EXTRACT FROM THE CURRENT ANNUAL REPORT
Report of the Partners
The Warburg Banking Group can look back on a satisfactory fiscal year 2011. We again
demonstrated our profitability without drawing on government aid or the ECB’s liquidity support.
2011 was a year of two halves with an encouraging economic upturn through to the middle of the year
and an economic slowdown in the second half, marked by the southern European sovereign debt
In this environment, M.M.Warburg & CO KGaA (Warburg Bank) and
its subsidiary institutions in Germany, Luxembourg and Switzerland (Warburg Banking Group)
generated aggregate income before taxes of EUR 43.6 million (previous year: EUR 55.2 million).
Warburg Bank transferred a profit of EUR 40.7 million (previous year: EUR 50.6 million) to
M.M.Warburg & CO Gruppe (GmbH & Co.) KGaA.
Our activities are aimed at creating long-term value for our
clients, for the Bank and for our employees. M.M.Warburg & CO and its subsidiary institutions
operate mainly within Germany and in German-speaking countries.
The subsidiaries’ roots in their respective regions are of
considerable importance and something we will continue to cultivate going forward.
ANNUAL REPORTS OF PREVIOUS YEARS
The essays entitled “Current developments”, which are published annually with the annual report,
are available here for download.
Essay No 14 „Bankenkrise – Siechtum mit System“ von Dr. Christian Olearius und
Dr. Bernd Thiemann