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Annual Report 2017 Deutsche Kreditbank AG Annual Report 2017 We open up new perspectives for local authorities, companies and people 2DKB | DKB Annual Annual Report Report 2017 2017 Company profile Inclusion and diversity are of great importance to us. The statements that follow therefore apply to all people, irrespective of their identity. For ease of reading, we use gender-neutral language in the text. Company profileChapter | 1 title | 1 Deutsche Kreditbank AG (DKB), with approximately 3,400 employees and total assets of EUR 77.3 billion, is one of Germany’s top 20 banks. Our products are leaders in the market and distinguished by fair terms. We serve more than 3.7 million clients. They are able to conduct their banking transactions comfortably 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 approx. 83 % of our net assets for loans, such as for the construction of apartments suitable for the elderly and families, energy-efficient real estate, out- patient and inpatient health facilities, and for con- struction 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 together- ness – both among ourselves as well as with Deutsche Kreditbank AG our clients and business partners. A variety of tasks and development 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 academy for strengthening our em- ployees’ and clients’ competencies. Our social commitment through our foundation, the DKB STIFTUNG, is proactive and comprehensive. Opening up perspectives | 3 Opening up perspectives Deutsche Kreditbank AG We believe that, as a bank, we should provide more than just loans. For this reason, we connect with like-minded people, build networks and provide new impetus. This creates technolog- ical innovations and meaningful new offerings, which we use to assist our clients in realising their ideas beyond the usual level provided by banks. 4 | DKBDKB AnnualAnnual ReportReport 20172017 “New solutions are good if they provide clients with added value.” Henriette Lüderitz Transformation Lab employee Digital innovation Digital transformation is fundamentally changing the economy. For us as a bank, the question is not how, but where we want to play a role. Our answer is: at the forefront. We therefore invest continuously in our own infrastructure and combine our strengths with the strengths of those who offer innovative and, at the same time, sustainable technologies. Opening up perspectives | 5 Deutsche Kreditbank AG 6 | DKBDKB AnnualAnnual ReportReport 20172017 “Successful dialogue opens many Silke Baack doors.” Structural engineer at DKB Vibrant network Successful cooperation requires a com- mon understanding – of the issue and of the goals. It is also important to be able to make the right connections at the right time. We do not want to leave this to chance. That is why we focus on continu- ous dialogue with the best, even across industry boundaries. We network with the health, housing, energy and agricul- ture associations, and with the future key players of our economy. Opening up perspectives | 7 Deutsche Kreditbank AG 8 | DKBDKB AnnualAnnual ReportReport 20172017 “Finding solutions together with a view to Martin Vorpahl tomorrow”. Civic participations employee Sustainable commitment We are committed to sustainability and know that this is a complex task that we must tackle in all areas. We do this by financing future markets and keeping the environment in mind in everyday life. We accept our responsibility as an em- ployer and take on tasks in the interests of society. To ensure that we are not paying mere lip service, we have our performance measured in each of these areas. Opening up perspectives | 9 Deutsche Kreditbank AG 10 | DKBDKB AnnualAnnual ReportReport 20172017 “Freedom and discussion are the best breeding ground for new Rainer Johannsen ideas.” Hamburg Branch Manager Effective knowledge transfer Innovation cannot be forced. But by creat- ing the right conditions, we can contribute to the development of good ideas and progress. Our interactions with academia help us in this respect. We cooperate close- ly with universities and gain additional expertise through internal event series. We use the knowledge gained in this way to further optimise our products and pro- cesses. Opening up perspectives | 11 Deutsche Kreditbank AG 12 | DKBDKB AnnualAnnual ReportReport 20172017 “We rely on team spirit because together we can achieve Thomas Pönisch Division Head Risk Office, more.” European fencing champion (40+) Sporting achievements Many of our employees are active in sports themselves. But also as a company, we are committed to sports in areas