Obligation Norddeutsche Landesbank -Girozentrale- 3% ( DE000DHY5041 ) en EUR

Société émettrice Norddeutsche Landesbank -Girozentrale-
Prix sur le marché 100 %  ▲ 
Pays  Allemagne
Code ISIN  DE000DHY5041 ( en EUR )
Coupon 3% par an ( paiement annuel )
Echéance 30/07/2026 - Obligation échue



Prospectus brochure de l'obligation Norddeutsche Landesbank -Girozentrale- DE000DHY5041 en EUR 3%, échue


Montant Minimal 100 000 EUR
Montant de l'émission 5 300 000 EUR
Description détaillée Norddeutsche Landesbank ? Girozentrale (NordLB) est une banque publique allemande spécialisée dans le financement des entreprises et des projets d'infrastructure, principalement dans le nord de l'Allemagne.

L'Obligation émise par Norddeutsche Landesbank -Girozentrale- ( Allemagne ) , en EUR, avec le code ISIN DE000DHY5041, paye un coupon de 3% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 30/07/2026







Debt Issuance Programme Prospectus
Dated 17 October 2018

This document constitutes two base prospectuses for the purposes of article 5.4 of Directive 2003/71/EC of the European
Parliament and of the Council of 4 November 2003, as amended by Directive 2010/73/EU of the European Parliament and of
the Council of 24 November 2010, as amended (the "Prospectus Directive"): (i) the base prospectus of Deutsche
Hypothekenbank (Actien-Gesellschaft) in respect of non-equity securities within the meaning of Art. 22 paragraph 6 (4) of the
Commission Regulation (EC) No. 809/2004 of 29 April 2004, as amended (the "Commission Regulation") and (ii) the base
prospectus of Deutsche Hypothekenbank (Actien-Gesellschaft) in respect of Pfandbriefe as non-equity securities within the
meaning of Art. 22 paragraph 6 (3) of the Commission Regulation (together, the "Debt Issuance Programme Prospectus" or
the "Prospectus").




Deutsche Hypothekenbank (Actien-Gesellschaft)
Hanover, Federal Republic of Germany
EUR 15,000,000,000
Debt Issuance Programme
(the "Programme")

Application has been made to the Hanover Stock Exchange and the Luxembourg Stock Exchange for Notes issued under the
Programme (the "Notes" which expression includes Pfandbriefe unless otherwise indicated) to be admitted to trading on such
stock exchanges' regulated markets and to be listed on the Official List of the Luxembourg Stock Exchange. The Luxembourg
Stock Exchange's regulated market is a regulated market for the purposes of the Markets in Financial Instruments Directive
2014/65/EU (as amended, "MiFID II"). Notes issued under the Programme may also be listed on further stock exchanges or
may not be listed at all.

The Issuer has requested the Commission de Surveillance du Secteur Financier (the "CSSF") to provide the competent
authorities in the Federal Republic of Germany, the United Kingdom of Great Britain and Northern Ireland, the Republic of
Ireland and the Republic of Austria with a certificate of approval attesting that the Prospectus has been drawn up in accordance
with the Loi relative aux prospectus pour valeurs mobilières, as amended (the "Luxembourg Law") which transforms the
Prospectus Directive into Luxembourg law ("Notification"). The Issuer may request the CSSF to provide competent authorities
in additional host Member States within the European Economic Area with a Notification. By approving a prospectus, the CSSF
shall give no undertaking as to the economic and financial soundness of the operation or the quality or solvency of the issuer.

Arranger
Commerzbank

Dealers
Bayerische Landesbank
Commerzbank
Crédit Agricole CIB
DekaBank
Deutsche Bank
Deutsche Hypo
DZ BANK AG
NORD/LB
UniCredit Bank
This Prospectus has been approved by the CSSF and will be published in electronic form on the website of the Luxembourg
Stock Exchange (www.bourse.lu) and on the website of the Issuer (www.deutsche-hypo.de), respectively. This Prospectus
succeeds the Prospectus dated 17 October 2017 and is valid for a period of 12 months after its approval.



2

Responsibility Statement
Deutsche Hypothekenbank (Actien-Gesellschaft), ("Deutsche Hypothekenbank", "Deutsche Hypo"
or the "Issuer" or the "Bank") with its registered office in Hanover is solely responsible for the
information given in this Prospectus and for the information which will be contained in the Final Terms
(as defined herein). The Issuer hereby declares that, having taken all reasonable care to ensure that
such is the case, the information contained in this Prospectus is, to the best knowledge, in accordance
with the facts and contains no omission likely to affect its import.

