KfW IPEX-Bank presents its financial statements for the 2017 financial year

Frankfurt am Main (ots) -

- KfW IPEX-Bank remains a reliable and strong partner to the
German and European export economies with new commitments of EUR
13.8 billion in 2017
- It contributed EUR 469 million to KfW's consolidated earnings,
thereby helping to secure long-term promotional capacity
- Anniversary - since its spin-off ten years ago, the bank has
supported the export economy in more than 3,000 projects with
loans totalling EUR 143 billion

KfW IPEX-Bank, a wholly-owned subsidiary of KfW which is
responsible for the Group's Export and Project Finance business
sector, today presented its 2017 financial statements, reporting an
overall volume of lending of around EUR 61.9 billion at year-end.
"Thanks to its high level of structuring expertise and industry
experience, KfW IPEX-Bank once again performed well in 2017 amidst
fierce competition, and granted new commitments of EUR 13.8 billion.
We therefore substantially underlined our business model as a
successful specialist financier for the German and European export
economies, which we assist in their international ventures by
providing appropriate, individually structured financing", explained
Klaus R. Michalak, CEO of KfW IPEX-Bank.

Volume of lending and commitments

Although the volume of lending as at 31 December 2017 decreased to
EUR 61.9 billion (2016 year-end: EUR 69.4 billion), this was largely
due to the devaluation of the US dollar against the euro, since
around 45 per cent of the bank's loans are denominated in US dollars.
In its original lending business, the specialist bank provided its
international customers with new loans totalling EUR 12.1 billion
(2016: EUR 14.4 billion), and there were also new commitments of
around EUR 1.7 billion (2016: EUR 1.7 billion) for bank refinancing
under the CIRR ship and ERP export financing programmes, which are
based on agency business agreements performed on behalf of the
Federal Republic.

Contribution of the Export and Project Finance business sector to
consolidated earnings

At EUR 581 million, the operating result of the Export and Project
Finance business sector, for which KfW IPEX-Bank is responsible, was
lower than in the previous year (EUR 645 million). It mainly
comprised net interest income and net commission income, less
administrative expense, which rose slightly in the reporting year. At
the same time, total risk provisions fell, although all recognisable
risks continued to be assessed conservatively. With a contribution of
EUR 469 million (2016: EUR 484 million) to consolidated earnings, the
business sector once again played an active role in securing the
long-term promotional capacity of KfW and reaffirmed KfW IPEX-Bank's
status as one of KfW Group's main sources of earnings. KfW IPEX-Bank
GmbH, as a legally independent and separate reporting entity,
reported a solid pre-tax profit from operating activities of EUR 113
million.

Anniversary and outlook

KfW IPEX-Bank has been operating successfully in the market for
ten years. On 1 January 2008, the bank was spun off from KfW as a
legally independent limited company with 441 employees. "By providing
tailored financing for over 3,000 projects and granting loan
commitments totalling EUR 143 billion, our bank has helped German and
European customers to compete in the global marketplace and thus made
a contribution to securing economic strength, employment and growth
in Germany and Europe", explained Michalak. "Moreover, KfW IPEX-Bank
aims to remain a dependable and internationally successful partner to
the German and European export economies in the future."

To achieve this goal, the bank intends to maintain its sales and
marketing activities at a high level across all sector departments
and regions, towards both its customers and its partners in the
financial sector. "We will continue to build on the trusting working
relationship with our financing partners and play an active role in
structuring tailor-made syndicate financing", stated Michalak. On
this basis, KfW IPEX-Bank's target for new commitments in the 2018
financial year is EUR 16.3 billion.

*****The full press release including an overview table of the key
financial figures is available in our newsroom at
https://www.kfw-ipex-bank.de/Press/***

KfW IPEX-Bank's Annual Report 2017, including the 2017 Corporate
Governance Report that KfW IPEX-Bank has voluntarily undertaken to
publish as part of KfW Group, is available to download at:
http://www.kfw-ipex-bank.de/en

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: axel.breitbach@kfw.de
Phone: +49 (0)69 7431 2961, Fax: 069 7431-9409, E-Mail:
Axel.Breitbach@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de

Original-Content von: KfW IPEX-Bank, übermittelt durch news aktuell