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Annual Report 2018 1 | DKB Annual Report 2018 | Key Figures

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Annual Report 2018 1 | DKB Annual Report 2018 | Key Figures Annual Report 2018 1 | DKB Annual Report 2018 | Key figures Performance indicators EUR millions 2018 2017 Net interest income 976.7 935.2 Risk result1 111.8 127.3 Net commission income –33.7 –39.2 Administrative expenses 474.7 446.3 Profit/loss before taxes 301.2 264.7 Cost/income ratio (CIR) in % 51.5 50.8 Return on equity (RoE) in % 10.2 9.6 Balance sheet figures EUR millions 2018 2017 Total assets 77,387.6 77,322.9 Equity 3,340.4 3,255.5 CET1 ratio in % 9.1 8.6 Client receivables 65,932.5 64,552.2 Client deposits 54,366.1 53,931.0 Customer figures 2018 2017 Number of clients 4,073,875 3,761,498 Number of retail current accounts (DKB Cash) 2,980,293 2,746,526 Employee figures 2018 2017 FTE | headcount as at 31 Dec. 3,431 | 3,731 3,084 | 3,379 Average age in years 42.9 43.1 Average length of service in years 8.4 8.5 Gender breakdown m | f in % 43.8 | 56.2 43.3 | 56.7 Gender breakdown by management position m | f in % 62.4 | 37.6 60.5 | 39.5 Workforce availability in % 95.1 95.1 Training days/employee 3.8 3.4 1 Risk provision until 2017 2 | DKB Annual Report 2018 Company profile Deutsche Kreditbank AG (DKB), with approximately 3,700 employees and total assets of EUR 77.4 billion, is one of Germany’s top 20 banks. Our products are leaders in the market and are distinguished by fair terms. We serve more than 4 million clients. They are able to conduct their banking transactions com- fortably and securely online using the latest technology. Our industry experts assist our business clients in person at their offices. Entrepreneurial and sustainable actions are of great importance to us: this is why we use around 85% of our net assets for loans, such as for the construc- tion of apartments suitable for the elderly and families, energy-efficient real estate, outpatient and inpatient health facilities, and for construction projects in schools and day-care centres in Germany. We ensure that the local agricultural sector remains competitive by investing in factors of production and bioenergy. We have also financed a number of renewable energy projects in wind, sun and water since 1996. We foster a culture of appreciation and togetherness – both among ourselves as well as with our clients and business partners. A variety of tasks and devel- opment opportunities for our employees and optimal framework conditions for daily working life make us a responsible and attractive employer. The DKB MANAGEMENT SCHOOL is our in-house further education and training acad- emy for strengthening our employees’ and clients’ competencies. Our social commitment through our foundation, the DKB STIFTUNG, is proactive and comprehensive. 3 | DKB Annual Report 2018 | Contents Contents Letter from the Board of Management 4 Executive bodies 6 Report of the Supervisory Board 9 Combined management report of the DKB Group and DKB AG 11 Basic principles of the Group 12 Report on the economic position 16 Results of operations and net assets of the DKB Group (IFRS) 26 Results of operations and net assets of DKB AG (HGB) 36 Financial position of DKB 41 Non-financial performance indicators 42 Non-financial statement 48 Report on opportunities and risks 49 Report on expected developments 74 Consolidated financial statements 79 Consolidated statement of comprehensive income 80 Consolidated balance sheet 84 Consolidated statement of changes in equity 86 Consolidated cash flow statement 87 Notes 90 Additional information 186 Responsibility statement by the Board of Management 187 Independent auditor’s report 188 Multi-year overview 195 Contact and legal notice 196 4 | DKB Annual Report 2018 | Letter from the Board of Management Letter from the Board of Management Dear Sir or Madam, We can look back on a very successful financial year which worlds of work. We shape the future together at DKB by fills us with pride. Given the many strategic, regulatory focusing on technological innovations for ourselves and and operational challenges we face as a bank, this is not our clients in order to ensure client-facing banking in the something we take for granted. The consistent focus on our future as well. business model, our digitalisation strategy and, last but not least, our innovative strength are paying off. We experienced strong growth again in 2018. We sur- passed the 4 million mark in our number of retail clients. In 2018, we improved earnings before taxes once again And more are being added daily. This shows that our by EUR 36.5 million to EUR 301.2 million compared with portfolio meets the needs of the market. We are working the very good figure for the previous year. Net interest hard on this. In the past financial year, we again optimised income increased by 4.4% to EUR 976.7 