Equity

Total shareholder’s equity increased from EUR 1,638 million at the end of 2008 to EUR 1,696 million at the end of 2009. The EUR 58 million increase mainly stems from the net profit attributable to parent shareholders of EUR 44 million. No dividends were paid to the parent shareholder in either 2008 or 2009.

The Tier-1 ratio remained at a strong level of 16.2% in 2009 (2008: 16.6%). This is well above the minimum Tier-1 requirement of 4% and illustrates the strength of the bank’s capital structure. The BIS ratio also remained at a strong level of 18.4% (2008: 18.9%).