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16.04.2018 – 10:50


KfW IPEX-Bank presents its financial statements for the 2017 financial year

Main (ots)

   - KfW IPEX-Bank remains a reliable and strong partner to the 
     German and European export economies with new commitments of EUR
     13.8 billion in 2017
   - It contributed EUR 469 million to KfW's consolidated earnings, 
     thereby helping to secure long-term promotional capacity
   - Anniversary - since its spin-off ten years ago, the bank has 
     supported the export economy in more than 3,000 projects with 
     loans totalling EUR 143 billion

KfW IPEX-Bank, a wholly-owned subsidiary of KfW which is responsible for the Group's Export and Project Finance business sector, today presented its 2017 financial statements, reporting an overall volume of lending of around EUR 61.9 billion at year-end. "Thanks to its high level of structuring expertise and industry experience, KfW IPEX-Bank once again performed well in 2017 amidst fierce competition, and granted new commitments of EUR 13.8 billion. We therefore substantially underlined our business model as a successful specialist financier for the German and European export economies, which we assist in their international ventures by providing appropriate, individually structured financing", explained Klaus R. Michalak, CEO of KfW IPEX-Bank.

Volume of lending and commitments

Although the volume of lending as at 31 December 2017 decreased to EUR 61.9 billion (2016 year-end: EUR 69.4 billion), this was largely due to the devaluation of the US dollar against the euro, since around 45 per cent of the bank's loans are denominated in US dollars. In its original lending business, the specialist bank provided its international customers with new loans totalling EUR 12.1 billion (2016: EUR 14.4 billion), and there were also new commitments of around EUR 1.7 billion (2016: EUR 1.7 billion) for bank refinancing under the CIRR ship and ERP export financing programmes, which are based on agency business agreements performed on behalf of the Federal Republic.

Contribution of the Export and Project Finance business sector to consolidated earnings

At EUR 581 million, the operating result of the Export and Project Finance business sector, for which KfW IPEX-Bank is responsible, was lower than in the previous year (EUR 645 million). It mainly comprised net interest income and net commission income, less administrative expense, which rose slightly in the reporting year. At the same time, total risk provisions fell, although all recognisable risks continued to be assessed conservatively. With a contribution of EUR 469 million (2016: EUR 484 million) to consolidated earnings, the business sector once again played an active role in securing the long-term promotional capacity of KfW and reaffirmed KfW IPEX-Bank's status as one of KfW Group's main sources of earnings. KfW IPEX-Bank GmbH, as a legally independent and separate reporting entity, reported a solid pre-tax profit from operating activities of EUR 113 million.

Anniversary and outlook

KfW IPEX-Bank has been operating successfully in the market for ten years. On 1 January 2008, the bank was spun off from KfW as a legally independent limited company with 441 employees. "By providing tailored financing for over 3,000 projects and granting loan commitments totalling EUR 143 billion, our bank has helped German and European customers to compete in the global marketplace and thus made a contribution to securing economic strength, employment and growth in Germany and Europe", explained Michalak. "Moreover, KfW IPEX-Bank aims to remain a dependable and internationally successful partner to the German and European export economies in the future."

To achieve this goal, the bank intends to maintain its sales and marketing activities at a high level across all sector departments and regions, towards both its customers and its partners in the financial sector. "We will continue to build on the trusting working relationship with our financing partners and play an active role in structuring tailor-made syndicate financing", stated Michalak. On this basis, KfW IPEX-Bank's target for new commitments in the 2018 financial year is EUR 16.3 billion.

*****The full press release including an overview table of the key financial figures is available in our newsroom at***

KfW IPEX-Bank's Annual Report 2017, including the 2017 Corporate Governance Report that KfW IPEX-Bank has voluntarily undertaken to publish as part of KfW Group, is available to download at:


KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail:
Phone: +49 (0)69 7431 2961, Fax: 069 7431-9409, E-Mail:,

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