EANS-News: DVB Bank SE / Results for the first half of 2010: momentum picking up for DVB

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Financial Figures/Balance Sheet

Frankfurt am Main (euro adhoc) - 04 August 2010

Based on preliminary figures, consolidated net profit before taxes
amounted to EUR 59.0 million for the first half of 2010, down 3.8%
year-on-year.

Wolfgang F. Driese, CEO and Chairman of the Board of Managing
Directors, commented on DVB's results: "Following the slow start seen
during the first quarter, we are pleased with our results for the
first six months. The development in net interest income after
allowance for credit losses is particularly positive: in fact, it was
the best half-year figure for the last five years. Net fee and
commission income was the second highest during that period. This
demonstrates that we are able to deliver sustainable returns to our
shareholders, even during difficult market phases.

Even though new business is increasing again, reflecting notable
growth in global transport volumes, we still maintain a particularly
selective stance, as volatility on transport markets remains high.
Driven by the large number of new deliveries of ships and aircraft -
amongst other factors - these markets are set to stay volatile.
Hence, it is too early to sound the 'all clear' as far as risks are
concerned. Nevertheless, we are optimistic that we will be able to
post good results for the year as a whole."

At EUR 139.9 million, total income for the first half of 2010 was up
1.2 % year-on-year.

Net interest income rose by 26.3 % in the first half of 2010, to EUR
109.5 million (H1 2009: EUR 86.7 million). Two factors contributed to
this positive result: firstly, DVB was successful in virtually
eliminating the costs incurred due to money market distortions (which
had burdened the previous year's results); secondly, the Bank's
margins generated on new business remained high. Net allowance for
credit losses amounted to EUR 0.5 million in the first half of 2010
(H1 2009: EUR 10.7 million). Accordingly, net interest income after
allowance for credit losses rose by 43.4%, from EUR 76.0 million to
EUR 109.0 million.

DVB's fee and commission-based business generates loan commissions
from new Transport Finance exposures, as well as advisory fees. New
credit commitments, which had been at a low level during the first
quarter, clearly rose during the second quarter. The net fee and
commission income figure of EUR 41.3 million for the first half of
2010 was 18.9% below the record figure posted one year ago (H1 2009:
EUR 50.9 million).

The net result from financial instruments in accordance with IAS 39
(comprising net trading income, the hedge result, the result from the
application of the fair value option, the result from derivatives
entered into without intention to trade, and net income from
investment securities) was negative, at EUR -14.4 million (H1 2009:
EUR 4.4 million). Against the background of the financial markets
crisis, the figure particularly reflects increased volatility on
foreign exchange and interest rate markets.

General administrative expenses rose by 5.1% to EUR 80.9 million.
Staff expenses were up 7.8%, to EUR 48.1 million, due to higher
provisions for increased expenditure. Non-staff expenses were up
marginally, to EUR 32.8 million (+1.2%).

DVB reported total assets of EUR 20.3 billion as at 30 June 2010, up
17.3% from 31 December 2009 (EUR 17.3 billion). DVB's nominal
customer lending comprises the aggregate of loans and advances to
customers, guarantees and indemnities, and irrevocable loan
commitments: in euro terms, nominal customer lending rose by 12.1%,
from EUR 17.3 billion to EUR 19.4 billion. In US dollar terms,
however, customer lending declined by 4.8%, to USD 23.7 billion. The
divergence in portfolio developments was due to fluctuations in the
euro/US dollar exchange rate: since the end of 2009, the euro has
weakened against the US dollar, from USD 1.44 to USD 1.23 as at the
reporting date.

DVB's two strategic indicators, return on equity (RoE) before taxes
and the cost/income ratio (CIR) developed as follows: RoE before
taxes was down slightly, by 0.4 percentage points, to 12.8% (H1 2009:
13.2%). The CIR (excluding allowance for credit losses) rose by 5.9
percentage points to 57.6% (H1 2009: 51.7%).

DVB's tier 1 ratio stood at 13.7% (31 December 2009: 14.2%), and the
total capital ratio was 16.8% (31 December 2009: 18.0%).

The half-yearly financial report 2010 reviewed by auditors will be
published on 13 August 2010.

Note to Editors: DVB Bank SE, headquartered in Frankfurt/Main,
Germany, is the leading specialist in the international Transport
Finance business. The Bank offers integrated financing solutions and
advisory services in respect of Shipping, Aviation, and Land
Transport. The Bank operates out of offices in Frankfurt/Main,
Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich,
Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the
Frankfurt Stock Exchange (ISIN: DE0008045501).

Contact for this press release: Elisabeth Winter, Manager, Investor
Relations Phone +49699750-4329
{Elisabeth.winter@dvbbank.com}[HYPERLINK:
mailto:Elisabeth.Winter@dvbbank.com]

end of announcement euro adhoc
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ots Originaltext: DVB Bank SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Elisabeth Winter

Investor Relations

Tel: +49 (0)69-97504-329

E-Mail: elisabeth.winter@dvbbank.com

Branche: Banking
ISIN: DE0008045501
WKN: 804550
Börsen: Stuttgart / free trade
Düsseldorf / free trade
Frankfurt / regulated dealing/general standard