Corporate Governance and Compliance

Annual Financial Statements of KfW Capital

The Annual Financial Statements unter commercial law are published at www.bundesanzeiger.de

Corporate Governance

KfW Capital complies with the “Public Corporate Governance Code” (PCGC) adopted by the German Federal Government on 1 July 2009. The code is specifically directed at companies in which the Federal Republic holds a stake and formulates good corporate governance standards in the form of recommendations designed to make the governance and supervision of these enterprises more transparent and verifiable.

KfW Capital publishes annually its corporate governance report on the past financial year:

2018 Corporate Governance Report of KfW Capital including Declaration of Conformity (in German), April 2019

2019 Corporate Governance Report of KfW Capital including Declaration of Conformity (in German),  April 2020

2020 Corporate Governance Report of KfW Capital including Declaration of Conformity (in German), April 2021

Code of Conduct

Legally and ethically compliant behavior is the responsibility of KfW Capital. To this end, the managing directors commit themselves in the code of conduct of KfW Capital.

Compliance

The compliance organisation of KfW Capital has implemented measures for data protection and securities compliance as well as the prevention of conflicts of interest, money laundering, the financing of terrorism and other criminal acts. The related rules, processes and controls are continually adapted to the corresponding legal and regulatory legal framework and market requirements. Compliance trainings for KfW Capital employees are held regularly.

Whistle-blower system

KfW Capital has introduced a confidential whistle-blower system. This system is rolled out for all companies of the KfW Group. More informations about the whistle-blower system and about the (extern) ombudsperson you find here.