Roadshow Green Bond | June 2021 - Oberbank AG
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Roadshow Green Bond | June 2021
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COMPANY PROFILE
2 Roadshow Green Bond | June 2021
FACT SHEET OBERBANK
Oberbank
7th largest bank in Austria
Facts & Figures
Bank Total assets in EUR
Staff (FTEs)
2,168 1 Erste Group Bank 277.4 billion
2 Raiffeisen Bank International AG 166.0 billion
Receivables from
customers 3 UniCredit Bank Austria AG 118.5 billion
17.3 billion 4 BAWAG P.S.K. 53.1 billion
5 Raiffeisenlandesbank OÖ AG 41.5 billion
Primary funds
15.4 billion 6 Raiffeisenlandesbank NÖ-Wien AG 27.7 billion
7 Oberbank 24.4 billion
Number of branches 8 HYPO NOE Gruppe 16.4 billion
176
Raiffeisen-Landesbank Steiermark
9 16.0 billion
▪ Source: Oberbank AG, Annual Report 2020 | Annual Reports of the respective institutions AG
▪ As of 31.12.2020
3 Roadshow Green Bond | June 2021
5 COUNTRIES – 176 BRANCHES – ONE OBERBANK
2020: 176 Filialen
Potsdam
Branch openings 2021
• Potsdam
• Jindřichův Hradec
• Tatabánya (planned)
Mainz
Jindřichův Hradec
Karlsruhe Kosice
Memmingen
Tatabány
a
Source: Oberbank AG
4 As of: 31.12.2020
Roadshow Green Bond | June 2021
INDEPENDENCE DEVELOPED OVER YEARS
1869 1984 1990 2004 2019
Founded in Linz End of syndicate Market entry Market entry in 150 Years of
agreement with Bavaria/Germany the Czech Oberbank
Creditanstalt Republic 177 Branches
1945 2000 2009
13 branches First presentation Market entry in
of Oberbank, BTV Slovakia
and BKS as 3
Banken Gruppe
1952 2002 2013
Creditanstalt 100 branches 150 branches
sells 1/3
of its shares to
BKS and BTV 1986 2007
1929
Initial public offering Market entry in
Creditanstalt
at the Vienna Stock Hungary
becomes majority
Exchange
shareholder
5 Roadshow Green Bond | June 2021
ISSUER RATING OF OBERBANK
Rating by Standard & Poor‘s
Credit rating Outlook
Long-term issuer rating A negative
Short-term issuer rating A-1
Mortgage-backed cover pool AAA stable
Source: Standard & Poor‘s
As of: 11.02.2021 Issuer rating; 23.03.2021 Rating of mortgage-backed cover pool; 22.10.2020 Rating Senior Non-
Preferred
6 Roadshow Green Bond | June 2021
SHAREHOLDER STRUCTURE ENSURES AUTONOMY
Bank für Tirol und Vorarlberg AG
(incl. BTV 2000)
16.15%
Free Float
31.63%
Shareholder Structure BKS Bank AG
14.79% (incl. subordination syndicate with BVG)
31.03.2021
4.50% Wüstenrot Wohnungs-
UniCredit Bank Austria AG, Wien 3.41% wirtschaft reg. Gen.m.b.H
23.76% 1.62% Generali 3 Banken Holding AG
4.14%
CABO Beteiligungsgesellschaft m.b.H Employees
Source: Oberbank AG
7 Roadshow Green Bond | June 2021
As of: 31.03.2021
WE HAVE ONE OF THE OLDEST EMPLOYEE PARTICIPATION PROGRAMMES IN AUSTRIA
4.14 % ~ EUR 130 million
of Oberbank belongs to
invested by employees
our employees
4.14 % since 1994 ~ 2,600
Employees
one of the oldest employee
employees hold shares
participation programme
Employee Foundation
(Mitarbeiterstiftung) special offers for employees
Source: Oberbank AG
8 Roadshow Green Bond | June 2021
As of: 31.03.2021
BUSINESS MODEL
Corporate & Business Customers Portfolio Retail Customers
ca. 56,000 ca. 284,000
Business Finance
Export & investment (Structured)
finance finance, private Real estate
equity, finance Retirement
Documentary mezzanine & provisioning
business & capital, leasing subsidised loans
guarantees
Interest rate & Business
Mgmt.