Notice
This Prospectus should be read and understood in conjunction with any supplement thereto and with
any document incorporated herein by reference. Full information on the Issuer and any tranche of
Notes is only available on the basis of the combination of the Prospectus and the relevant final terms
(the "Final Terms").
The Issuer has confirmed to the dealers set forth on the cover page and any additional dealer
appointed from time to time under the Programme (each a "Dealer" and together the "Dealers"), that
the Prospectus contains all information which is material in the context of the Programme and the
issue and offering of Notes thereunder, that the information contained in the Prospectus is accurate in
all material respects and is not misleading, that the opinions and intentions expressed therein are
honestly held, that there are no other facts the omission of which would make the Prospectus as a
whole or any of such information or the expression of any such opinions or intentions misleading and
that the Issuer has made all reasonable enquiries to ascertain all facts material for the purposes
aforesaid.
No person has been authorised to give any information which is not contained in, or not consistent
with, the Prospectus or any other information supplied in connection with the Programme and, if given
or made, such information must not be relied upon as having been authorised by or on behalf of the
Issuer or any of the Dealers.
The Prospectus is valid for 12 months following after its approval and this Prospectus and any
supplement hereto as well as any Final Terms reflect the status as of their respective dates of
publication. The delivery of this Prospectus or any Final Terms and the offering, sale or delivery of any
Notes may not be taken as an implication that the information contained in such documents is
accurate and complete subsequent to their respective dates of issue or that there has been no
adverse change in the financial condition of the Issuer since such date or that any other information
supplied in connection with the Programme is accurate at any time subsequent to the date on which it
is supplied or, if different, the date indicated in the document containing the same.
The Issuer has undertaken with the Dealers to supplement the Prospectus or publish a new
Prospectus if and when the information herein should become materially inaccurate or incomplete and
has further agreed with the Dealers to furnish a supplement to the Prospectus in the case of every
significant new factor, material mistake or inaccuracy to the information included in this Prospectus
which is capable of affecting the assessment of the Notes and upon approval by the CSSF having
been given in respect of Notes issued on the basis of this Prospectus.
To the extent permitted by the laws of any relevant jurisdiction, neither the Arranger nor any Dealer
nor any person mentioned in this Prospectus, excluding the Issuer, is responsible for the information
contained in this Prospectus or any supplement thereof, or any Final Terms or any document
incorporated herein by reference, and accordingly, and to the extent permitted by the laws of any
relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and
completeness of the information contained in any of these documents.
This Prospectus should be read and understood in conjunction with any supplement hereto and with
any other documents incorporated by reference and, in relation to any Series of Notes, together with
the relevant Final Terms as defined herein.
This Prospectus and any Final Terms do not constitute an offer or an invitation by or on behalf of the
Issuer or the Dealers to subscribe for or purchase any Notes.



