Results of the EU-wide stress test for DZ BANK as of end of September 2011

DZ BANK notes the announcements made today by the European Banking Authority and competent National Supervisor regarding the capital exercise, which demonstrate the following result for DZ BANK.

The capital exercise proposed by the EBA and agreed by the Council on 26 October 2011 requires banks to strengthen their capital positions by building up a temporary capital buffer against sovereign debt exposures to reflect current market prices. In addition, it requires them to establish a buffer such that the Core Tier 1 capital ratio reaches a level of 9% by the end of June 2012. The amount of any final capital shortfall identified is based on September 2011 figures. The amount of the sovereign capital buffer will not be revised.

71 banks across Europe, including DZ BANK, were subject to the capital exercise whose objective is to create an exceptional and temporary capital buffer to address current market concerns over sovereign risk and other residual credit risk related to the current difficult market environment. This buffer would explicitly not be designed to cover losses in sovereigns but to provide a reassurance to markets about banks’ ability to withstand a range of shocks and still maintain adequate capital.

Following completion of the capital exercise conducted by the European Banking Authority, in close cooperation with the competent national authority the EBA determined a Core Tier 1 ratio of 8.64% for DZ BANK. DZ BANK has therefore a capital shortfall of € 353 million which must be addressed by end June 2012.

DZ BANK will ensure that by the end of June 2012 the bank will adhere to the 9% core tier ratio and, to this end, submit a plan to the national supervisory authority. In this plan DZ BANK will set out the proposed mix of actions to meet the required 9% target thereby bringing the shortfall to zero by June 2012. The plan – to be submitted by January 20, 2012 – will be discussed with the national competent authorities, in consultation with the relevant college of supervisors and the EBA.

The capital to be raised and measures to be taken by the bank are designed to restore confidence in market participants, to facilitate DZ BANKs’ access to the funding markets as well as to put them in the condition to continue providing financial support to the real economy.

The methodology underlying the capital exercise was outlined by the EBA prior to its announcement to ensure consistency across all banks in the EU banking system involved in the exercise.

The detailed results of the stress test are published under: -> Investor Relations -> IR Releases



Martin Roth, Head of Communications & Marketing
Tel.: +49 (0)69 7447 42750