Risk
currency investments & Private banking &
management pension plans Consumer loans &
asset
vehicle leasing
management
Payment
Payment
services
services & cash
management
Source: Oberbank AG: Annual Report per 31.12.2020
9 Roadshow Green Bond | June 2021
As of: 31.12.2020
EXPANSION ALSO REFLECTED IN DEVELOPMENT OF LENDING VOLUME
17,265
16,570
15,632
14,411
13,379
12,403
13,102 13,557
12,421
11,413 +3.5 %
10,550 +5 %
9,759 +9 %
+8 %
+3 % +8 %
2,829 2,998 3,211 3,468 3,708
2,644
+11 % +7 % +6 % +7 % +8 % +6.9 %
2015 2016 2017 2018 2019 2020
Retail Loans Corporate Loans
Source: Oberbank AG, Annual Reports 2015 to 2020
10 Roadshow Green Bond | June 2021
As of 31.12.2020 | Amounts in EUR billionDISTRIBUTION OF LOANS REFLECTS THE REGIONAL FOCUS
SK 3%
HU 5%
CZ 8%
Distribution of
DE 17% Upper Austria,
loans in the
regions Salzburg 45%
Lower Austria 8%
Vienna 14%
Source: Oberbank AG
11 Roadshow Green Bond | June 2021
As of 31.03.2021EQUITY CONTINUALLY INCREASED OVER THE PAST YEARS
4 bn. 20
Billions
%
17.87%
3.11 bn EUR
3 bn. 15
11.61%
2 bn. 10
1.53 bn EUR
Equity
Tier 1 Capital Ratio*
1 bn. 5
2014 2015 2016 2017 2018 2019 2020 Q1/2021
* Tier 1 Capital Ratio according to Basel III (since 2014)
Source: Oberbank Annual Reports 2014 – 2020;
12 Roadshow Green Bond | June 2021
Oberbank Shareholder Report 31.03.2021WE MEET THE STATUTORY CAPITAL REQUIREMENTS
20.43%
MREL*
17.84% 18.17%
IST zum
31.12. TREA TLOF
2020
IST zum Requirement* 21.72 % 14.25 %
31.12. As of
As of IST zum As of
2020
31.12. 31.12. 31.12. 31.12. As of
2020 2020 2020 2020 28.54 % 17.98 %
31.12.2020
+1.30% SREP
Premium
10.55%
8.55%
7.05%
Gesetzliches Gesetzliches
Regulatory
Erfordernis Regulatory
Erfordernis Regulatory
Requirement Requirement Requirement
Harte CET Tier 1 Ratio
Kernkapitalquote Tier 1 Capital Ratio
Kernkapitalquote Total Capital Ratio
Gesamtkapitalquote
▪ * From January 2022 on, Oberbank must fulfill MREL – requirements as prescribed by FMA; MREL= Minimum requirement of eligible liabilities
and own funds ; TREA = total risk exposure amount ; TLOF = total liabilities and own funds
Source: Oberbank Annual Report 31.12.2020;
13 Prospectus 2021 and Brospectus Supplement No. 1 dated 23.03.2021 Roadshow Green Bond | June 2021OBERBANK'S INVESTMENT STRATEGY
Financial and Industrial Sector Private Equity Other
Insurance companies
Source: Oberbank AG
14 Roadshow Green Bond | June 2021
As of 31.12.2020OBERBANK STRATEGY 2025 15 Roadshow Green Bond | June 2021
DIGITALISATION IS A KEY STRATEGIC GOAL:
DIGITAL SERVICES IN OUR CORPORATE & PERSONAL BANKING
IT Support by
Extension of Service and Sales Functions
Onboarding Digital Household Online
eKYC New Customers Credit Card Planner Consumer Loans
Apple Pay Redesign
Banking App
Online Wertpapier Safe
Integration Address Changes Investor Profile Investments
Performance
Investment Funds Guarantees
App optimized Multi-Bank Cash
for BC Management iTrader
Push Alerts Ability
2020 2021 2022
Source: Oberbank AG
16 Roadshow Green Bond | June 2021
As of 31.12.2020OBERBANK AT A GLANCE - KEY FIGURES Q1 2021
Profits before Tax Cost-Income-Ratio
+134.1 mn.1
59.2 mn. 53.5% n.a.2
+ 0,1%-P.