3
The distribution of the Prospectus and any Final Terms and the offering, sale and delivery of the Notes
in certain jurisdictions may be restricted by law. Persons into whose possession the Prospectus or any
Final Terms comes are required to inform themselves about and to observe any such restrictions. For
description of the restrictions applicable in the United States of America, the United Kingdom, Japan
and the Republic of Italy, see "Subscription and Sale". In particular, the Notes have not been and will
not be registered under the United States Securities Act of 1933, as amended, and are subject to tax
law requirements of the United States of America; subject to certain exceptions, Notes may not be
offered, sold or delivered within the United States of America or to U.S. persons.
The language of the Prospectus is English. The German versions of the English language sets of
Terms and Conditions are shown in the Prospectus for additional information. As to form and content,
and all rights and obligations of the Holders and the Issuer under the Notes to be issued, German is
the controlling legally binding language if so specified in the relevant Final Terms.
The Final Terms in respect of any Notes may include a legend entitled "MiFID II Product Governance"
which will outline the target market assessment in respect of the Notes and which channels for
distribution of the Notes are appropriate. Any person subsequently offering, selling or recommending
the Notes (a "distributor") should take into consideration the target market assessment; however, a
distributor subject to MiFID II is responsible for undertaking its own target market assessment in
respect of the Notes (by either adopting or refining the target market assessment) and determining
appropriate distribution channels.
A determination will be made in relation to each issue about whether, for the purpose of the MiFID
Product Governance rules under EU Delegated Directive 2017/593 (the "MiFID Product Governance
Rules"), any Dealer subscribing for any Notes is a manufacturer in respect of such Notes, but
otherwise neither the Arranger nor the Dealers nor any of their respective affiliates will be a
manufacturer for the purpose of the MiFID Product Governance Rules.
If the Final Terms in respect of any Notes include a legend entitled "PROHIBITION OF SALES TO
EEA RETAIL INVESTORS", the Notes are not intended to be offered, sold or otherwise made
available to and should not be offered, sold or otherwise made available to any retail investor in the
European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one
(or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within
the meaning of Directive 2002/92/EC (as amended, the "Insurance Mediation Directive"), where that
customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or
(iii) not a qualified investor as defined in the Prospectus Directive. Consequently, no key information
document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for
offering or selling the Notes or otherwise making them available to retail investors in the EEA has
been prepared and, therefore, offering or selling the Notes or otherwise making them available to any
retail investor in the EEA may be unlawful under the PRIIPs Regulation.
Interest amounts payable under Floating Rate Notes are calculated by reference to (i) EURIBOR (Euro
Interbank Offered Rate) which is provided by the European Money Markets Institute (EMMI) or (ii)
LIBOR (London Interbank Offered Rate) which is provided by ICE Benchmark Administration Limited
(IBA). As at the date of this Prospectus, IBA appears whereas EMMI does not appear on the register
of administrators and benchmarks established and maintained by the European Securities and
Markets Authority (ESMA) pursuant to Article 36 of the Benchmarks Regulation (Regulation (EU)
2016/1011) ("BMR"). As far as the Issuer is aware, the transitional provisions in Article 51 of the BMR
apply, such that EMMI is not currently required to obtain authorisation or registration (or, if located
outside the European Union, recognition, endorsement or equivalence).
Each Dealer and/or each further financial intermediary subsequently reselling or finally placing
Notes issued under the Programme is entitled to use the Prospectus as set out under "Consent to
the Use of the Prospectus" below.
This Prospectus may only be used for the purpose for which it has been published.
Neither the Prospectus nor any Final Terms may be used for the purpose of an offer or
solicitation by anyone in any jurisdiction in which such offer or solicitation is not authorised or
to any person to whom it is unlawful to make such an offer or solicitation.
In connection with the issue of any Tranche of Notes under the Programme, the Dealer(s) who
is(are) specified in the relevant Final Terms as the Stabilising Manager(s) (or persons acting on



4
its(their) behalf) may overallot Notes or effect transactions with a view to supporting the price
of the Notes at a level higher than that which might otherwise prevail. However, stabilisation
may not necessarily occur. Any stabilisation action may begin at any time after the adequate
public disclosure of the final terms of the offer of the Notes is made and, if begun, may cease
at any time, but it must end no later than the earlier of 30 days after the Issue Date and 60 days
after the date of the allotment of the relevant Tranche of Notes. Any stabilisation action or over-
allotment must be conducted by the relevant Stabilising Manager(s) (or person(s) acting on
behalf of any Stabilising Manager(s)) in accordance with all applicable laws and rules.
Any websites included in the Prospectus, except for the website www.bourse.lu in the context of the
documents incorporated by reference, are for information purposes only and do not form part of the
Prospectus.

Forward-looking Statements
This Prospectus contains certain forward-looking statements. A forward-looking statement is a
statement that does not relate to historical facts and events. They are based on analyses or forecasts
of future results and estimates of amounts not yet determinable or foreseeable. These forward-looking
statements are identified by the use of terms and phrases such as "anticipate", "believe", "could",
"estimate", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms and phrases,
including references and assumptions. This applies, in particular, to statements in this Prospectus
containing information on future earning capacity, plans and expectations regarding the Issuer's
business and management, its growth and profitability, and general economic and regulatory
conditions and other factors that affect it.
Forward-looking statements in this Prospectus are based on current estimates and assumptions that
the Issuer makes to the best of its present knowledge. These forward-looking statements are subject
to risks, uncertainties and other factors which could cause actual results, including the Issuer's
financial condition and income position, to differ materially from and be worse than results that have
expressly or implicitly been assumed or described in these forward-looking statements. The Issuer's
business is also subject to a number of risks and uncertainties that could cause a forward-looking
statement, estimate or prediction in this Prospectus to become inaccurate. Accordingly, investors are
strongly advised to read the following sections of this Prospectus: "Risk Factors" and "Deutsche
Hypothekenbank (Actien-Gesellschaft)". These sections include more detailed descriptions of factors
that might have an impact on the Issuer's business and the markets in which it operates.
In light of these risks, uncertainties and assumptions, future events described in this Prospectus may
not occur. In addition, neither the Issuer nor the Dealers assume any obligation, except as required by
law, to update any forward-looking statement or to conform these forward-looking statements to actual
events or developments.



