EANS-Adhoc: DVB Bank SE posts record Group results for 2010

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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10.03.2011

DVB Bank SE's clearly-defined business model, with a unique focus on global
transport finance, once again proved its mettle throughout 2010 - in a business
environment that continued to be challenging. Based on preliminary, still
unaudited figures, the Bank posted record consolidated net income before taxes
of EUR131.1 million, a 51.4% increase over the previous year's figure of
EUR86.6 million.

Specifically, 2010 results comprised the following components:

Net interest income amounted to EUR193.0 million. DVB originated 140 new
transactions in the international transport market. New Transport Finance
business totalled EUR4.5 billion (previous year: EUR2.8 billion). With an
average interest margin of 327 basis points (previous year: 354 basis points),
the Bank ensured that the risk/return ratio of its new business was adequate.

Whilst continuing tensions on international transport markets - particularly in
maritime shipping - burdened DVB's portfolios, the Bank's risk management
functioned very well, thanks to numerous pro-active and targeted measures.
Allowance for credit losses amounted to EUR52.0 million during the period under
review (2009: EUR72.2 million). Specific allowances for credit losses remained
at the previous year's levels (2010: EUR86.0 million; 2009: EUR86.8 million),
whilst there was no recurrence of portfolio impairment allowance, to the extent
seen in 2009 (2010: EUR1.3 million; 2009: EUR23.4 million).

Consolidated net fee and commission income, which primarily includes fees and
commissions from lending business, and - to an increasing extent - asset
management and advisory fees, rose to EUR124.4 million, up 27.2% year-on-year
(2009: EUR97.8 million). Attractive new Transport Finance business was also the
main contributor here.

Net income from financial instruments in accordance with IAS 39 showed a
significant 68.7% increase, from EUR17.9 million to EUR30.2 million, reflecting
market volatility in interest rates and currencies during the course of 2010.
The comparable figures for 2008 and 2009 had burdened the IAS 39 result by the
impairment of a bank bond; no further write-downs were required in 2010.

General administrative expenses rose by 12.6%, to EUR176.2 million
(previous year: EUR156.5 million). Staff expenses of EUR101.5 million were up
13.5% year-on-year (previous year: EUR89.4 million). Due to the Bank's very good
business performance, provisions for payments to employees under DVB's Long-Term
Incentive Plan were recognised for the first time since 2008. At
EUR69.0 million, non-staff expenses were up 10.0% (previous year:
EUR62.7 million).

At EUR21.2 billion, the volume of business in 2010 was up 11.0% on the previous
year (2009: EUR19.1 billion). DVB's total assets also increased, to
EUR19.3 billion on the reporting date (2009: EUR17.3 billion). The Bank's
nominal customer lending for regulatory purposes (the aggregate of loans and
advances to customers, guarantees and indemnities, derivatives, and irrevocable
loan commitments) increased by 11.0%, to EUR19.2 billion (2009:
EUR17.3 billion).

DVB's capital ratios, determined in accordance with Basel II and following the
confirmation of profits in the financial statements, developed as follows: the
tier 1 ratio in accordance with Basel II was 18.9% (2009: 14.2%), and the total
capital ratio 22.4% (2009: 18.0%).

DVB Group's key strategic indicators also improved: return on equity before
taxes was 13.9% (2009: 9.4%), and the cost/income ratio stood at 49.0%
(2009: 49.6%).

The Board of Managing Directors and the Supervisory Board will propose to DVB
Bank SE's Annual General Meeting, which will be held on 9 June 2011, to pay an
unchanged dividend of EUR0.60 per notional no-par value share. In this way, DVB
will provide its shareholders with a good dividend yield of 2.40%, whilst
further strengthening the Bank's liable capital. DVB's capitalisation already
complies with capital requirements under Basel III which are currently under
discussion.

Frankfurt/Main, 10 March 2011

DVB Bank SE

THE BOARD OF MANAGING DIRECTORS

Wolfgang F. Driese Bertrand Grabowski Dagfinn Lunde

Further inquiry note:
Elisabeth Winter
Investor Relations
Tel: +49 (0)69-97504-329
E-Mail: [email protected]
end of announcement euro adhoc
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issuer:      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:        [email protected]
WWW:         http://www.dvbbank.com
sector:      Banking
ISIN:        DE0008045501
indexes:

stockmarkets: free trade: Stuttgart, Düsseldorf, regulated dealing/general standard:
Frankfurt
language: English

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