at a Glance Facts and figures

Transcription

1 KfW at a Glance Facts and figures

2 KfW KfW is one of the world s leading development banks. With its decades of experience, KfW is committed to improving economic, social and ecological living conditions all around the world on behalf of the Federal Republic of Germany and the federal states. To do this, it supplied funds totalling 73.4 billion euros in 2012 alone; and of this, 40 % went into measures for protecting the environment and combating climate change. KfW does not have any branches and does not hold customer deposits. It refinances its funding activity almost entirely through international capital markets. In 2012 it collected 78.7 billion euros for this purpose. In Germany the KfW banking group is represented by locations in Frankfurt, Berlin, Bonn and Cologne. Its network includes more than 70 offices and representations around the world. Mexico City Guatemala City KfW has more than 70 offices and representations around the world Bogota Brasilia

3 KfW Bank aus Verantwortung As a Bank aus Verantwortung (a bank of responsibility), KfW sustainably supports change in the economy, ecology and society. The main focus points of its work are: The promotion of small and medium-sized companies and entrepreneurs Programs for renovating residential properties to become energy-efficient Funding measures to protect the environment Investing in private customers education Financing programs for municipalities and regional development banks Export and project financing Investing in developing and transition countries Brussels Cologne Moscow Belgrade Kiev Tbilisi Ramallah al-bireh Cairo Mazar-i-Sharif Tashkent Bishkek Dushanbe Yerevan Damascus New Delhi Beijing Juba Yaounde Addis Ababa Singapore Dar es Salaam

4 National business Promoting Germany The main focus of KfW s work is on domestic financing. Here, the financing of start-ups and SMEs is the area with the highest volume of business. With the help of KfW, small and medium-sized firms can consolidate their businesses and invest in growth. KfW also offers special programs for promoting innovative technology companies, the use of renewable energy and improving energyefficiency within firms. In addition, KfW supports private customers making investments in their future, such as with making their homes modern and energy-efficient, or with investing in their education or further training. The third column of domestic promotion is investment in municipal and social infrastructure. Investments in your own future with the help of KfW

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6 International business Ensuring internationalization The international project and export business of the KfW banking group is administered by the KfW IPEX Bank. KfW s subsidiary provides medium and long-term financing for specific purposes; e.g. for promoting export commerce, for the development of commercial and social infrastructure, for environmental and climate protection initiatives, and for securing German raw materials. In addition to its headquarters in Frankfurt, it is currently represented in nine locations in the world s most important commercial and financial centres. Promoting development With a mandate from the federal government, the KfW Entwicklungsbank ( development bank ) business area finances development projects around the world. The top priorities are to improve people s prospects of a better life, to protect the environment and to combat climate change. In so doing, KfW supports Germany s partner countries and provides the impetus for progress and development. KfW Entwicklungsbank is represented in nearly 70 countries around the world. DEG (Deutsche Investitions- und Entwicklungsgesellschaft GmbH) finances the establishment and expansion of privatesector entities. This subsidiary of KfW advises and finances private companies that invest in projects that are sustainable from both a commercial and developmental perspective. To do this, DEG provides long-term financing from its own funds. In addition to its headquarters in Cologne, it is represented in 13 locations around the world.

7 KfW creates prospects for a better world

8 KfW at a glance Investment figures Domestic investment (in bn) 2012 KfW SME banking division 24.1 KfW private banking division 17.4 KfW municipal banking division 9.1 Capital market-related financing 3.6 International trade (in bn) 2012 Division for export and project financing: KfW IPEX Bank 13.4 Division for promoting developing and transition countries: KfW development bank 4.9 DEG 1.3 Total trade of the KfW group (consolidated) Corrected to include the refinancing commitments of export and project financing from KfW s program loans amounting to 440 m.