as of
31.03.2021
Lending Volume Primary Funds
+ 0.5 bn.3 + 0.7 bn.3
17.8 bn. + 3.0%
16.2 bn. + 4.7%
1 Reference figures: 31.03.2020
2 no informative value
3 Reference figures: 31.12.2020
Source: Oberbank AG
17 Roadshow Green Bond | June 2021
As of 31.03.2021 | Amounts in EURLONG-TERM DEVELOPMENT OF PROFITS BEFORE TAX
300
276.2 mn. EUR
250
200
167.5 mn. EUR
150
100
50
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
18 Source: Oberbank Annual Reports 2002 – 2020 Roadshow Green Bond | June 2021STABLE COST STRUCTURE
Cost-Income-Ratio (CIR)
58.5 %
53.5 %
50.5 % 50.8 % 49.9 % 50.0 %
48.9 %
2015 2016 2017 2018 2019 2020 Q1/2021
Source: Oberbank AG, Annual Reports 2015 – 2020;
19 Oberbank Shareholder Report 31.03.2021 Roadshow Green Bond | June 2021
As of 31.12. and 31.03.2021 respectivelyLOAN LOSS PROVISIONS
Charges for losses on loans Risk Indicators 2017 2018 2019 2020
(in mn. EUR)
NPL-Ratio gross* 2.59 % 2.43 % 1.96 % 2.05%
50
45
47.1 41.8
40
35
30
25 28.4
25.0 25.6
20
15
10 12.2
5
0
2015 2016 2017 2018 2019 2020
Source: Oberbank AG, Annual Reports 2015 – 2020;
20 As of 31.12. | As of 31.12.2020; * annual publication Roadshow Green Bond | June 2021#
SUSTAINABILITY
21 Roadshow Green Bond | June 2021SUSTAINABILITY AT OBERBANK
• Clear commitment to the goal of the Paris Climate Agreement to limit global warming to 1.5°C
E •
•
Decarbonisation of the credit portfolio by applying limits, exclusion criteria and positive criteria
Impact reporting: measurement and reporting on the impact of our loans (CO2 reduction)
Environment
• Climate neutrality of own operations (in Scope 1 & Scope 2) by 2025
• Fair employer & employee satisfaction
S •
•
Sustainable human resources development & active health management
Employee participation scheme: one of the oldest employee participation schemes in Austria
Social
• Social responsibility: we support numerous initiatives in our regions
• Identification and measurement of ESG risks in our credit portfolio
G •
•
Proactive stakeholder dialogue as a fixed component of sustainability management
Commitment to the Austrian Code of Corporate Governance (ÖCGK)
Governance
• Compliance: high quality training courses guaranteed for all employees
22 Roadshow Green Bond | June 2021OBERBANK’S CONTRIBUTION TO THE UN SUSTAINABLE
DEVELOPMENT GOALS
The sustainability ambitions of
Oberbank comply with the
UN’s sustainable development
goals.
Minimum of EUR 1.5 billion in
sustainable loans to individuals
We make concrete,
measurable contributions to
help achieve the SDGs:
23 Roadshow Green Bond | June 2021MATERIALITY ANALYSIS AS A BASIS OF THE ESG STRATEGY
Focus Areas
The results of the materiality analysis
are at the heart of Oberbank’s
very high
Influence on assessment and decision-making of stakeholders
Protection of
Portfolio of sustainable
products and lending policy
sustainability strategy.