million. But our products, functions and services, for example by digitising costs have also increased. Consistent investments in the credit process for instalment loans and construction digitalisation for a future as a tech-bank, in measures financing. to expand security systems and in rising expenses for bank levies, deposit insurance and banking supervision In the business client segment, the expansion of our local resulted in higher administrative expenses than in the presence last year proved to be an excellent strategy. Our previous year. industry expertise, our unique network and the creation of additional client value, such as with the new digital We live in eventful times. The challenges are increasing. inter-company comparison for farmers, coupled with Our aspiration is long-term economic success. Our aim is personal support for our business clients, are key factors to inspire our clients, our employees and society with sus- contributing to our growth. tainability and fairness. We have positioned and further developed ourselves accordingly. We also performed well in the area of issues; with the suc- cessful placement of our social public bond in September We continued to focus on our goal of developing DKB into 2018, we are the first commercial bank to introduce both a tech-bank in 2018. To further our digital initiative, we green and social bonds onto the market in Germany. founded the DKB Code Factory in the middle of the year. This in-house start-up with extensive digital expertise de- In view of the enormous dynamism of the market, we will velops new innovative products and services for our clients ramp up our pace of development even more in the cur- and supports the modernisation of our IT infrastructure rent year. The underlying conditions remain challenging: internally. the European Central Bank is maintaining its low interest rate. Competition will continue at a high level in all our For us, digitalisation is more than just keeping up with business segments and spur us on. We have a lot planned the times. It is at the heart of our existence. Digitalisation for 2019 – including the consistent digitalisation of the affects all areas of our bank – internally and externally, as lending process and the enhancement of automated well as every individual in the company. We create modern decision-making processes in order to become even faster. 5 | DKB Annual Report 2018 | Letter from the Board of Management In addition, we will focus on digital product innovation for Our employees are the basis for our success. Together all our clients. with you, your ideas and your commitment, we want to continue to make DKB the number one for our clients, We would like to thank our clients and business partners partners and employees. Throughout Germany. This is our for their trust. In times of dynamic change, we support goal. We are well on our path and highly motivated. The them with innovative and digital offerings which are also spirit is right. Thank you for being on board. sustainable in the long term. We will continue to drive forward the digitalisation process and the sustainable focus of our solutions and products in order to live up to The Board of Management our own expectations of a modern tech-bank. March 2019 Stefan Unterlandstättner Tilo Hacke Thomas Jebsen Alexander von Dobschütz Jan Walther 6 | DKB Annual Report 2018 | Executive bodies Executive bodies Board of Management Stefan Unterlandstättner Rolf Mähliß (until 31 March 2018) Tilo Hacke Chair of the Board of Management Member of the Board of Management Member of the Board of Management • Strategy and investments • Finance • Retail clients • Business with savings banks • Compliance • Business clients • Human resources and legal • Processes – Food and agriculture • Sustainability • Mid Office – Renewable energy • Treasury • IT – Tourism • Corporate communication, marketing • Data protection and security • Central and South-East sales region • Digital transformation • Internal audit Thomas Jebsen Alexander von Dobschütz (from 1 January Jan Walther (from 1 April 2018) Member of the Board of Management 2018) Member of the Board of Management Member of the Board of Management • Business clients • Finance – Housing industry • Risk controlling • Organisation – Local authorities and social infrastructure • Compliance • Operations and Banking Services – Energy and utilities • Back office • IT • Individual clients • Workout • Data Protection and Occupational Safety • Sales regions North, South, Berlin-Branden- • Non-Financial Risk burg, South-West, Magdeburg-Hanover and West 7 | DKB Annual Report 2018 | Executive bodies Supervisory Board Shareholders’ representatives: Employee representatives: Dr Edgar Zoller Michael Huber Bianca Häsen From 25 January 2019 Chair of the Board of Management of Deputy Chair of the Supervisory Board Chair of
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