9 Key finance data Key figures (in m) 2012 Operating result before valuations 2,246 Related interest subsidy payments 535 Operating result after valuations 2,472 Result from normal business activity 2,459 Group profit 2,384 Group profit before impact of IFRS from hedge accounting 2,229 Changes to revaluation reserves not affecting income 211 Balance sheet figures (in bn) 2012 Balance sheet total Credit volume Business volume Balance sheet equity 20.7 Regulatory figures in % 2012 Core capital ratio 18.2 Total capital ratio 20.6 Long-term ratings 2012 Fitch Ratings AAA Moody s Investors Service Aaa 1 Standard & Poor s AAA 1 Negative outlook since 25 July 2012

10 The people behind KfW The success of KfW is based above all on the competence and motivation of its employees. More than 5,000 people work on achieving KfW s goals. As a company operating at the boundary between politics and commerce, KfW offers its staff a wide range of responsibilities, also with the opportunity of working abroad. KfW supports the development of its employees through competent leadership and target-oriented qualifications and further training. The declared objective of KfW is to establish a gender-sensitive corporate culture, to increase the number of women in management positions, and to further improve the compatibility of work and family life. In addition to requirement-based child support, temporal and spatial flexibility also take centre stage. Even management can work on

11 a part-time basis; something they do in fact take advantage of, and sometimes in a tandem model. For many years now the Hertie Foundation has certified KfW as a family-friendly company in the Career and Family audit. Furthermore, KfW is one of the 100 most popular employers in Germany. KfW offers competitive and performance-based remuneration and extensive social benefits General stats on KfW s employees, 2012 Total workforce 1 5,190 Proportion of severely disabled employees 5 % Part-time employees 20 % Representation of women in management positions 27 % Representation of women in the total workforce 49 % Apprentices, student interns, trainees Stated here is the average number of employees, excluding the board of management and apprentices, but including temporary workers (based on the levels at the end of each quarter of the financial year).

12 The KfW foundation Social responsibility Commercial trade and social responsibility belong together. For KfW, with its statutory mandate to drive change in the economy and society and to contribute to improving the quality of life, this applies most pertinently. Within this context, KfW founded an independent, not-for-profit foundation in October The KfW foundation gets involved in dealing with the big challenges of society. This includes protecting the environment and combating climate change, demographic change and globalization. It is here that the KfW foundation aims to raise awareness, take on responsibility and create diversity. The purpose of the foundation is to support a range of subject areas, such as the environment and climate change, social commitments, responsible entrepreneurship, as well as the arts and culture. Furthermore, the foundation maintains a historical archive in Berlin that also documents the history of the establishment of the founder, the KfW. Villa 102 the future base for the KfW foundation

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14 Non-profit funding The environment and climate With biodiversity as its main focus, the KfW foundation promotes environmental protection and combating climate change. The local, national and international projects which the foundation supports make a valuable contribution to maintaining the diversity of species. The projects stimulate, for example, the responsible commitment of people and the necessary interdisciplinary dialogue in our society. Current projects: partnerships with the Naturmuseum Senckenberg, the zoo and palm garden in Frankfurt, and the KfW / Bernhard Grzimek prize. Social commitment The KfW foundation aims to ensure the sustainability of our society. It therefore drives projects for the promotion of a conscientious and strong community in a targeted fashion. A key goal is firmly establishing inclusion as a future-oriented form of living together. It is important to open new perspectives to secure diversity, both socially and economically. Current projects: the development of new concepts for the promotion of social and community issues and the preparedness to assume responsibility (such as disabled sports). Responsible entrepreneurship On the business side of things, the KfW foundation champions conscientious commercial thinking, which rises to the social challenges of the future.