customer data
Customer
Compliance
satisfaction The materiality analysis is
high Fair employer
Asset
the cornerstone of
management &
Treasury • our sustainability strategy
Protect labour rights & ensure safe working environment
Corporate Governance
moderate Social engagement / Human resources • sustainability goals, measures and
corporate citizenship development
Work-life balance
indicators
Sustainable procurement
& relationships with • annual sustainability report (in
suppliers Environmentally-
low compatible accordance with GRI standards: core
operations
option)
low moderate high very high
Economic, environmental, social impacts of activities
24 Roadshow Green Bond | June 2021SUSTAINABILITY MANAGEMENT
Stakeholder dialogue:
Sustainability Officer Sustainability • Regular re-evaluations of our sustainability
for the entire bank Committee engagement with our key stakeholder groups
• Recognized best-practices peer
Sustainability Officer
for each central department Participants of the stakeholder dialogue
2020
Private sector Public sector
Sustainability organisation at Oberbank: institutions
• Sustainability Officer is the first point of contact and hub for the
various sustainability tasks within the Group
• One Sustainability Officer for each department to ensure that
the topic is well-established in all areas
• Sustainability Committee (management board & department
heads) ensures the implementation of the sustainability strategy
and approves new measures Interest group representatives, advisors
25 Roadshow Green Bond | June 2021AWARDS AND MEMBERSHIPS
Memberships and industry initiatives
UN Global Compact
Our activities received the VÖNIX
Sustainability Award of the
Vienna Stock Exchange in 2020
Österreichische Gesellschaft für
Umwelt und Technik
Austrian environmental label for
sustainable financial products for:
• Sustainable portfolio management
• Sustainable account models
austrian business council for
sustainable development (be(e) green giro account, be green
savings account)
26 Roadshow Green Bond | June 2021STRATEGIC FIELDS OF ACTION UNTIL 2025
Governance Finance and Asset Environment Society Customers
Commitment to lending policy Management
Climate neutrality Commitment to Retain high customer
1.5 C goal Minimum of EUR 1.5 Double the Scope 1 & Scope 2 regionality principle satisfaction rating
billion in sustainable volume of (Net Promoter Score
Sustainability is loans granted to sustainable CO2 carbon footprint 95% of our
> 60)
part of the overall individuals investments to per employee sponsoring budget
bank strategy EUR 2.5 billion < 1 ton CO2 goes into our Digitisation degree
Decarbonisation of markets of customers
Engagement in the portfolio > 80%
ESG initiatives Employees Procurement
Impact reporting: primarily from the
Dialogue with Next generation: 80%
50% of all new of management staff recruited region
stakeholders
issues meet ESG from within the company
criteria (green/social
Gender balance: 30% female
bonds)
management staff
27 Roadshow Green Bond | June 2021EXCLUSION CRITERIA
Oberbank will not enter into business relationships Absolutely excluded transactions
with companies and will distance itself from a Sector/criterion Excluded
company for which it is known or becomes known in • Production of nuclear power
• Mining of uranium and enrichment
the course of a business relationship that it Nuclear power
• Handling and trade in radioactive waste or hazardous
• violates labour law, human rights •
waste and/or receipt of commissions on such trade
Production and trade in drugs not permitted for
Drugs
• or employs child labour. consumption in Austria by law
Gemstones and conflict
• Mining of conflict materials or blood diamonds or similar
materials
• Non-compliance with internationally recognized standards
Fishery and treaties
Exclusion criteria for countries • Trade in endangered and threatened species, or trade in
Trade in protected species protected by the Washington Convention on
Criterion Excluded animals or export International Trade in Endangered Species of Wild Fauna
Countries on the black, dark gray or gray list of the leather and Flora (CITES) or in parts of such animals
FATF list Financial Action Task Force on Money Laundering (FATF) • Brokering of hunts or hunting of such animals
Countries on the EU list of high-risk countries (RE (EU) High-volume fracking
EU list of high-risk countries 2020/855) • Primary business purpose is high-volume fracking or
and extraction of oil
Countries that have not ratified the 2015 Paris Climate extraction of oil sands
Climate protection sands
Agreement
Coal • Exclusive extraction of coal
Freedom of the press and Countries in which press and media freedom is massively
restricted (on blacklist of Reporters Without Borders) • Destructive human embryo research that contributes
media Embryo research significantly to revenues (excluding in-vitro fertilization)
Countries against which EU sanctions have been imposed
unless specifically defined policies and procedures are in
Sanctions place at Oberbank to mitigate the relevant risks in a
lawfully compliant manner.
28 Roadshow Green Bond | June 2021#
OBERBANK AG GREEN BOND FRAMEWORK
29 Roadshow Green Bond | June 2021OBERBANK AG GREEN BOND FRAMEWORK
The Framework is based on the current version of the Green Bond Principles of ICMA (2021), the Delegated Acts for
Environmental Objectives 1 and 2 of the EU Taxonomy (June 2021) and the requirements of the draft of the EU Green
Bond Standard (2020).
Net proceeds of the Green Bond Instruments will be used to finance or refinance, in whole or in part, loans or
Use of Proceeds
investments that promote the transition to a low-carbon, climate resilient and sustainable economy
Process for Loan
Evaluation & Oberbank‘s Green Bond Committee is responsible for the selection and evaluation of Green Loans, which
Selection were previously declared eligible .
Management of The net proceeds of Green Bond Instruments issued under this Framework are managed by the Green Bond
Proceeds Committee applying a portfolio approach.
