Left: Coat of arms of Munich (Source: Wikimedia Commons). Right: The lesser coat of arms of Bavaria, with the "fusilly in bend argent and azure" pattern (Source: Wikimedia Commons).
The inscription on the left, Skt Benno Stadtpatron, means "St. Benno, Patron of the City." On the right are his dates. His mitre and crozier identify him as a bishop, and the fish in his right hand is his attribute.
Standing at Benno's left is the Münchner Kindl, the boy in a monk's habit who is pictured on the coat of arms of Munich. The shield at the base of the statue features Benno's fish on a background called "fusilly in bend argent and azure," denoting the state of Bavaria.
