EANS-News: DVB Group: Sound operating performance during the first nine months of 2011 - strong increase in net interest income

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9-month report

Frankfurt am Main (euro adhoc) - DVB continued to enjoy success in
its core international transport finance business during the third
quarter of 2011, leading to a solid 21.2% increase in net interest
income after allowance for credit losses, to EUR162.1 million. At
EUR106.4 million, consolidated net income before taxes decreased by
10.7% year-on-year, primarily due to volatile net income from
financial instruments in accordance with IAS 39.

Wolfgang F. Driese, CEO and Chairman of the Board of Managing
Directors, assessed DVB´s consolidated nine-month results:

"DVB continues to hold its successful course, in an environment that
is characterised by political uncertainty. Compared to the turmoil
caused by the sovereign debt crisis, with new unsettling facts
surfacing almost every day, the impact of volatility on the transport
markets and of the increasing divergence between transport asset
supply and demand almost take a step back - even though these two
factors are more important for our business. Additional uncertainty
is triggered by the changes affecting the banking sector. In these
extreme adversities, DVB's business model proves its strength. We
therefore continue to anticipate fully satisfactory results for the
year 2011 as a whole."

Total income (comprising net interest income after allowance for
credit losses, net fee and commission income, net income from
financial instruments in accordance with IAS 39, results from
investments in companies accounted for using the equity method, and
net other operating income/expenses) declined by 1.8%, from EUR241.6
million to EUR237.3 million.

Net interest income rose by 23.7% year-on-year, to EUR181.3 million,
and net interest income after allowance for credit losses was up
21.2%, from EUR133.8 million to EUR162.1 million. New Transport
Finance business totalled 109 transactions as at 30 September 2011,
with an aggregate volume of EUR3.3 billion (9m 2010: 93 transactions
with a volume of EUR3.0 billion). The average interest margin on new
Transport Finance business was down during the period under review,
from 322 to 297 basis points. Factors contributing to this decline
included the fact that higher funding costs, which have soared for
all banks, can only be passed on to clients through new business with
a certain time lag. In addition, the Bank consciously targeted new
exposures that have the potential to weather even a more drawn-out
period of market weakness. Net allowance for credit losses amounted
to EUR19.2 million during the period under review (9m 2010: EUR12.8
million). New allowance recognised for credit losses totalled EUR47.7
million; a net EUR27.1 million was released.

DVB maintained net fee and commission income, which primarily
includes fees and commissions from new Transport Finance business,
and asset management and advisory fees, on high levels at EUR76.1
million, virtually unchanged year-on-year (-3.2%).

Net income from financial instruments in accordance with IAS 39 (net
trading income, the hedge result, the result from the application of
the fair value option, the result from derivatives entered into
without intention to trade, and net income from investment
securities) changed from EUR2.8 million to EUR-10.1 million. The net
figure reflects the level of volatility on foreign exchange and
interest rate markets.

General administrative expenses were up 6.9%, to EUR130.9 million.
Staff expenses increased slightly, by 2.6%, to EUR71.5 million. The
12.5% increase in non-staff expenses, from EUR52.8 million to EUR59.4
million, primarily reflected higher contributions and fees (such as
the bank levy and the contributions to the deposit-protection scheme)
plus higher expenses in banking operations (IT costs, rents, etc.).

DVB's total assets rose by 7.3%, from EUR19.3 billion to EUR20.7
billion. DVB's nominal volume of customer lending (the aggregate of
loans and advances to customers, guarantees and indemnities,
irrevocable loan commitments, and derivatives) rose by 2.1% in euro
terms, to EUR19.6 billion; in US dollar terms, customer lending
increased by 2.7%, to US$26.3 billion.

Return on equity before taxes was 13.8% - down 3.1 percentage points
(9m 2010: 16.9%). The cost/income ratio rose by 2.9 percentage
points, to 51.1%.

Calculated in accordance with Basel II, DVB's tier 1 ratio rose to
19.3% (31 December 2010: 18.9%); reflecting maturing subordinated
funds, the total capital ratio amounted to 21.8% (31 December 2010:
22.4%).

You can find a video commentary by Wolfgang F. Driese, CEO and
Chairman of the Board of Managing Directors of DVB Bank SE, as well
as the detailed Interim Management Statement during the second half
of 2011, on our website: www.dvbbank.com.

Contact for this press release:
Elisabeth Winter, Manager Investor Relations: +49 69 97 50-43 29,
elisabeth.winter@dvbbank.com

Contact for general enquiries:

Borislav Bjelicic Senior Vice President DVB Bank SE | Platz der
Republik 6 | 60325 Frankfurt | Germany | Tel +49 69 9750 4390 |
Mobile +49 172 6917342 | Fax +49 69 9750 4825 |
Borislav.Bjelicic@dvbbank.com | www.dvbbank.com

Note to Editors: DVB Bank SE, headquartered in Frankfurt/Main,
Germany, is the leading specialist in the international transport
finance business. The Bank offers integrated financing solutions and
advisory services in respect of Shipping Finance, Aviation Finance,
and Land Transport Finance. The Bank operates out of offices in
Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen, Oslo,
Piraeus, Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE
is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).

Further inquiry note:
Elisabeth Winter
Investor Relations
Tel: +49 (0)69-97504-329
E-Mail: elisabeth.winter@dvbbank.com

end of announcement euro adhoc
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company: DVB Bank SE
Platz der Republik 6
D-60325 Frankfurt am Main
phone: +49 (0)69 9750-40
FAX: +49 (0)69 9750-4444
mail: info@dvbbank.com
WWW: http://www.dvbbank.com
sector: Banking
ISIN: DE0008045501
indexes:
stockmarkets: free trade: Stuttgart, Düsseldorf, regulated dealing/general
standard: Frankfurt
language: English