Annual reporting on the allocation of the proceeds to the green portfolio on an aggregate (portfolio) basis &
Reporting
on the environmental impact of the green loans financed with the net proceeds of the Green Bond
Instruments.
30 Roadshow Green Bond | June 2021USE OF PROCEEDS
Green Green
Definition Eligibility criteria UN SDG EU-Taxonomy
project category sub-category
Energy Performance Certificate (EPC) Class A.
Alternatively, buildings that belongs to the top Environmental
Acquisition and ownership of residential
15% most energy efficient buildings at the Objective (1):
buildings (single-family and multi-family) built
national or regional level in terms of Climate Change
before 31 December 2020
operational primary energy demand (PED), with Mitigation
Construction of new the corresponding certification.
buildings The primary energy demand (PED), which
defines energy efficiency of a building after
construction, is at least 10% below the national
Acquisition and threshold for nearly zero energy buildings
ownership of Acquisition and ownership of residential (NZEB) and verified by an Energy Performance
Green Buildings Certificate (EPC).
residential buildings buildings (single-family and multi-family) built
(residential) after 31 December 2020 For residential buildings over 5.000 m2: Testing
for air tightness and thermal integrity upon
completion or, alternatively, verifiable quality
control processes during the construction
process.
Building renovation complies with the applicable
Renovation of
Renovation of existing single-family and multi- requirements for major renovations.
existing residential
familiy homes Alternatively, it leads to a reduction in primary
buildings energy demand (PED) for at least 30%.
31 Roadshow Green Bond | June 2021LOAN EVALUATION & SELECTION
Precise internal review processes and responsibilities have been defined at Oberbank to assess sustainability (according
to the EU Taxonomy) and the eligibility of loans granted by Oberbank for green bond funds.
Oberbank's existing business in the area of retail mortgages was analysed by an external partner (Drees & Sommer) and
assessed for eligibility as sustainable financing for the first issue of a green bond under this Framework.
In the future, new business will also be assessed internally according to the same logic.
Oberbank has set up a Green Bond Committee (GBC) to manage the Green Bond Framework. The member of
Oberbank’s Management Board responsible for sustainability is on Oberbank's GBC (and also chairs it) as well as the
relevant department heads and the Oberbank's sustainability officers.
The Green Bond Committee is responsible for
• Approval of green loans identified in accordance with the aforementioned definition of green loans
• Exclusion of green loans that no longer meet the green bond criteria
• Identification and management of potential ESG risks of green loans
• Monitoring the distribution of net proceeds from Green Bond Instruments
• Review and updating of the Green Bond Framework
32 Roadshow Green Bond | June 2021MANAGEMENT OF PROCEEDS
The net proceeds of Green Bond Instruments issued under this Framework are managed by the Green Bond
Committee applying a portfolio approach.
• Oberbank allocates the net proceeds from Green Bond Instruments to a portfolio of eligible loans that meet the green
bond criteria as described in the section on Use of Proceeds. Eligible green loans are flagged as such in the bank's
internal system, and can therefore be represented in a portfolio.
• Oberbank’s aim is to fully allocate eligible green loans to the portfolio (Green Portfolio) until maturity, but at the latest
18 months after the issue. If loans are removed from the Green Portfolio due to early repayment, redemption, sale or
loss of status as eligible for the Green Portfolio, they will be replaced by eligible green loans.
• The availability of eligible green loans and compliance with green bond criteria is reviewed on a quarterly basis.
33 Roadshow Green Bond | June 2021REPORTING & GREEN PORTFOLIO
Oberbank will prepare and make available reports on
• the allocation of the net proceeds to the Green Portfolio on a nominal equivalence basis one year after the issuance
of the respective Green Bond Instruments (Allocation Reporting);
• on the environmental impact of the green loans financed with the net proceeds of the Green Bond Instruments
(Impact Reporting).
These reports will be updated annually until full allocation.
The reports will be assessed and approved by Oberbank‘s Green Bond Committee.
