deal of the Year” awards, including for ESG bonds › Top rankings in corporate Schuldschein and Pfandbrief league tables › Close interplay between the capital markets and project financings › Focused range of money market, interest rate and currency products/services 15
Real Estate
360° real estate expertise
› Approx. EUR 1.9 bn in new business in addition to
approx. EUR 1.1 bn in renewals concluded in first half of
2021.
› Aside from our Munich office, we have a presence in the
German real estate market at four locations: Berlin,
Duesseldorf, Frankfurt and Hamburg. Our foreign
branches are located in London, Paris, Milan and New
York.
› We have an extensive real estate network. We work
closely with our subsidiaries Real I.S., DKB, BayernFM,
BayernImmo, LBImmoWert and BayernGrund to offer our
customers our full 360° real estate expertise.
We are real estate. We finance projects for our customers along the entire value
chain.
16Savings Banks & Financial Institutions –
well connected in the Savings Banks Finance Group
Central bank and no. 1 Top provider of foreign Exclusive service provider Global support for insurers, Powerful partner
partner to the Bavarian notes & coins and for the Bavarian savings banks and institutional to the public sector
savings banks precious metals in the banks in subsidised loans customers
Savings Banks Finance
Group
› We assist the savings banks with know-how and innovative power, offering them an
extensive range of products and services that meets the needs of their proprietary and
customer business
› As a strong partner to public-sector and municipal customers and public institutions,
BayernLB offers a wide range of products with tailor-made solutions for their financing and
investment plans
› Broad network of correspondent banks to support savings banks and corporate customers
17Our subsidiaries 18
DKB –
digital subsidiary of the BayernLB Group
DKB – Das kann Bank DKB Group
Our products and services lead the market and are renowned 30 June 2021
IFRS
for their fair prices.
Total assets EUR 126.9 bn
We aim to provide an intelligent banking experience based on
innovative technology. Our retail customers carry out their Equity EUR 4.0 bn
daily banking transactions conveniently and securely online. Liabilities to customers EUR 78.0 bn
Our business customers are served personally on location by
Net interest income EUR 569.1 m
our sector experts.
Profit/loss before taxes EUR 272.4 m
› Approx. 4.8 m retail customers RoE 16.6%
› Germany’s second largest online bank
› The most sustainable of Germany’s top 20 banks (e.g. social
bond for retail customers, benchmark for green bonds,
sustainability funds and the crowd investing platform DKB-
Crowd)
› In business with corporate clients, the focus is on sectors of
the future with long-term growth potential in Germany
› Financing partner for more than 4,000 municipalities,
administrative districts and municipal associations
Convenient and secure – DKB business customers –
DKB’s internet banking personal service
19BayernLabo –
development bank of the BayernLB Group
Subsidised housing and municipal lending for Bavaria 31 Dec 2020
BayernLabo has the legal mandate to promote social housing
Total assets EUR 17.8 bn
and municipal construction in Bavaria. In addition, BayernLabo
issues government and municipal loans in Bavaria. Own funds EUR 2.8 bn
CIR 63%
› The Free State of Bavaria is liable for all the liabilities assumed
Employees 239 FTE
by BayernLabo
› BayernLabo has a Aaa rating from Moody’s
› Solva 0 status
› LCR status level 1
› No bail-in risk
Aaa
BayernLabo’s rating
from Moody’s
BayernLabo –
a sustainably good company
20BayernInvest –
the German ESG specialist
We make sustainability profitable. Assets under management
And profitability sustainable. 30 June 2021
(EUR m)
› ESG specialist with 30 years of expertise Special funds 97,503
› Positioned among the top 10 in Germany Retail funds 1,864
for years
Asset management 5,969
› 360 degree full-service provider
Total 105,336
› Around 200 employees with offices
in Munich and Luxembourg
Investment management Alternative investments
› Special and retail funds: bonds, equities and multi-asset › BayernInvest Luxembourg centre of competence as a
mandates, index-based investments specialist for alternative investments
› Implementation of sustainability criteria › Opening and structuring funds, transaction management,
› Systematic risk management and quality control Master-KVG/AIFM service
› Strong in-house research
Master-KVG Services
› Analysis of investment forms, Master-KVG structuring, › Excellent customer service
fund administration › Extensive and professional reporting
› Individual solutions for the entire back and mid office area › Focus: innovative and automated ESG reporting
with implementation of regulatory requirements
› Strategic asset allocation (SAA)
www.bayerninvest.de
21Real I.S. – real estate investments
and asset management worldwide
Leading the market in real estate investments, 31 May/30 June 2021
Scope Management rating AA+ very high quality
Assets under management Approx. EUR 11 bn
Real I.S. Group is one of the leading German providers of
Occupancy rate 96.3%
real estate investments for institutional and private
investors. It manages assets worth around EUR 11 bn in Equity raised Approx. EUR 398 m
eleven countries around the world and has offices at six Transactions (buying and selling) Approx. EUR 563 m
locations in Europe and Australia.
Investments are currently focused on Germany, the
Netherlands, Spain, France and Australia.
For more information see www.realisag.de.
22Ratings 23
Ratings
Fitch Ratings Moody's
Issuer rating A- (stable) Aa3 (stable)
Long-term, preferred senior unsecured A Aa3 (stable)
Long-term, non-preferred senior unsecured A- A2
Short term, unsecured F1 P-1
Public Pfandbriefs AAA Aaa
Mortgage Pfandbriefs – Aaa
Long-term, Derivative Counterparty/Counterparty Risk Assessment (CRA) A (dcr) Aa3 (cr)
Long-term, Counterparty Risk Rating (CRR) – Aa3
Short-term, Counterparty Risk Assessment (CRA)/Counterparty Risk Rating (CRR) – P-1 (cr)/ P-1
Long-term, deposits A Aa3 (stable)
Short-term, deposits F1 P-1
Profit participation rights – Baa3
Subordinated bonds BB+ Baa2
Viability Rating/Baseline Credit Assessment bbb baa2
24Above-average sustainability ratings overall
ISS ESG VigeoEiris Sustainalytics MSCI
Rating C+ 54 24.9 A
Ranking/investment 14 out of 97 Sector
“Prime” 95 out of 417
status average
Sector average D – – A
Rating scale (from
A+ to D- 100 to 0 0 to 100 AAA to CCC
good to poor)
Universe:
MSCI ACWI
276 public & regional 97 retail & specialised
Benchmark 417 diversified banks index
banks banks
constituents,
banks, n=192
Date 12/2020 04/2021 07/2021 05/2021
25Contact Volker Karioth Senior manager volker.karioth@bayernlb.de +49 89 2171 23441 26
Disclaimer This publication constitutes research of a non-binding nature on the market situation and the investment instruments cited here at the time of the publication of this information, August 2021. It is, to the best of our knowledge, based on generally accessi ble sources which are reliable and accurate. However, no liability can be accepted for any errors or inaccuracies in information derived from these sources. The information used in this publication has not been checked for accuracy, completeness or relevance to current events. We therefore cannot assume any liability as to the accuracy and completeness of this information. This public ation is for the purposes of general information only and does not substitute in any way a personal consultation suited to your ind ividual investment needs. For further information and updates, please feel free to contact us. 27
28 Rating & Investor Relations Factbook
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