DGAP-Adhoc

Deutsche Pfandbriefbank AG: Deutsche Pfandbriefbank AG further provisions in the amount of EUR 79 million for Heta Asset Resolution AG's debt securities, guaranteed by the Austrian federal state of Carinthia

Deutsche Pfandbriefbank AG / Key word(s): Quarter Results

15.04.2015 22:04

Dissemination of an Ad-hoc-update according to § 15 WpHG, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

With ad-hoc-announcement dated March 6th, 2015, Deutsche Pfandbriefbank AG
(pbb) already informed on provisions in the amount of EUR 120 million,
effective for the financial year 2014, made for its receivables against the
wind-down entity Heta Asset Resolution AG (Heta), which are deficiency
guaranteed by the Austrian federal state of Carinthia.

Pursuant to a Management Board resolution taken on 15th April 2015, pbb has
now, as a precaution, made further provisions of EUR 79 million in the Q1
2015 results for its mentioned receivables against Heta. Together with the
provisions of EUR 120 million made in the 2014 full year results, the
provisioning was therefore increased to a total of 50 percent of the
notional value of the receivables against Heta. This increase was made
following recommendations made by the Financial Regulators.

Link to the ad-hoc-announcement dated March 6th, 2015:

http://www.dgap.de/dgap/News/adhoc/deutsche-pfandbriefbank-deutsche-pfandb
riefbank-provisions-for-heta-debt-securities-covered-letter-indemnity-issu
ed-the-austrian-federal-state-carinthia-the-financial-statements-taking-ch
arge-against-income-eur-million/?companyID=1079&newsID=849237


15.04.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------

Language: English
Company: Deutsche Pfandbriefbank AG
Freisinger Strasse 5
85716 Unterschleissheim
Germany
Phone: [phone]
Fax: [phone] 201
E-mail: [e-mail]
Internet: http://www.pfandbriefbank.com
ISIN: DE0008053331, Eine vollständige Übersicht der Eigenemissionen
der Deutsche, Pfandbriefbank AG (ISIN, Börse, Segment) finden
Sie unter,
http://www.pfandbriefbank.com/investor-relations/pflichtvero
effentlichungen/ad-hoc-mitteilungen.html
WKN: 805333, Eine vollständige Übersicht der Eigenemissionen der Deutsche, Pfandbriefbank AG (ISIN, Börse, Segment) finden Sie unter, http://www.pfandbriefbank.com/investor-relations/pflichtveroeffentlichungen/ad-hoc-mitteilungen.html
Listed: Regulated Market in Frankfurt (Corporate Bonds), Munich,
Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover; London, Mailand, Paris, Luxemburg, SIX

End of Announcement DGAP News-Service

---------------------------------------------------------------------------