5
Table of Contents

Page
Summary
............................................................................................................................................. 7
Section A
Introduction and Warnings ................................................................................................... 7
Section B
Summary of Deutsche Hypothekenbank (Actien-Gesellschaft) ........................................... 8
Section C
The Notes ...........................................................................................................................13
Section D
Risks ..................................................................................................................................18

Risks specific to Deutsche Hypothekenbank (Actien-Gesellschaft) ..................................18

Risks specific to the Notes .................................................................................................24
Section E
Offer of the Notes ...............................................................................................................27
German Translation of the Summary .....................................................................................................29
Abschnitt A Einleitung und Warnhinweise .............................................................................................29
Abschnitt B Zusammenfassung der Deutsche Hypothekenbank (Actien-Gesellschaft) .......................30
Abschnitt C Die Schuldverschreibungen ...............................................................................................35
Abschnitt D Risiken ...............................................................................................................................41

Risiken in Bezug auf die Deutsche Hypothekenbank (Actien-Gesellschaft) .....................41

Risiken, die den Schuldverschreibungen eigen sind .........................................................48
Abschnitt E Angebot von Schuldverschreibungen ................................................................................52
Risk Factors ...........................................................................................................................................54
Risk Factors in respect of Deutsche Hypothekenbank (Actien-Gesellschaft) ........................................54
Risk Factors in respect of the Notes ......................................................................................................60
Documents incorporated by Reference ..................................................................................................66
Consent to the Use of the Prospectus ....................................................................................................70
General Description of the Programme ..................................................................................................71
General
...........................................................................................................................................71
Issue Procedures ....................................................................................................................................72
Deutsche Hypothekenbank (Actien-Gesellschaft) ..................................................................................74
Terms and Conditions of the Notes (English Language Version) ..........................................................81
Option I -
Terms and Conditions that apply to Notes (other than Pfandbriefe) with fixed
interest
rates
......................................................................................................................82
Option II - Terms and Conditions that apply to Notes (other than Pfandbriefe) with floating
interest
rates
....................................................................................................................100
Option III - Terms and Conditions that apply to Notes (other than Pfandbriefe) with fixed to

floating interest rates ........................................................................................................121
Option IV - Terms and Conditions that apply to Notes (other than Pfandbriefe) with floating to

fixed interest rates ............................................................................................................145
Option V - Terms and Conditions that apply to zero coupon Notes (other than Pfandbriefe) ..........169
Option VI - Terms and Conditions that apply to Pfandbriefe with fixed interest rates........................186
Option VII - Terms and Conditions that apply to Pfandbriefe with floating interest rates....................197
Option VIII - Terms and Conditions that apply to fixed rate Mortgage Pfandbriefe Tranche 368 ........211
Anleihebedingungen (German Language Version) ..............................................................................216
Option I -
Anleihebedingungen für Schuldverschreibungen (die keine Pfandbriefe sind) mit
fester
Verzinsung
.............................................................................................................218
Option II - Anleihebedingungen für Schuldverschreibungen (die keine Pfandbriefe sind) mit
variabler
Verzinsung
........................................................................................................239
Option III - Anleihebedingungen für Schuldverschreibungen (die keine Pfandbriefe sind) mit

fest- zu variabler Verzinsung ...........................................................................................264
Option IV - Anleihebedingungen für Schuldverschreibungen (die keine Pfandbriefe sind) mit



