Annual Report 2010 - Muenchener Hypothekenbank eG

02 | 03 münchener hypothekenbank eg | annUaL report 2010 contents LETTER fRoM ThE BoARd of MANAgEMENT 6 MANAgEMENT REPoRT 11 ovERALL ECoNoMiC CoNdiTioNS 11 BuSiNESS dEvELoPMENT ANd ovERALL CoNdiTioNS 21 EARNiNgS, fiNANCiAL ANd ASSET SiTuATioN 31 RiSK REPoRT 37 CoRPoRATE PLANNiNg ANd ouTLooK 47 BALANCE ShEET 56 iNCoME STATEMENT 60 STATEMENT of dEvELoPMENT iN EQuiTY ANd CASh fLoW STATEMENT 62 NoTES 65 REPoRT of ThE SuPERviSoRY BoARd 89 ThE MEMBERS of ThE dELEgATES MEETiNg 91 ExECuTivE MANAgEMENT ANd BodiES 92 CoNTACT 93 iMPRiNT 97 cONTENTS