Disclosure report of CSI LifeCycle Leasing GmbH pursuant to the Regulation regarding Remuneration in Financial Institutions (Institutsvergütungsverordnung)

  1. Business Model
    CSI is a leasing company and therefore a financial services institution according to the German Banking Act (Kreditwesengesetz – KWG). Our balance sheet total amounted to EUR 144,6 million until 30th June 2016.Our business is limited to products of the leasing industry and our customers are mostly medium and large size companies based in the territory of the Federal Republic of Germany. Accordingly, cross-border transactions with customers from the neighboring countries are only being operated in a manageable size.
  2. Information concerning the compliance of the Institute Compensation Regulation
    The remuneration of employees/staff is generally effected on the basis of individual agreements. Some employees will receive only a fixed salary, others receive in addition a variable salary component.Such variable components going beyond the fixed proportion of the salary are moored in principle on the overall development of the enterprise and depend on the achievements of objectives in the area of activity.Fixed and variable remuneration of management and our employees are in proportion to each other; disincentives to enter into disproportionate exposures do not arise because the majority of the remuneration is fix.Our compensation arrangements are consistent with our strategic objectives and do not baffle these. This means that our staff and our Board receive an appropriate fixed remuneration for their work and that – as far as variable compensation components are agreed – the principles of the payment are in accordance with the strategic goals of the company and are focused in particular on a sustainable development of the company.

    Our remuneration system sets no incentives to the entering of disproportionate risks. Due to our low-risk business model only a few people bear risk responsibility.

    In the area of control units we use no incentives that run counter to the monitoring function of these units, because to a high percentage, the remuneration is fixed.

    Our entire staff costs (p & l) including the employer share of social security contributions amounted to EUR 2,4 million in fiscal year 2015/2016.

    The fixed remuneration amounts to 71,85 %. The variable compensation share amounts to 28,15 %.

    In fiscal year 2015/2016, 23 employees received a variable compensation.

    CSI LifeCycle Leasing GmbH
    Neu-Isenburg, 10th of April 2017