Deutsche Pfandbriefbank AG

Earnings Release • Mar 8, 2002

News Details

Ad-hoc | 8 March 2002 15:10

HVB Real Estate Bank english

Operational business in 2001 bucks market trend Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– HVB Real Estate BankAG: Operational business in 2001 bucks market trend HVB Real Estate Bank AG’s operational business bucked the market trend last year. The new bank, which arose in September 2001 from the merger of Bayerische Handelsbank, Nürnberger Hypothekenbank and Süddeutsche Bodencreditbank posted an operating profit of EUR 269,1 million before risk provision (2000: EUR 292,1m). Net interest income contributed EUR 375,4 million (2000: EUR 402,1m) to this figure. Risk provision rose to EUR 157,2 million (2000: EUR 82,0 m). This is due to the distinct weakness of domestic property markets and the conservative assessment of the portfolio. Operating profit after risk provision amounted to EUR 112,0 million (2000: EUR 210,1m). Net profit for the year totaled EUR 83,1 million (2000: EUR 156,3m). The Board of Managing Directors and the Supervisory Board of HVB Real Estate Bank Aktiengesellschaft will propose the following at the Annual General Meeting of Shareholders: * Payout of a dividend of EUR 1.00 per no-par share * Special payout of EUR 0.60 per no-par share on dividend-carrying capital. HVB Real Estate Bank AG will publish its annual report on April 4, 2002. end of ad-hoc-announcement (c)DGAP 08.03.2002 ——————————————————————————– WKN: 801900; ISIN: DE0008019001; Index: Listed: Amtlicher Handel in München; Freiverkehr in Berlin, Düsseldorf, Frankfurt, Hamburg und Stuttgart 081510 Mär 02