Ratings

DZ BANK Group is part of the cooperative financial services network which includes almost 700 local cooperative banks and, as measured by total assets, is one of the largest private financial services organizations in Germany.

Due to the high cohesion within the cooperative financial services network Fitch Ratings and Standard & Poor's assign a so-called group rating. Within the group rating, the cooperative financial institutions in Germany are considered consolidated.

Bank Ratings

	Standard & Poor's*	Moody's	Fitch Ratings*
Issuer Rating (Outlook)	A+ (stable)	Aa2 (stable)	AA- (stable)
Short-Term Rating	A-1	P-1	F1+

Issue Ratings

	Standard & Poor's	Moody's	Fitch Ratings
Covered Notes (DZ BANK Briefe)	AA+	Aaa	-
Long-Term Deposits	-	Aa2	AA
Long-Term Counterparty Risk Rating / Derivative Counterparty Rating	-	Aa2	AA
Preferred Senior Unsecured	A+	Aa2	AA
Non-Preferred Senior Unsecured	A	A3	AA-
Tier 2	A-	Baa1	A
AT 1	BBB-	-	BBB+

* joint rating for the cooperative financial network (Genossenschaftliche FinanzGruppe)

Standard & Poor's

Moody's

DZ BANK: Credit Opinion (May 2025)

Fitch Ratings

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Protection Scheme

DZ BANK is a member of the BVR Institutssicherung GmbH and the Protection Scheme of the National Association of German Cooperative Banks (Sicherungseinrichtung des Bundesverbandes der Deutschen Volksbanken und Raiffeisenbanken e.V.- BVR).

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Disclaimer

The rating information we have compiled constitute publicly accessible information. We have merely chosen to publish them on our website as an additional service for our shareholders and investors. Any explanation of the significance of a rating may be obtained only from the rating agency. These reports do not necessarily represent the opinion of DZ BANK, nor should they be seen as a recommendation to buy securities issued by DZ BANK. DZ BANK accepts no liability for the completeness, timeliness, accuracy or selection of such information.