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.

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