Hans Lötzer, Head of Project Finance

Luke Isherwood, Head of Project Finance Special Situations

"HCOB has deep expertise and a strong track record in infrastructure and renewable energy finance. We are well positioned to leverage the opportunities that will arise in these more important than ever sectors and offer our clients added value with tailor-made financing solutions."

Project Finance

Markets

■ Focus on infrastructure trends, such as data centers and fiber networks as well as conventional infrastructure across European markets ■ Emerging forms of renewable energy technologies, such as waste-to-energy, district heating and battery storage

Clients

■ Broad client spectrum: Infra Funds/PE, developers, manufacturers, utilities & independent power producers as well as contractors ■ Long-standing relationships (61% ≥ 10 years)

Expertise

■ Strategic shift from longer-term funded business to more structured, well-diversified infrastructure projects ■ Deep knowledge across a broad range of structured financing solutions ■ Self-originated transactions as well as participations

Portfolio split

1) Incl. Social Infrastructure and Storage 2) Incl. Waste-to-Energy

Financials1

in € mn

2025
2024
Total Income
125
107
Loan loss provisions
-7
-1
OpEx & regulatory costs
-54
-47
Net income after taxes
44
47
NIM in bps
282
268
Risk costs
-20
-2
CIR in %
42
43
RoE2 in %
12.2
12.4
Gross new business in bn €
1.6
1.2

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

AAA - BBB- (IG)

0.2
0.5

BB+ - BB- (6-9)

0.4
0.8

B+ - B (10-12)

0.9
0.7

B- - C (13-15)

0.1
0.7

Default

0.4
0.2
See portfolio details