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How we achieve success

Within KfW Group, KfW IPEX-Bank is responsible for international project and export finance. By providing tailored financing the specialist bank supports German and European exporters in global markets - all the while ensuring economic strength, growth and employment in both Germany and Europe.

KfW IPEX-Bank can look back on a successful financial year 2018. Despite economic and political challenges in some regions of the world, high market liquidity and the constant pressure on banks and institutional investors to invest, KfW IPEX-Bank was able to fulfil its legal mandate to support German and European exporters in global markets. The volume of lending in the Export and Project Finance business sector increased to EUR 66.6 billion as of 31 December 2018 (2017: EUR 61.9 billion).

Volume of lending 2018 by sector department (EUR in billions)

Volume of lending of the business sector¹ by sector department	2018 EUR in billions
Maritime Industries	14.3
Power, Renewables and Water	14.2
Aviation, Mobility & Transport²	9.7
Basic Industries	9.7
Industries and Services	7.7
Infrastructure³	7.2
Financial Insitutions, Trade and Commodity Finance	3.7
Total	66.6

¹⁾For which KfW IPEX-Bank GmbH is responsible
²⁾In 2018 “Aviation and Rail” was renamed “Aviation, Mobility & Transport”
³⁾In 2018 “Transport and Social Infrastructure (PPP)” was renamed “Infrastructure”

Balance sheet key figures	2018 EUR in billions	2017 EUR in billions
Total assets	27.3	25.4
Volume of lending	35.1	30.7
Contingent liabilities	1.6	1.6
Irrevocable loan commitments	8.4	6.3
Assets held in trust	0.4	0.2
Volume of business (total assets, contingent liabilities and irrevocable loan commitments)	37.3	33.3
Equity	3.9	3.9
Equity ratio (%)	14.4	15.2

Results	2018 EUR in millions	2017 EUR in millions
Operating income before risk provisions/valuations	258	147
Risk provisions and valuations	-5	-78
Profit transferred due to a profit pooling, profit transfer or partial profit transfer agreement	238	113
Result of the Export and Project Finance business sector (segment report, consolidated financial statements of KfW Group)	537	469
Number of employees (including Management Board)	697	680

The figures in tables were calculated exactly and added up. Figures may not sum to totals because of independent rounding.

More detailed information is provided in our Management Report & Financial Statements. For personnel key figures for the financial year 2018 go to Human Resources.

Lagebericht & Jahresabschluss / Management Report & Financial Statements

Management Report & Financial Statements 2018 (in German, English version will follow soon)

Find out more

Legal notice:

The information contained in this online Annual Report 2018 is based on KfW IPEX-Bank’s Management Report 2018, which you can download here. Should this online Annual Report 2018, despite the great care taken in preparation of its content, contain any contradictions or errors compared to the Management Report, KfW IPEX-Bank’s Management Report 2018 takes priority.