In the first half of 2009, the Group embarked on a comprehensive restructuring project, with the aim of concentrating the target market area in the Alps to Adriatic region and achieving a sustainable reduction to the cost base. As part of this, wide-ranging changes to the internal organisation and efficiency improvements are defined. The ongoing restructuring project is part of the restructuring plan being implemented by BayernLB, and was presented both to the Austrian authorities and to the Commission of the European Union. The restructuring project has a time horizon of five years and is currently in the implementation phase.