DenizBank AG with excellent operating result for 2023

Issuer: DENIZBANK AG / Key word(s): Annual Results
DenizBank AG with excellent operating result for 2023

29.03.2024 / 09:37 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  * DenizBank AG recorded a strong operating result for 2023 of EUR 154.2
    million. This represents an increase of more than 61% compared to the
    previous year.

* Net interest income rose by more than 54% to EUR 193.7m.

  * The cost/income ratio was reduced by almost a third year-on-year to
    25.31% compared to the year before (36,29%), confirming the bank's
    improved cost structure and increased efficiency.

  * The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared
    to the previous year (4,14%)

DenizBank AG was founded in 1996. As a universal bank, it is subject to the
Austrian banking law and is a member of the statutory deposit guarantee
scheme for the deposit insurance of Einlagensicherung AUSTRIA GmbH.

In addition to its digital services, DenizBank AG operates 11 branches in
Austria and 3 branches in Germany - it is part of the DenizBank Financial
Services Group, which since 2019 has been owned by the Emirates NBD Group.

The Emirates NBD Group's network comprises locations in 13 countries. The
Group is among the top 30 in the Forbes list of "World's Best Regarded
Companies", securing a leading position among global brands.

Strong financial year
Denizbank AG closed the 2023 financial year successfully. Despite the
ongoing challenges in the global economy, the bank achieved impressive
financial results.

Net interest income increased by EUR 67.97 million or more than 54% to EUR
193.67 million compared to the previous year.

DenizBank AG's operating result increased to EUR 154.24 million, more than
61% compared to 2022 (previous year: EUR 95.58 million).

Total assets at the end of 2023 amounted to EUR 5.64 billion.

The cost-income ratio was reduced by almost a third to 25.31% compared to
the previous year (36.29%), which demonstrates the bank's improved cost
structure and increased efficiency.

The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared to
the previous year (4,14%) further confirming DenizBank AG's strong
profitability.

Specialist for foreign trade financing and commodity trade finance
DenizBank AG, as a specialist in foreign trade financing, business
transactions and initiations in the context of dynamically growing bilateral
trade and investment volumes, is an important partner for companies and
customers with business relationships.

DenizBank AG also provides financing for enterprises' imports of investment
goods with insurance from state supported export credit agencies (ECA
Credits). DenizBank AG also provides letters of credit for various types of
trade financing and has built up a strong and knowledgeable staff to
successfully meet the high demand.

Given the dynamic nature of commodity markets, DenizBank AG also places
emphasis on providing tailored financial solutions to commodity traders. By
prioritizing commodity trade finance, the bank aims to strengthen its
position as a reliable partner in this sector.

Strategic priorities for DenizBank AG
DenizBank AG's commitment to digitalization is unwavering. The bank's
upcoming digital strategy, including the launch of new digital products this
year, underscores its dedication to innovation. DenizBank AG aims to enhance
customer experiences and stay ahead in the rapidly evolving financial
landscape.

By enhancing its private banking offerings, the bank acknowledges the
importance of personalized wealth management services for high-net-worth
individuals. It provides tailored investment strategies and comprehensive
advisory services.

The customers of DenizBank AG benefit from the Group-internal synergies
within the DenizBank Financial Services Group and ENBD. DenizBank AG's
strategic focus on trade finance, commodity trade finance, private banking
and digitalization reflects its commitment to delivering value to clients,
fostering growth, and remaining at the forefront of the banking industry.

All figures and data: Austrian UGB
Link to the annual report:
https://www.denizbank.de/en/about-us/annual-reports


Legal notice:
This media information is a marketing communication prepared for non-binding
information purposes. It is not a financial analysis and does not constitute
investment advice or an offer or recommendation or an invitation to make an
offer to buy or sell financial instruments, investments or other banking
services. This information has been carefully prepared by DenizBank AG to
the best of its knowledge and belief. However, it has not been checked and
verified by an independent third party; therefore, no guarantee is given
with regard to the accuracy, completeness or correctness of the information
and opinions contained herein. Errors and misprints excepted.



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Image title: DenizBank AG_Firmenzentrale (c) Denizbank
DenizBank AG_Headquarter (c) DenizBank AG


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   Language:       English
   Company:        DENIZBANK AG
                   Thomas-Klestil-Platz 1
                   Wien 1030
                   Austria
   Internet:       denizbank.at
   EQS News ID:    1870077

End of News EQS News Service
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