where targeted support can make a real differ- ence: we have sponsored top German athletes in their clubs and associations for many years. Together with the athletes, we are regularly delighted by top placings in major competitions. At our locations, we partner with regional sports clubs. We sup- port the teams locally, making a tangible contribution to the quality of life in our immediate environment. Opening up perspectives | 13 Deutsche Kreditbank AG 14 | DKBDKB AnnualAnnual ReportReport 20172017 “We do not aim to win prizes, but they confirm we are on the right Bettina Stark path.” Division Head Retail Clients Fair service Our demands on our services are high: we want to be the primary bank for each and every one of our clients – their pri mary bank and a trustworthy partner for all financial matters. This is the foundation on which we develop client-oriented solu- tions that are recognised as leaders in our market: in terms of service, usability and fairness. Opening up perspectives | 15 Deutsche Kreditbank AG 16 | DKB Annual Report 2017 Performance indicators EUR millions 2017 2016 Net interest income 935.2 795.1 Risk provisions 127.3 128.7 Net commission income –39.2 6.9 Administrative expenses 446.3 417.0 Profit/loss before taxes 264.7 331.2 Cost/income ratio (CIR) in % 50.8 % 45.8 % Return on equity (RoE) in % 9.6 % 12.4 % Balance sheet figures EUR millions 2017 2016 Total assets 77,322.9 76,522.3 Equity 3,255.5 3,019.1 Core capital ratio in % 8.8 % 8.9 % Client receivables 64,552.2 63,228.3 Client deposits 53,931.0 53,438.0 Customer figures 2017 2016 Number of customers 3,761,498 3,518,055 Number of retail current accounts (DKB-Cash) 2,746,526 2,501,689 Employee figures 2017 2016 FTE | headcount as at 31 Dec. 3,084 | 3,379 3,032 | 3,316 Average age in years 43.1 42.8 Average length of service in years 8.5 8.2 Gender breakdown m | f in % 43.3 | 56.7 41.7 | 58.3 Gender breakdown by management position m | f in % 60.5 | 39.5 61.1 | 38.9 Workforce availability in % 95.1 95.0 Training days | employee 3.4 3.4 Contents | 17 Contents Letter from the Board of Management 18 Executive bodies 21 Report of the Supervisory Board 24 Highlights 26 Awards 30 Combined management report of the DKB Group and DKB AG 33 Deutsche Kreditbank AG Basic principles of the Group 34 Report on the economic position 39 Non-financial performance indicators 65 Non-financial statement 72 Report on opportunities and risks 73 Report on expected developments 100 Consolidated financial statements 105 Consolidated statement of comprehensive income 106 Consolidated balance sheet 108 Consolidated statement of changes in equity 110 Consolidated cash flow statement 111 Notes 114 Additional information 203 Responsibility statement by the Board of Management 204 Independent auditor’s report 205 Multi-year overview 210 Contact and legal notice 211 18 | DKB Annual Report 2017 DKB’s Board of Management (from left to right): Alexander von Dobschütz, Tilo Hacke, Stefan Unterlandstättner (Chair), Rolf Mähliß, Thomas Jebsen Letter from the Board of Management | 19 Letter from the Board of Management Dear Sir or Madam, DKB continued its successful track record in 2017. The the difficult interest rate situation and high pressure on ambitious targets we set ourselves at the beginning of margins. As in previous years, part of our profits was used the year were achieved and in some cases even exceeded. to top up our equity. However, the general conditions remained challenging. As expected, the European Central Bank maintained its low In the retail clients business, we gained 373,000 new interest rate. Competition continued at a high level in all clients last year. This exceeded our expectations and our business segments. shows that we are meeting the needs of the market with our anchor product, DKB-Cash. Just like with our strat egy This significantly increased the development pressure for of not attracting new clients with premiums and special our company in 2017 – not only with regard to our offerings, conditions, but offering better services in the long term. but above all our productivity. Our aim is not short-term success; we want to convince with sustainability and fairness and be a long-term partner The fact that the pressure is rising rather than falling is for our clients. We believe this will also pay off in terms of not unexpected. We introduced numerous measures at earnings in the long term. an early stage to further develop our services and further increase efficiency. We were already able to complete part In the area of corporate clients, we expanded our local of this in 2017.
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