“Having a clear view on the risk-return profile of our client relationships and transactions is key – and this understanding is also at the core of our prudent international expansion, which supports our diversification strategy.”

Jens Thiele, Head of Corporates & Project Finance

Corporates

■ Diversifying corporate strategies by German and International Corporates ■ Focus on lending clients in Northern German region with service & expertise approach ■ Large portion of clients in Germany are family-owned companies with typically long-standing HCOB relationships ■ Diversified international approach with wide range of credit products, countries & sectors ■ Highly skilled, lean and transaction-focused team with broad network to identify and capture market opportunities quickly in International Corporates ■ Active lending partner to enablers of the energy transition, i.e. European companies that produce or operate technical solutions which enable end-users to reduce their carbon footprint

Financials1

in € mn

H1 2024
H1 2023
Total Income
122
91
Loan loss provisions
9
9
OpEx & regulatory costs
-56
-41
Net income after taxes
60
47
NIM in bps
390
339
Risk costs (loan loss prov.– %)2
0.30
0.37
CIR in %
45
40
RoE3 in %
16.8
16.4
Gross new business in bn €
1.3
0.9

1) For further details on P&L please refer to the Segment Reporting | 2) Risk Costs (LLP/ b/s) | 3) RoE after taxes based on a 13%-ratio of invested CET1 capital as reported

Rating

distribution in %


H1 2024

YE 2023

Germany

International

Invest-ment Grade

0.9
0.1
0.0
0.3

6-9

0.4
0.8
0.4
0.7

10-15

0.5
0.8
0.2
0.5

Default

0.2
0.3
0.4
0.5
See portfolio details