EQS-Adhoc: Varengold Bank AG: Further reduction in preliminary annual results for 2024

Hamburg, 28/04/2025 – After Varengold Bank had already announced a deviation from its previous earnings forecast for the 2024 financial year in an ad hoc announcement on 26 March 2025 due to year-end closing procedures, a further allocation of EUR 4 million to the contingency reserve in accordance with Section 340g of the German Commercial Code (HGB) was decided today in order to cover potential risks arising from, among other things, historical cum-ex issues and the results of the ongoing special audit pursuant to Section 44 of the German Banking Act (KWG) as well as other risks with an additional risk buffer for the bank's ongoing transformation process. This additional provision reduces the previously forecasted earnings before taxes for the 2024 financial year to around EUR 2.1 million.

Disclaimer

This notification is a mandatory notification according to Art. 17 MAR. The assessments contained are subject to the following caveats.

Disclaimer on forward-looking statements / no duty to update

This communication contains forward-looking statements that are subject to certain risks and uncertainties. Future results may differ materially from those currently expected, namely due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, fluctuations in exchange rates, uncertainties regarding legal disputes or investigations, and the availability of financial resources. The reader should therefore not over-rely on these statements, particularly in connection with contracts or investment decisions. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this communication.

Note

This announcement does not constitute an offer or invitation to subscribe for or purchase any securities of Varengold Bank AG in the United States of America, Germany or any other jurisdiction. This announcement does not constitute a recommendation regarding the placement of the securities described in this announcement.

Contact:
Ms. Sanja Schultz-Szabo (Head of Corporate Development)