Green Portfolio as of 31.05.2021
Annual CO2
a Annual final
Type Number of loans Signed amount emissions
energy savingsb
avoidancec
[-] [EUR] [MWh/year] [tCO2/year]
Oberbank AG - AT Green Building 1115 250,599,973.52 49,021.36 6,917.83
a Legally committed signed amount by the issuer for the porfolio or portfolio components eligible for green bond cGreenhouse gas emissions avoidance determined by multiplying the final energy savings with the carbon emissions intensity
financing.
bFinal energy savings calculated using the difference between the top 15% and the national building stock benchmarks
34 Roadshow Green Bond | June 2021SECOND PARTY OPINION – ISS ESG
Part 1:
• According to the ISS ESG Corporate Rating the issuer shows a high sustainability Consistent
Green Bonds link performance against the industry peer group on key ESG issues faced by the Public with issuer’s
to issuer’s & Regional Banks sector. sustainability
sustainability • The issuer is rated 32 out of 277 companies within its sector.
strategy
strategy
Part 2: • The issuer has defined a formal concept for its Green Bonds regarding use of
Performance proceeds, processes for project evaluation and selection, management of
against the Green proceeds and reporting. This concept is in line with the Green Bond Principles Positive
Bond Principles (June 2021).
• The use of proceed categories ‘green buildings’ have a positive contribution to
SDG 13 ‘Climate Action’.
Part 3: • Based on robust processes for selection of Green Loans, ISS ESG considers the
Alignment of the green eligible projects to be aligned with the EU Taxonomy (June 2021) and the
Use of Proceeds relevant activity-specific Technical Screening Criteria, Do No Significant Harm Aligned
Criteria and Minimum Social Safeguards.
with the EU
Taxonomy
35 Source: ISS ESG Second Party Opinion on Oberbank AG Green
Bond Framework, 17.06.2021 Roadshow Green Bond | June 2021#
REAL ESTATE MARKET
36 Roadshow Green Bond | June 2021DEVELOPMENT OF THE REAL ESTATE MARKET IN AUSTRIA
300 Prices: Austria total 300 Prices: Austria excluding Vienna
(2003Q1=100) (2003Q1=100)
250 250
200 200
150 150
100 100
50 50
2003 2006 2009 2012 2015 2018 2021 2003 2006 2009 2012 2015 2018 2021
Austria Vienna Austria excluding Vienna Single-family Houses New condominiums Used condominiums
▪ Increasing prices for residential properties in all price
Price Increase
segments, especially strong demand for single-family
Q1 / 2021 Reference figure Reference figure houses
Q4 / 2020 Q1 / 2020
AT +3.9 % +12.3 %
▪ COVID-19 pandemic has evoked the desire for living in
the countryside or with an own garden
AT excl. Vienna +4.6 % +14.0 %
Vienna +3.3 % +10.9 %
▪ Price development in Vienna in line with the rest of
Austria
Source: OeNB
37 As of: 1st Quarter 2021 Roadshow Green Bond | June 2021RESIDENTIAL BUILDING: RECOVERY FROM COVID-19 PANDEMIC
Real housing investment
(Annual change in %)
10
5
0
-5
-10 Residential Building Activities 2020
-15
2003 2006 2009 2012 2015 2018 2021
Decrease of real housing investments compared
Building permits to 2019: -4.0 %
60 (Annual change in %)
40 Decrease of building permits compared to 2019: -2.2
20 %
0
-20
-40
2006 2009 2012 2015 2018 2021
Number of dwelling units Gross loor space
Source: OeNB
38 As of:4th Quarter 2020 Roadshow Green Bond | June 2021CONSTANT GROWTH OF HOUSING LOANS
Affordability
180
(Average since 1989=100)
160
140
120
100
▪ The nominal annual growth rate of housing loans 80
to private households has slightly increased in 60
40
March 2021 to 6.1 % (6.0 % in March 2020) 1991 1996 2001 2006 2011 2016 2021
Austria Vienna
▪ Favourable conditions
Housing loans
▪ Average interest rate for housing loans to 30 (Annual chnge in %)
private households in March 2021: 1.18 %
20
(-22 basis points compared to March 2020)
10
0
2003 2005 2007 2009 2011 2013 2015 2017 2019 2021
To private households
Source: OeNB
39 As of: 1st Quarter 2021 Roadshow Green Bond | June 2021SUMMARY REAL ESTATE MARKET
▪ Decrease in residential ▪ Stable real estate market ▪ Higher Unemployment
building activities 2020 despite COVID-19 ▪ Government aids compensate
▪ Forecast 2021: Recovery uncertainty of planning for market
participants
▪ Favourable terms of financing
40 Roadshow Green Bond | June 2021#
COVER POOL
41 Roadshow Green Bond | June 2021OBERBANK MORTGAGE-BACKED COVER POOL
Granular cover No loans at risk
pool / included/
only EUR loans rating floor
Conservative
AAA-Rating lending /
S&P risk managment
Strong Focus on
economic regions residential
AT & GE real estate
42 Roadshow Green Bond | June 2021HIGH OVERCOLLATERALISATION – FOCUS ON HOUSING SECTOR
Cover Pool (in mn. EUR) Portfolio
2,256
Surplus cover
Commercial
EUR 1,019.2 mn.
