How Fischer’s plans fell apart at WestLB
Betting on the wrong horse
| Differing levels of efficiency | |||||||
| Landesbanks 2004–06 (Listed by cost/income ratio) | |||||||
| Landesbank | Employees | Economic value added@5%b (€mln) | Economic value added @9%b (€mln) | Economic value added per employee @5%b (€’000) | Economic value added per employee @9%b (€’000) | Personnel-cost per employee(€’000) | Cost/income ratio (%) |
| HSH Nordbank | 4,380 | 685 | 559 | 156 | 128 | 94 | 44.63 |
| Bremer LB | 994 | 77 | 51 | 78 | 52 | 94 | 47.86 |
| Sachsen LB | 613 | 24 | -8 | 40 | -12 | 91 | 51.39 |
| LRP | 1,628 | 100 | 57 | 61 | 35 | 86 | 51.70 |
| LBBW | 12,843 | 936 | 644 | 73 | 50 | 73 | 51.96 |
| SaarLB | 635 | 24 | 8 | 38 | 13 | 66 | 54.97 |
| BayernLB | 9,525 | 807 | 519 | 85 | 54 | 79 | 58.37 |
| NORD/LB | 6,856 | 302 | 136 | 44 | 20 | 75 | 66.68 |