The Pfandbrief 2011 | 2012

As a universal bank licensed to issue Pfandbriefe (covered bonds under German law), Ludwigsburg-based
Wüstenrot Bank AG Pfandbriefbank (“WBP”) forms part of the Home Loan Savings Bank division of Wüstenrot
& Württembergische Group (“W&W”), alongside Wüstenrot Bausparkasse AG, W&W Group’s savings and home
financing institution. W&W Group are the experts covering the four key elements of modern financial planning:
personal insurance, home loan savings and housing, risk protection, as well as savings and investment. WBP was
created from the merger of Wüstenrot Bank AG and Wüstenrot Hypothekenbank AG. The two banks joined forces
to capitalise on the reformed legal framework created by the new German Pfandbrief Act (Pfandbriefgesetz),
which came into force on 19 July 2005. Within the W&W Group, WBP provides home loan financing to private
customers outside the home loan savings business. Its funding strategy is focused on the capital markets: most
of WBP’s business is refinanced through Pfandbrief issues, but also via customer deposits. In addition, WBP’s
award-winning current account is used by other Group entities to attract and retain customers.
Rating: Mortgage Public Short-term Long-term
Pfandbriefe Pfandbriefe liabilities liabilities
Fitch AAA AAA F2 BBB+
Standard & Poor’s – – A2 BBB+
Selected key figures
2010
€ million
2009
€ million
Total assets
15,463
15,302
Mortgage loan portfolio
9,256
9,418
Residential loans
8,632
8,630
Commercial loans
624
788
of which cross-border
0
0
154
Mortgage loan commitments
Residential loans
788
723
347
314
Commercial loans
65
33
of which cross-border
0
0
Public-sector loan portfolio
1,803
1,514
of which cross-border
482
567
Public-sector loan commitments
884
1,203
of which cross-border
66
387
Total funds outstanding (registered and bearer bonds)
6,128
6,391
Mortgage Pfandbriefe
4,287
4,154
Public Pfandbriefe
5
30
Unsecured bonds
97
169
Promissory notes
1,739
2,038
Jumbo issues outstanding
0
0
Refinancing funds raised
341
858
Mortgage Pfandbriefe
341
858
Public Pfandbriefe
0
0
Unsecured bonds
0
0
Promissory notes
0
0
Own funds as shown in the balance sheet – total –
524
546
Core capital (without net income)
320
320
Profit-sharing capital
75
75
Subordinated liabilities
129
151
Net interest income
108
110
Administrative expenditure
88
83
Operating result before provisions for risks
17
37
Provisions for risks
13
18
Operating result after provisions for risks 1)
4
19
Income for the year 1)
1
18
1)
including compensating payment to W&W AG
Presence in electronic media: Reuters: WUES, WUEST01 - WUEST04; Bloomberg: WBPF, WUES
Contacts:
Head of Treasury Dennis Bach Tel.: +49 7141 16 - 4638 dennis.bach@wuestenrot.de
Deputy Head Michael Conle Tel.: +49 7141 16 - 2842 michael.conle@wuestenrot.de
Deputy Head André Schlieker Tel.: +49 7141 16 - 5197 andre.schlieker@wuestenrot.de
Pfandbriefmanagement Frank Boetzer Tel.: +49 7141 16 - 5665 frank.boetzer@wuestenrot.de
Funding Frank Retzmann Tel.: +49 7141 16 - 2848 frank.retzmann@wuestenrot.de
Bernhard Wischkoni Tel.: +49 7141 16 - 5630 bernhard.wischkoni@wuestenrot.de
Fax: +49 7141 902941