22.6 %
Total issues
EUR 1,236.5 mn.
thereof EUR 500 mn.
Retained Covered Bond
Residential
77.4 %
Cover pool Issues
June 2021: Emmission of a new Retained Covered Bond (EUR 280 Mio.)
43 Source: ATT Cover Pool Reporting as of 31.03.2021 Roadshow Green Bond | June 2021COVER POOL - COMPOSITION
Granularity – 50% < 300.000 EUR* Regional distribution**
20% 9%
16%
445 mn. 362 mn.
15% 30%
16% 5%
355 mn.
34%
775 mn. 8%
7%
149 mn. 8% 20%
170 mn. 14%
Upper Austria Vienna Lower Austria Salzburg
< 100.000 100.000 - 300.000 300.000 - 500.000
500.000 - 1.000.000 1.000.000 - 5.000.000 >= 5.000.000 Other AT Bavaria Other DE
Source: * Fundierte Bankschuldverschreibung Reporting as of 31.03.2021
44 ** ATT Cover Pool Reporting as of 31.03.2021; Stand: 31.03.2021
Roadshow Green Bond | June 2021TREND TOWARD FIXED INTEREST RATES FOR HOUSING LOANS
Interest terms in Austria
in the cover pool
fixed
38%
31.03.2021
floating
62%
in % of the portfolio
45 Source: ATT Cover Pool Reporting as of 31.03.2021 Roadshow Green Bond | June 2021#
FUNDING
46 Roadshow Green Bond | June 2021FUNDING ACTIVITIES
2020
Senior Non-Preferred
2019 Debut 2021
Senior Preferred Club Deal Covered Bond*
Debut EUR 100 mn. 7 years
EUR 250 mn. 7 years
PLANNING > 2021 **
2020
Covered Bond 2021
2018 EUR 250 mn. 10 years Senior Non-Preferred
Covered Bond Debut
EUR 250 mn. 8 years
EUR 300 mn. 15 years
* Sub-Benchmark
** The planning status is 31.03.2021. Issuances cannot be guaranteed, because they depend on the market situation and other economic and regulatory factors.
Source: Oberbank AG, Icon made by Darius Dan from www.flaticon.com
47 As of 31.03.2021 Roadshow Green Bond | June 2021LEGAL FRAMEWORK
Oberbank Covered Bond Status quo - Law on Covered Bank Bonds
Harmonisation of the „Pfandbriefgesetz“ in elaboration:
▪ First draft of a uniform Austrian Law on Covered-Bonds
▪ Legal establishment of Soft-Bullet Structures
▪ Increase of LTV limit for private loans to 80%
▪ Introduction of a 180-day liquidity buffer
▪ Internal trustee
48 Roadshow Green Bond | June 2021INDICATIVE GREEN COVERED BOND TERMS
Issuer: Oberbank AG
Expected Rating of the Notes: AAA by Standard & Poor’s
Status of the Notes: Mortgage Covered Bond
(Hypothekarisch fundierte Bankschuldverschreibung)
Maturity: 7-10 years
Maturity Type: Soft Bullet
Day Count Fraction: Actual / Actual (ICMA), unadjusted (TARGET)
Denomination: EUR 100.000 + EUR 100.000
Listing: Vienna Exchange, Official Market (Amtlicher Handel)
Law: Austrian Law
Documentation:: Oberbank’s Debt Issuance Programme, Base Prospectus dated 12th February 2021
and supplemented on 23th March 2021, 25th May 2021 and 15th June 2021
Use of proceeds: Use of Proceeds will be allocated by the Issuer to Eligible Green Projects as set out
in the Oberbank Green Bond Framework, available at
https://www.oberbank.at/bondinvestoren
Manufacturer target market: eligible counterparties and professional clients only
49 Roadshow Green Bond | June 2021SUMMARY
Independence is a key goal
Strong & sustainable ownership structure
High degree of stability Sustainability
▪ Stable results ▪ Concrete, measurable
▪ Total capital ratio of 20,19 %* contributions to help achieve the
▪ Long-term issuer rating (S&P): SDG
A, with a negative outlook** ▪ Strategic fields of action until 2025
Clear expansion strategy
Focus on strong economic regions of Austria, Germany, Czech
Republic, Hungary and Slovakia
▪ * Oberbank Shareholder Report 31.03.2021,
▪ **As of 11.02.2021 Issuer rating by Standard & Poor‘s
50 Source: Oberbank AG Roadshow Green Bond | June 2021CONTACTS
Florian Hagenauer Robert Musner
Member of the Board Head of Treasury & Trading
+43 / 732 / 7802 - 37206 +43 / 732 / 7802 - 32640
+43 / 664 / 805565 000 +43 / 664 / 805565 224
florian.hagenauer@oberbank.at robert.musner@oberbank.at
Nora Berger Thomas Katzlinger
Sustainability Management Group Head
Trading / Capital Markets
+43 / 732 / 7802 - 37127 +43 / 732 / 7802 - 32637
+43 / 664 / 805565 551 +43 / 664 / 805565 534
nora.berger@oberbank.at thomas.katzlinger@oberbank.at