6

variabler zu fester Verzinsung .........................................................................................291
Option V - Anleihebedingungen für Nullkupon-Schuldverschreibungen (die keine Pfandbriefe
sind)
.................................................................................................................................318
Option VI - Anleihebedingungen für Pfandbriefe mit fester Verzinsung ............................................337
Option VII - Anleihebedingungen für Pfandbriefe mit variabler Verzinsung ........................................348
Option VIII - Anleihebedingungen für Hypothekenpfandbriefe mit fester Verzinsung Tranche 368 ....363
Form of Final Terms .............................................................................................................................368
Taxation
.........................................................................................................................................395
Selling Restrictions ...............................................................................................................................404
Pfandbriefe .........................................................................................................................................409
General Information ..............................................................................................................................413
Use of Proceeds ...................................................................................................................................413
Listing and Admission to trading ..........................................................................................................413
Authorisation .........................................................................................................................................413
Clearing Systems .................................................................................................................................413
Interests of Natural and Legal Persons Involved in the Issue/Offer .....................................................413
Names and Addresses .........................................................................................................................414



7

Summary
Summaries are made up of disclosure requirements known as "Elements". These elements are
numbered in Sections A ­ E (A.1 ­ E.7).
This summary (the "Summary") contains all the Elements required to be included in a summary for
this type of Notes and Issuer. Because some Elements are not required to be addressed, there may
be gaps in the numbering sequence of the Elements.
Even though an Element may be required to be inserted in the Summary because of the type of Notes
and Issuer, it is possible that no relevant information can be given regarding the Element. In this case,
a short description of the Element is included in the Summary with the mention of "not applicable".
[The Summary contains options, characterised by square brackets or typesetting in italics (other than
the respective translations of specific legal terms), and placeholders regarding the Notes to be issued
under the Programme. The summary of the individual issue of Notes will include the options relevant
to this issue of Notes as determined by the applicable Final Terms and will contain the information,
which had been left blank, as completed by the applicable Final Terms.]1
Element
Section A ­ Introduction and Warnings
A.1
Warnings Warning
that:
this Summary should be read as an introduction to the
Prospectus;
any decision to invest in the Notes should be based on
consideration of the Prospectus as a whole by the
investor;
where a claim relating to the information contained in the
Prospectus is brought before a court, the plaintiff investor
might, under the national legislation of the Member States,
have to bear the costs of translating the Prospectus,
before the legal proceedings are initiated; and
civil liability attaches only to the Issuer which has tabled
the Summary including any translation thereof, but only if
the Summary is misleading, inaccurate or inconsistent
when read together with the other parts of the Prospectus
or it does not provide, when read together with the other
parts of the Prospectus, key information in order to aid
investors when considering whether to invest in the Notes.
A.2
Consent to the use of
[Each Dealer and/or each further financial intermediary
the Prospectus
subsequently reselling or finally placing the Notes is entitled
to use the Prospectus for the subsequent resale or final
placement of the Notes during the offer period for the
subsequent resale or final placement of the Notes from [] to
[], provided however, that the Prospectus is still valid in
accordance with Article
11 (2) of the Luxembourg Law
relating to prospectuses for securities (Loi relative aux
prospectus pour valeurs mobilières), as amended, which
implements Directive 2003/71/EC of the European Parliament
and of the Council of 4 November 2003 (as amended).
The Prospectus may only be delivered to potential investors
together with all supplements published before such delivery.
Any supplement to the Prospectus is available for viewing in
electronic form on the website of the Luxembourg Stock
Exchange (www.bourse.lu) and on the website of Deutsche
______________________
1 To be deleted for the summary of an individual issue of Notes.



8
Hypothekenbank (www.deutsche-hypo.de).
When using the Prospectus, each Dealer and/or relevant
further financial intermediary must make certain that it
complies with all applicable laws and regulations in force in
the respective jurisdictions.
In the event of an offer being made by a Dealer and/or a
further financial intermediary the Dealer and/or the
further financial intermediary shall provide information to
investors on the terms and conditions of the Notes at the
time of that offer.]
[Not applicable. No consent has been given.]

