NEWS

The rating agency Standard & Poor's has developed and published a new rating methodology.As a result, the ratings of all financial institutions worldwide have been subject to a renewed review.
The long-term rating for the cooperative financial network and for DZ BANK has been raised from A+ to AA-. The outlook is still regarded as "stable". Only 20% of the rated financial institutions will receive an upgrade due to the new methodology. We are therefore all the more pleased that the successes of the cooperative financial network and of DZ BANK are being acknowledged in this way.
The aim of Standard & Poor's changed method is to create greater comparability among banks, both on a European and international level, and greater transparency with respect to the preparation of the rating. For the first time, the starting point for the approach to the evaluation of banks is the BICRA, the Banking Industry Country Risk Assessment (assessment of the economic environment and of the German banking industry). This forms the basis for each bank rating. Building on the BICRA scores, upgrades or downgrades are carried out to produce the Stand Alone Credit Profile (SACP). The consideration of possible government and/or group support leads to the issuer rating. For the first time, comparisons with competitors are also being used to check the plausibility of the rating.
The following positive points have been identified for the cooperative financial network and DZ BANK:

Impressive market share of the local cooperative banks in the retail business as well as broad range of financial products and services offered by the cooperative sector's
specialized service providers.

High capital and earnings strength in the cooperative financial network with an ownership structure that supports retention of profits.

The risk positions are regarded as adequate, the local cooperative banks are benefiting from the granularity of their retail and SME portfolio.

Due to the high level of deposits with the local cooperative banks, the cooperative financial network has a comfortable liquidity position and an above-average funding base.