Successful 2018 financial year: KfW IPEX-Bank presents its Annual Report

Frankfurt am Main (ots) -

- New commitments of EUR 17.7 billion/"Power, Renewables and
Water" contributes EUR 3.4 billion
- Contribution to consolidated earnings of KfW: EUR 537 million,
supporting KfW's long-term promotional capacity
- KfW IPEX-Bank supports German and European exporters with their
internationalisation strategies

KfW IPEX-Bank, which is responsible for the Export and Project
Finance business sector within KfW Group, presented its annual
financial statements for 2018 today, reporting an overall volume of
lending of around EUR 66.6 billion at year-end. "In 2018, we once
again provided successful support to German and European companies on
the global markets - thanks to our considerable structuring and
industry expertise, we were able to hold our own on the market
despite regional economic and political challenges, as well as
intense competition, and granted new commitments totalling EUR 17.7
billion," explained Klaus R. Michalak, CEO of KfW IPEX-Bank.

Volume of lending and commitments

The main driving forces behind the increase in the volume of
lending from EUR 61.5 billion to EUR 66.6 billion included the
above-average volume of export and project financing commitments in
2018, as well as the change in the euro-dollar exchange rate as
against the end of the previous year, as around 45 percent of the
loans granted by KfW IPEX-Bank are denominated in US dollars.

In its original lending business, KfW IPEX-Bank provided the
German and European export industry with new loans amounting to EUR
17.0 billion (2017: EUR 12.1 billion), and there were also new
commitments of around EUR 0.7 billion (2017: EUR 1.7 billion) for
bank refinancing under the CIRR ship and ERP export financing
programmes. "The contribution made by our 'Power, Renewables and
Water' sector was particularly noteworthy, recording new business of
EUR 3.4 billion - a large portion of which was attributable to
onshore and offshore wind farms. The results underscore our
commitment to environmental and climate protection", added Michalak.

Contribution of the Export and Project Finance business sector to
consolidated earnings

With a contribution to KfW's consolidated earnings of EUR 537
million (previous year: EUR 469 million), KfW IPEX-Bank once again
played a part in securing KfW's long-term promotional capacity in the
financial year under review, thereby affirming its role as one of KfW
Group's main sources of earnings.

Good valuations provided the basis for the positive result. While
net interest income and net commission income were down year-on-year
and administrative expense rose slightly - the operating result of
EUR 483 million before valuations was consequently down on the
previous year's result (EUR 581 million) - valuations led to a very
good result for the business sector overall. All recognisable risks
continued to be assessed conservatively, however the net positive
valuation was EUR 89 million (previous year: EUR -92 million),
meaning that the overall result from ordinary business activities
rose to EUR 572 million (previous year: EUR 489 million). KfW
IPEX-Bank GmbH, as a legally independent and separate reporting
entity, recorded a satisfactory pre-tax annual profit of EUR 238
million.

Outlook

KfW IPEX-Bank will be aiming to maintain its strong position as a
specialist bank and provider of solutions to the German and European
export industry in the future, too. In order to achieve this, it will
continue to add value to financing projects for its business partners
through its industry, structuring and regional expertise and work
closely and trustfully with other banking partners. "Despite global
challenges, KfW IPEX-Bank is confident as it looks ahead to the new
2019 financial year. We are planning new commitments in the amount of
EUR 16.6 billion," was how Klaus R. Michalak summarised his
expectations for the new reporting year.

For the first time, you can find the entire 2018 Annual Report of
KfW IPEX-Bank, including the 2018 Corporate Governance Report, online
at: https://www.kfw-ipex-bank.de/About-us/Annual-Report/

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: axel.breitbach@kfw.de
Tel. 069 7431-2961, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de

Original-Content von: KfW IPEX-Bank, übermittelt durch news aktuell