“Our commercial insight into market developments, acquisition-, investment-, and working‑capital financings enables us to risk‑consciously shape our client relationships. This approach strengthens our franchise in the German and European markets and creates a robust platform for long‑term success.”

Jens Thiele, Chief Investment Officer & Head of Corporates & Project Finance

Corporates

Markets

■ German mid-cap Corporates with tailored financing requirements ■ Scalable European markets with mature business models where our structuring capabilities can create a value-add

Clients

■ Mid-tier and family-owned businesses as well as mid-tier leasing/factoring specialists ■ European leveraged finance: €30mn+ EBITDA, XOver ■ Franchise clients include direct lending business, complemented by Fund Finance

Expertise

■ Strong capabilities in specialty and structured lending: Senior lending (term loans and RCF) for German Corporates and Super Senior Financings for International Corporates ■ Expertise in deposits and payments services as well as in Import Trade Finance services ■ Proficiency in off-balance financing structures, i.e. guarantees and sureties

Portfolio split

1) Corporates Lending clients only

Financials1

in € mn

2025
2024
Total Income
231
239
Loan loss provisions
-35
-20
OpEx & regulatory costs
-91
-101
Net income after taxes
90
94
NIM in bps
426
429
Risk costs in bps
-76
-44
CIR in %
38
41
RoE2 in %
11.6
12.0
Gross new business in bn €
1.6
2.1

1) For further details on P&L please refer to the Segment Reporting 2) RoE after taxes based on a 15%-ratio of invested CET1 capital as reported

Rating

EAD distribution in %

YE 2025

YE 2024

Corporates Lending

Structured Portfolio Finance

AAA - BBB (IG)

0.7
0.4
0.4
0.6

BB+ - BB- (6-9)

0.2
0.3
0.9
0.4

B+ - B (10-12)

0.7
0.2
0.8
0.3

B- - C (13-15)

0.3
0.6
0.5
0.7

Default

0.2
0.4
0.4
0.9
See portfolio details