51 Source: Oberbank AG Roadshow Green Bond | June 2021DISCLAIMER
This presentation (“Presentation") has been prepared by Oberbank AG (“Company") exclusively for advertising purposes. It serves merely as information and does not constitute a
financial analysis or advice or recommendation for any financial instrument; neither does it constitute an offer to sell or a solicitation to buy securities of the Company.
Neither the Company nor the management or staff of the Company or affiliated companies are under the obligation to update the data contained in this Presentation or to adjust the
data to future events and developments; neither do they make any declarations, warranties or representations - explicitly or implied - to the effect that the statements in this
Presentation are correct, complete and not misleading.
Any public offering of debt securities of the Company subject to the obligation to publish a prospectus shall be carried out exclusively on the basis of the capital market prospectus
approved and published by the Financial Market Authority (FMA) on 12 February 2020 including the relevant final terms and conditions and all supplements (“Prospectus”). This
Prospectus is available free of charge from the Company at Untere Donaulände 28, 4020 Linz, and is also available in electronic form on the issuer’s website
(https://www.oberbank.at/anleihen).
The approval of the Prospectus by the FMA may not be construed as a recommendation for the debt securities offered in the Prospectus. Only the information contained in the
Prospectus shall be binding. Investors are recommended to read the Prospectus before reaching an investment decision in order to fully understand the potential risks and
opportunities of an investment in securities. Investors are requested to read the risk warnings carefully before reaching an investment decision.
This Presentation or any copy of it is not permitted to be brought to or published in the United States of America, Australia, Canada, Japan, Ireland, United Kingdom or any other
country in which the distribution, the use and the publication of these materials are against the law. The debt securities have not been registered pursuant to the United States
Securities Act of 1933 or any other authority of a U.S. state or pursuant to the applicable securities laws of Australia, Canada, Japan, Ireland or the United Kingdom and are not
permitted to be offered for sale or sold in the United States or for the account of a US person or another person who is a resident of Australia, Canada, Japan, Ireland or the United
Kingdom. There will be no public offering of the debt securities in the United States, Australia, Canada, Japan, Ireland or the United Kingdom.
Potential recipients of this Presentation may not interpret the contents of this Presentation as advice in legal, tax or investment matters, and must reach their own assessments with
respect to such matters and other consequences of an investment in the Company or in securities issued by the Company, including the benefits of investments and the related risks.
By accessing this Presentation, you confirm to the Company that you are (i) permitted to receive such information under all applicable laws, and (ii) that you alone are responsible for
your own assessment of the market position of the Company and will conduct your own analysis, furthermore, you are solely responsible for reaching an opinion on the potential
development of the Company.
Although the Company assesses the sources used in this Presentation as reliable, we do not assume any liability for the completeness or correctness of the information provided in
this Presentation. In particular, the Company does not assume any liability for the correctness of the figures given. The figures given in this Presentation refer to the past. These can
not be used to derive future trends.
Oberbank AG, legal form: Aktiengesellschaft (joint stock company), registered office in: Linz
Companies Register FN 79063 w, District Court Linz, DVR: 0019020
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