15 Current projects: the development of new concepts for the promotion of commercial start-ups in Germany that aim to make a responsible contribution to sustainability. Art and culture Focus is placed on intercultural dialogue: locally developed ideas and visions are shared with the global community. Through exchanges with creative artists in Africa, Asia and Latin America, valuable sources of knowledge and experience are accessed, from which the community can gain new perspectives and ways of thinking. Current projects: an international artists scholarship program in cooperation with the Künstlerhaus Bethanien, Berlin; the Videonale in the Kunstmuseum in Bonn; and the Young Euro Classic in Berlin. Taking on responsibility, experiencing diversity

16 Refinancing KfW is one of the largest and most active loan providers in the world. It refinances its commercial activities almost entirely through the international finance and capital markets. In doing this, 213 loans were sold in 15 currencies and with a total volume of 78.7 billion euros to institutional investors in Germany and around the world in KfW is in a leading position globally on the international capital markets. Also, KfW is regularly distinguished for its services to the capital market as the best provider in its field. Refinancing based on instruments 5 % 36 % 59 % benchmark programs public loans private placements (including loans)

17 With a variety of loans in a range of currencies, KfW is always in a position to respond flexibly to market conditions. All refinancing instruments have one thing in common: they are secure. This is because they are guaranteed explicitly and directly by the Federal Republic of Germany. Among the three leading rating agencies, KfW enjoys the best possible credit rating. Refinancing based on currencies 5 % 2 % 7 % 6 % 49 % 32 % EUR USD AUD GBP JPY Other

18 History The Marshall Plan supplied the initial capital for KfW The first senior management: Hermann J. Abs and Otto Schniewind 1948 The beginning In June the Anglo-American occupying force commissioned the establishment of a central body for financing reconstruction in their occupation zones. The KfW law was published in the law gazette of the united economic area in November On 2 January 1949 the Kreditanstalt für Wiederaufbau began conducting its business. The 1950s Reconstruction and the German Economic Miracle With money from the Marshall Plan amounting to nearly a billion euros, KfW funded the reconstruction of the German economy. At the end of the 1950s KfW took on responsibilities that still belong to its core business today, namely providing finance for exports and SMEs. The foundation was also laid for the financing of environmental projects as early as the 1950s. Development aid: the financing of a cement factory in Turkey The 1960s Making our way in the world The 1960s was the dawn of a new era. The Federal Republic, which was expanding economically, increasingly took on responsibility in terms of development aid. As early as 1961 KfW was given a legal mandate to do this. The 1970s Reorientation towards domestic investment Two oil crises and a long period of high interest rates prompted a rethink. SMEs became the object of economic and political focus.

19 The promotion of energy saving and innovation become significant areas of focus in the work of KfW. The 1980s An expansion of focus areas for investment Development policy was in a state of change: capital assistance became financial cooperation. The increasing internationalization of the capital markets opened up whole new opportunities for refinancing at KfW. After the fall of the wall, KfW financed development in the East The 1990s Reunification The development of the East saw the beginning of the largest support program in German history. Some 70 percent of domestic economic assistance flowed into the new German states until the mid-1990s. Since 2000 A period of change The new millennium also saw the start of a new era for KfW. Institutionally the promotional bank has changed as never before. KfW Bankengruppe has emerged from the Kreditanstalt für Wiederaufbau. Environmental and climate protection projects are just as much a focus as the funding of education and SMEs. Responsibility defines the identity of KfW and underlines the difference between it and other companies that are more heavily aligned toward commercial and performancerelated objectives. More education: KfW funds daycare centres and schools The KfW Bankengruppe emerges from the Kreditanstalt für Wiederaufbau

20 Photos KfW-Bildarchiv: Title: Photographer Thomas Klewar; p. 7: Photoagency photothek.net; p. 10: Photographer Frank Homann; p. 19 (middle) Photo agency photothek.net; Historisches Konzernarchiv: p. 18 (middle); p. 18 (bottom); KfW-Pressearchiv: p. 19 (bottom): Photographer Dr. Stephan Sperl; KfW Stiftung: p. 12: Photographer Jens Steingässer; Bundesarchiv: p. 18 (top): Plak ; Bundesregierung: p. 19 (top): Photographer Klaus Lehnartz; Getty Images: p. 5: Photographer Kristian Sekulic Version: April 2013 KfW Bankengruppe Palmengartenstrasse Frankfurt am Main Telefon Telefax info@kfw.de carbon neutral natureoffice.com DE print production