DGAP-Adhoc: Bayerische Landesbank

 | Source: EQS Group AG EQS Group AG 

Bayerische Landesbank  / Key word(s): Miscellaneous/Weiteres Schlagwort

12.01.2012 08:30

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad-hoc-Announcement
According to § 15 Abs. 1 WpHG

12 January 2012

BayernLB anticipates net loss for 2011 under German accounting standards
(HGB) due to Hungarian government actions

Munich - Due to the need to write down the book value of its holding in its
Hungarian subsidiary MKB Bank, BayernLB currently anticipates that it will
report a net loss for 2011 in its separate accounts under German accounting
standards (HGB).

BayernLB is compelled to take this measure because actions by the Hungarian
government, to include the extremely high bank levy and recently passed
Foreign Currency Conversion Act, have substantially impaired MKB Bank's
earnings prospects.

The writedown on the book value of its holding in MKB Bank will have a
significant impact on BayernLB's net income under German accounting
standards and thus overshadows the positive performance of its operating
business with customers.

As a result of the expected loss in the HGB financial statements, BayernLB
does not expect to service its equity capital instruments (profit
participation certificates, silent partner contributions and BayernLB
Capital Trust 1 securities) for financial year 2011.

As things currently stand, it will not be possible for the profit
participation certificates and silent partner contributions to avoid
sharing the loss. A definitive statement on the amount of the loss
participation is not expected to be possible until the financial accounts
have been approved at the end of April 2012.


12.01.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Bayerische Landesbank
              Brienner Straße 18
              80333 München
              Germany
Phone:        + 49 (0) 89 21 71 -2 5852
Fax:          + 49 (0) 89 21 71 -2 1332
E-mail:       franziska.roederstein@bayernlb.de
Internet:     www.bayernlb.de
ISIN:         DE0008021221
WKN:          802122
Listed:       Regulierter Markt in München
 
End of Announcement                             DGAP News-Service
 
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