Bayerische Landesbank
Bayerische Landesbank
Bayerische Landesbank / Key word(s): Miscellaneous/Weiteres Schlagwort 12.01.2012 08:30 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 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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