EANS-News: DVB Bank SE / DVB posts consolidated net income before IAS39 and taxes of EUR157.2 million - a 9.7% increase

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annual result

Frankfurt am Main (euro adhoc) - Frankfurt/Main, 7 March 2013 - DVB
increased total income before allowance for credit losses by 5.1%, to
EUR411.9 million (previous year: EUR391.9 million). Total income
after allowance for credit losses amounted to EUR341.2 million, which
corresponds to a rise of 2.6%.

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

"Once again, DVB posted a very good result, in testing times - a
confirmation of our business model, our market position, and the
expertise of our staff.

85% of the financings on our books are performing satisfactorily. We
expect asset values and charter rates in those shipping segments
particularly badly affected - dry bulk carriers, container carriers
and crude oil tankers - to bottom out in 2013. This leads us to
expect better conditions for 2014, the extent of which will depend
upon global economic momentum.

And even though the business environment during 2013 will be at least
as difficult as in the previous year, we are planning for
consolidated net income (before IAS39 and taxes) to be in line with
the results posted for 2012. From our point of view, this would once
again constitute a successful performance."

DVB concluded 158new Transport Finance transactions with an aggregate
volume of EUR4.6billion and an improved average interest margin of
352basis points (2011: 184new transactions, EUR5.6 billion, 313 basis
points).

Net interest income after allowance for credit losses declined by
20.0%, to EUR159.3 million (2011: EUR199.1 million) in spite of
successful new business origination; the decline was attributable to
higher risk costs. Allowance for credit losses amounted to EUR-70.7
million (2011: EUR-59.2 million).

Net fee and commission income, which largely consists of commissions
from lending business, asset management and advisory services, grew
by 12.5%, from EUR116.2 million to a record high of EUR130.7 million.

Net other operating income/expenses increased from EUR17.3 million to
EUR42.7 million. In June 2012, DVB sold a 60% stake in TES Holdings
Ltd, the British aero engine specialist, to two renowned Japanese
investors. The two new partners - Mitsubishi Corporation, and
Development Bank of Japan, Inc. - acquired 35% and 25%, respectively.
DVB remains the largest shareholder, with a share of 40%.

General administrative expenses were down 2.9%, to EUR184.0 million,
mainly due to the deconsolidation of TES. Staff expenses of EUR101.5
million were down 6.9% year-on-year (2011: EUR109.0 million), whilst
at EUR77.9 million, non-staff expenses were up 3.0% (2011: EUR75.6
million). Consolidated net income before IAS39 and taxes rose by
9.7%, from EUR143.3 million to EUR157.2 million.

Burdened by still volatile net result from financial instruments in
accordance with IAS39 (down from EUR4.4 million to EUR-15.8 million),
consolidated net income before taxes decreased by 4.3% to EUR141.4
million (2011: EUR147.7 million). Consolidated net income after taxes
totalled EUR124.9 million, an increase of 13.1% (2011:EUR110.4
million).

The key strategic indicators reflected the successful development of
business: the return on equity before taxes was 12.9% (previous year:
14.0%), and the cost/income ratio was improved to 46.5% (previous
year: 47.8%).

DVB's total assets rose by 8.2%, from EUR22.0 billion to EUR23.8
billion. DVB's nominal customer lending (the aggregate of loans and
advances to customers, guarantees and indemnities, irrevocable loan
commitments, and derivatives) increased by 2.3%, to EUR22.2 billion
(previous year: EUR21.7 billion).

DVB's capital ratios, determined in accordance with BaselII
(following the confirmation of profits in the financial statements)
developed as follows: the tier 1 ratio was 20.3% (2011:19.7%) and the
total capital ratio 23.6% (2011: 21.8%).

The Board of Managing Directors and the Supervisory Board will
propose to DVB Bank SE's Annual General Meeting, which will be held
on 13 June 2013, to pay an unchanged dividend of EUR0.60 per notional
no-par value share. In this way, DVB will provide its shareholders
with an adequate dividend yield of 2.47%, whilst further
strengthening the Bank's liable capital.

You can find a video commentary on the results for 2012 by Wolfgang
F. Driese, CEO and Chairman of the Board of Managing Directors of DVB
Bank SE, on our website: {www.dvbbank.com}[HYPERLINK:
http://www.dvbbank.com]. As an additional service, news aktuell will
upload a gallery with photographs from the press conference, which
will be available for download on {www.eventbildservice.de}around
1:00 p.m..

Contact for this press release:

Elisabeth Winter
Senior Vice President
Head of Investor Relations
Phone: +49 69 9750-4329
E-Mail: elisabeth.winter@dvbbank.com

About DVB Bank SE:

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). Further
information is available on {www.dvbbank.com}[HYPERLINK:
http://www.dvbbank.com].

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