EANS-News: DVB Group: Sound operating performance during the first nine months of 2012 - Total income up 6.2%, to EUR262.7 million

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9-month report

Frankfurt am Main (euro adhoc) - Under the following link you can
find all relevant information compiled in a modern, interactive
multimedia release:
http://www.golinharris.de/clients/dvb/presse/PR_11-14-2012.html

Consolidated net income before IAS 39 and taxes rose to EUR125.6
million - a remarkable 7.8% year-on-year increase. Once again, the
volatile net result from financial instruments in accordance with IAS
39 weighed on income before taxes which - as a result - declined by
2.0%, to EUR104.3 million.

Wolfgang F. Driese, CEO and Chairman of the Board of Managing
Directors, assessed DVB's consolidated nine-month results:

"DVB has been able to report very good operating results for the
first nine months of 2012. A key reason in this respect is the fact
that the vast majority of exposures in our Transport Finance business
are performing in line with contractual agreements. The high level of
diversification in our portfolio is paying off.

In certain subsectors of our shipping finance business the crisis has
deepened further though. We responded to this by carrying out an even
more cautious assessment of our lending portfolio during the third
quarter. As a result, net allowance for credit losses increased to
EUR53.3 million for the first nine months of 2012 (compared to
EUR19.2 million last year). From today's perspective this level of
provisioning should be sufficient. Accordingly, we do not anticipate
allowance for credit losses for the full year 2012 to materially
exceed the previous year's figure of EUR59.2 million.

The market environment remains very difficult indeed in some areas of
maritime shipping. Despite the negative business framework in some
sectors, and weaker growth rates in the world economy, DVB expects to
achieve fully satisfactory results for the 2012 business year which
are not expected to materially diverge from the previous year's
figures."

Total income (comprising net interest income after allowance for
credit losses, net fee and commission income, results from equity
interests accounted for using the equity method, and net other
operating income/expenses) rose by 6.2%, from EUR247.4 million to
EUR262.7 million.

Net interest income grew by 2.2%, to EUR185.2 million. New Transport
Finance business totalled 93 transactions in the year to 30 September
2012, with an aggregate volume of EUR2.8 billion (9m 2011: 109
transactions with a volume of EUR3.3 billion). When originating new
business, DVB continued to target only those exposures which offer a
sustainable risk/return ratio. Accordingly, the average interest
margin on new Transport Finance business rose from 297 to 357 basis
points.

Net allowance for credit losses increased to EUR53.3 million (9m
2011: EUR19.2 million). Specifically, new allowance recognised for
credit losses (as at 30 September 2012) totalled EUR110.0 million; a
net EUR57.1 million was released, and charge-offs amounted to EUR29.9
million.

Net fee and commission income of EUR90.8 million (9m 2011: EUR76.1
million) exceeded the previous year's high level by a remarkable
19.3%; the net figure primarily includes fees and commissions from
new Transport Finance business, and asset management and advisory
fees.

Net other operating income/expenses rose from EUR11.8 million to
EUR42.3 million. Net other operating income of EUR53.1 million also
includes the proceeds from the sale of shareholdings. On 14 June
2012, the Bank sold a 60% stake in TES Holdings Ltd, the British aero
engine specialist headquartered in Bridgend, Wales, to two Japanese
investors. The two new partners - Mitsubishi Corporation, and
Development Bank of Japan, Inc. - acquired 35% and 25%, respectively.
DVB Holding GmbH remains the largest shareholder, with a share of
40%.

General administrative expenses rose 4.7%, to EUR137.1 million. Staff
expenses were up by 6.2%, to EUR75.9 million. DVB employed a total of
560 staff as at 30 September 2012, an increase of 16 compared to the
end of the first nine months of 2011 (544 employees). Higher bank
levy charges and contributions to the deposit insurance scheme, meant
that non-staff expenses (including depreciation, amortisation and
write-downs) rose by EUR1.8 million, to EUR61.2 million.

Net income 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) changed from EUR-10.1 million to EUR-21.3
million. Once again, the net figure reflects the level of volatility
on foreign exchange and interest rate markets.

DVB's total assets rose by 10.0%, from EUR22.0 billion to EUR24.2
billion. DVB's nominal volume of customer lending (the aggregate of
loans and advances to customers, guarantees and indemnities,
irrevocable loan commitments, and derivatives) was unchanged
year-on-year in euro terms, at EUR21.7 billion, and also in US dollar
terms, at US$28.1 billion.

Return on equity before taxes amounted to 12.7%, down 1.1 percentage
points compared with the same period of the previous year (9m 2011:
13.8%). DVB lowered its cost/income ratio by 4.6 percentage points,
to 46.5% (9m 2011: 51.1%).

Calculated in accordance with Basel II, DVB's tier 1 ratio declined
slightly, by 0.2 percentage points, to 19.5% (31 December 2011:
19.7%), whilst the total capital ratio was up slightly, by 0.8
percentage points compared to the year-end 2011, to 22.6% (31
December 2011: 21.8%).

You can find a video commentary on the nine-month results by Wolfgang
F. Driese, CEO and Chairman of the Board of Managing Directors of DVB
Bank SE, together with the detailed interim management statement
during the second half of 2012, on our website: www.dvbbank.com.

Contact for this press release:
Elisabeth Winter, Head of Investor Relations: +49 69 9750-4329 -
elisabeth.winter@dvbbank.com

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 Finance, Aviation Finance,
and Land Transport Finance. DVB is present at all key international
financial centres and transport hubs: at its Frankfurt/Main head
office, as well as various European locations (Athens, Bergen,
Hamburg, London, Oslo, Rotterdam and Zurich), plus offices in the
Americas (New York City and Curaçao) and in Asia (Singapore and
Tokyo). DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN:
DE0008045501). www.dvbbank.com

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Further inquiry note:
Elisabeth Winter
Head of Investor Relations
Tel: +49 (0)69-97504-329
E-Mail: elisabeth.winter@dvbbank.com

end of announcement euro adhoc
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company: DVB Bank SE
Platz der Republik 6
D-60325 Frankfurt am Main
phone: +49 (0)69 9750-40
FAX: +49 (0)69 9750-4444
mail: info@dvbbank.com
WWW: http://www.dvbbank.com
sector: Banking
ISIN: DE0008045501
indexes:
stockmarkets: free trade: Düsseldorf, Stuttgart, regulated dealing/general
standard: Frankfurt
language: English