Element
Section B ­ Summary of Deutsche Hypothekenbank (Actien-Gesellschaft)
B.1
Legal and Commercial
Deutsche Hypothekenbank (Actien-Gesellschaft)
Name
DEUTSCHE HYPO
B.2
Domicile / Legal Form / Hanover
Legislation / Country
of Incorporation
Joint stock company (Aktiengesellschaft)
German Law
Federal Republic of Germany
B.4b Known
Trends
Deutsche Hypothekenbank sees uncertainties over
affecting the Issuer
negotiations concerning the UK's departure from the
and the Industries in
European Union. The Bank's risk management system
which it operates
promptly identifies potential opportunities and risks from such
developments and implements corresponding
countermeasures. Furthermore, changes to underlying
conditions and the competitive situation in the commercial
real estate finance market can lead to portfolios and margins
performing better or worse than forecast. Changes to
underlying external or internal conditions could also have an
impact on the Bank's funding terms for its core business
area. In particular, harmonisation of EU insolvency law for
banks, which has resulted in the senior unsecured asset
class being split up into preferred and non-preferred
variations. This has resulted in ratings for these asset classes
being re-evaluated.
As part of the changes to the liability cascade, the senior
unsecured debt class was divided into two new debt classes:
senior unsecured preferred and junior/senior unsecured non-
preferred. All bonds issued by Deutsche Hypothekenbank
prior to the implementation of the law fall under the
junior/senior unsecured non-preferred debt class from 21 July
2018 and are rated Ba1. The senior unsecured preferred
debt class received the better Baa2 rating. The very good
Aa1 rating for Deutsche Hypothekenbanks's mortgage
Pfandbriefe was confirmed.



9
B.5
Description of the
Deutsche Hypothekenbank (Actien-Gesellschaft) forms part
Group and the Issuer's of NORD/LB Group. The Bank is a wholly owned subsidiary
position within the
of Norddeutsche Landesbank -
Girozentrale
-, Hanover,
Group
Brunswick and Magdeburg ("NORD/LB"). There is a control
and profit and loss transfer agreement in place between both
companies, as well as a so-called waiver, a simplification
option in accordance with Art. 7 (1) CRR, formerly Section 2a
(1) of the German Banking Act (KWG).
As a result of the waiver rule, Deutsche Hypothekenbank is
dependent on the regulatory capital requirements of the
parent company NORD/LB. According to the interim
management report of the NORD/LB Group as at 30 June
2018, it is working together with its owners on a
comprehensive concept for strengthening the capital ratios.
B.9
Profit Forecast or
Not applicable. No profit forecasts or estimates are made.
Estimate
B.10
Nature of any
Not applicable. The auditor's reports do not include any
Qualifications in the
qualifications.
Audit Report on
Historical Financial
Information



10
B.12
Selected historical key financial information
Deutsche Hypothekenbank at a glance for the fiscal year ended 31 December 2017
(German commercial law (HGB))
in million
31.12.2017 31.12.2016
Balance sheet figures
Receivables from financial institutions and from customers: Mortgage loans
12,077
11,977
Receivables from financial institutions and from customers: Loans to local authorities
3,892
4,816
Bonds and other fixed interest securities
5,517
6,760
Liabilities to financial institutions and to customers and securitised liabilities
22,254
23,493
Equity, funds for general banking risks, jouissance right capital and subordinated
liabilities
1,252
1,383
Balance sheet total
23,698
25,203
01.01.-
01.01.-
in million
31.12.2017 31.12.2016
Income statement figures
Net interest income *)
193.4
202.1
Net commission income (commission income less commission expenses)
0.3
3.7
General administrative expenses and write-downs and value adjustments of intangible
assets and tangible fixed assets
83.8
76.4
Write-downs and value adjustments on receivables and specific securities as well as
allocations to provisions in credit business
-41.3
-66.6
Write-downs and value adjustments on participatory interest, shares in affiliated
companies and on securities treated as fixed assets and income from write-ups of
participatory interest, shares in affiliated companies and securities treated as fixed
assets
-10.2
55.7
Result from normal operations
62.7
115.0
Extraordinary result
0.7
-1.6
Profit surrendered under partial surrender agreements or a profit and loss transfer
agreement **)
59.7
110.0
Profit for the period
0.0
0.0
in %
31.12.2017 31.12.2016
Other information
Cost-income-ratio (CIR) ***)
42.3
37.8
The information provided has been derived from the English translation of the audited financial statements for the fiscal year 2017.
*) Net interest income comprises interest earnings from credit and money market transactions and fixed interest bearing securities and book-entry
securities minus interest expenses
**) As a result of the profit and loss transfer agreement, 56.2 mil ion (2016: 101.6 mil ion) w as transferred to NORD/LB. In addition, interest on the
capital held by silent partners in the amount of 3.5 mil ion (2016: 8.4 mil ion) w as taken into account in this result.
***) CIR = (general administrative expenses + w rite-dow ns and value adjustments on intangible assets and tangible fixed assets) / (net interest income
including current income + net commission income + other operating income - other operating expenses)