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    GLJ   DE000A161N30

GRENKE AG

(GLJ)
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Grenke : Disclosure Report 31.12.2020

06/18/2021 | 07:03am EDT

2020

FOR THE GRENKE­ GROUP PURSUANT TO ARTICLES 431 THROUGH 455 OF REGULATION (EU) NO. 575/2013

DISCLOSURE REPORT

1

GRENKE GROUP  // DISCLOSURE REPORT 2020

TABLE OF CONTENTS

4 // 1. Scope of application

  1. // 2. Regulatory scope of consolidation
  1. // 3. Own funds
  1. // 4. Countercyclical capital buffer

16 // 5. Information on risk management 16 // 5.1 Risk management

16 // 5.2 Risk-bearing capacity

17 // 5.2.1 Stress tests

18 // 5.3 Governing bodies

  1. // 5.3.1 Supervisory board
  1. // 5.3.2 Board of directors
  2. // 5.3.3 Number of management and supervisory functions held by members of the management body
  3. // 5.3.4 Strategy for the selection of members of the management­body
  4. // 5.3.5 Diversity strategy for the selection of members of the management body
  1. // 5.3.6 Risk committee and number of supervisory board meetings
  1. // 5.3.7 Information flow to the management body

21 // 5.4 Statements by the management body

  1. // 5.4.1 Statement on the adequacy of risk management procedures
  1. // 5.4.2 Concise risk declaration

22 // 6. Risk management of individual risk types

22 // 6.1 Credit risk

  1. // 6.1.1 Information on the structure of the loan portfolio
  1. // 6.1.2 Leasing segment
  1. // 6.1.3 Banking segment
  1. // 6.1.4 Factoring segment
  1. // 6.1.5 Deferral agreements
  1. // 6.1.6 Non-performing and past due receivables
  2. // 6.1.7 Counterparty default risk
  3. // 6.1.8 Utilisation of ECAI
  1. // 6.1.9 Investments

2

GRENKE GROUP  // DISCLOSURE REPORT 2020

35 // 6.2 Market risk

  1. // 6.2.1 Interest rate risk
  1. // 6.2.2 Currency risks

36 // 6.3 Liquidity risk

36 // 6.3.1 Short-term liquidity management

  1. // 6.3.2 Medium and long-term liquidity management
  2. // 6.3.3 Liquidity coverage ratio

38 // 6.4 Operational risk

38 // 6.4.1 Risk management

39 // 6.5 Other risks

  1. // 7. Encumbered and unencumbered assets
  2. // 8. Remuneration policy

40 // 8.1 GRENKE's remuneration strategy

  1. // 8.3 Composition and structure of the grenke remuneration system
  1. // 8.4 Remuneration of the consolidated group's board of directors
  2. // 8.5 Remuneration systems of institutions subject­ to financial supervision
  3. // 8.6 Remuneration of employees by business area of the grenke group
  1. // 8.7 Remuneration of the supervisory board

48 // 8.7.1 External consultants

49 // 9. Leverage

52 // List of tables

53 // Glossar

3

GRENKE GROUP  // DISCLOSURE REPORT 2020

1. Scope of application

The publication of this disclosure report as of the reporting date of December 31, 2020 is made in accordance with the regulatory requirements of the Basel III framework of Regulation (EU) No. 575/2013 (CRR) Articles 431 to 455, which came into force on January 1, 2014.

In 2009, the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) granted ­GRENKE AG permission to derive the regulatory scope of consolidation from the scope of consolidation used in the consolidated financial statements under commercial law. The group of companies taken into account thus includes all companies with a direct majority shareholding in Germany and abroad as well as potentially controlled parts of companies without a direct shareholding. In the course of coordinating with BaFin at the time regarding the scope of consolidation, it was agreed that changes to the scope of consolidation, such as those made in the reporting year through the integration of the franchise companies, would be reported to BaFin without delay.

­GRENKE AG is the parent company of a group of institutions as defined by Sections 10a and 25a of the German Banking Act (Kreditwesengesetz - KWG), which means that the ­GRENKE AG Group is also a financial holding company in accordance with Section 1 (35) KWG in conjunction with Article 4 (1) No. 20 of the Capital Requirements Regulation

(CRR). The GRENKE­ Group also has a credit institution as a subsidiary, GRENKE­ BANK AG. Both the GRENKE­ Group and ­GRENKE BANK AG are subject to the regulatory provisions of CRR and the Capital Requirements Directive (CRD IV) as well as KWG.

In addition to the GRENKE­ Group and GRENKE­ BANK AG, the financial services institutions GRENKEFACTORING­

Table 1: Subsidiaries and structured entities

GmbH and ­GRENKE Investitionen Verwaltungs KGaA are also subject to the requirements of KWG and supervision of BaFin and the Deutsche Bundesbank at the level of individual institutions. For these financial services institutions, ­GRENKE AG has made use of the waiver regulation in accordance with Section 2 a (1) or (2) KWG in conjunction with Section 2 a (5) KWG.

2. Regulatory scope of consolidation

The following table provides an overview of the fully consolidated companies in the GRENKE­ AG Group's scope of consolidation under commercial and regulatory law as of the end of financial years 2020 and 2019. In the reporting year, a reassessment of the criteria for defining the scope of consolidation under commercial law as defined by IFRS 10 was made for franchise companies that were not previously consolidated. Due to this reassessment, the franchise companies are now considered controlled companies and are therefore fully consolidated. As a result, the 13 currently existing franchise companies have now been retroactively included in GRENKE­ AG's scope of consolidation under commercial law and therefore within the scope of consolidation under regulatory law from the commencement of business operations. In addition, a memorandum of understanding

was concluded between GRENKE­ AG and the financial investors of the franchise companies in December 2020, under which the parties agreed that the shares of all franchise companies shall be acquired by December 31, 2021. The distinction made in previous years between the GRENKE­ Consolidated Group, i.e. ­GRENKE AG including its subsidiaries and the structured entities, and the GRENKE­ Group, defined as the Consolidated Group including the franchise partners, was rendered obsolete by the full consolidation of the franchise companies.

Equity

Equity

interest

interest

Dec. 31, 2020

Dec. 31, 2019

Name

Registered office

in %

in %

DOMESTIC

GRENKE­

Service AG

Baden-Baden

100 

100 

GRENKE­

Investitionen Verwaltungs Kommanditgesellschaft auf Aktien

Baden-Baden

100 

100 

GRENKE­

BANK AG

Baden-Baden

100 

100 

GRENKEFACTORING GmbH

Baden-Baden

100 

100 

GRENKE­

Business Solutions GmbH Co. KG

Baden-Baden

100 

100 

GRENKE­

MANAGEMENT SERVICES GmbH

Baden-Baden

100 

100 

GRENKE­

digital GmbH

Karlsruhe

100 

100 

4

GRENKE GROUP  // DISCLOSURE REPORT 2020

Equity

Equity

interest

interest

Dec. 31, 2020

Dec. 31, 2019

Name

Registered office

in %

in %

INTERNATIONAL

GRENKELEASING s.r.o.

Prague / Czechia

100 

100 

GRENKE­

ALQUILER S.L.

Barcelona / Spain

100 

100 

Grenkefinance N.V.

Vianen / Netherlands

100 

100 

GRENKE­

RENT S.L.

Madrid / Spain

100 

100 

GRENKELEASING AG

Zurich / Switzerland

100 

100 

GRENKELEASING GmbH

Vienna / Austria

100 

100 

GRENKELEASING ApS

Herlev / Denmark

100 

100 

GRENKE LIMITED

Dublin / Ireland

100 

100 

GRENKE­

Finance Plc.

Dublin / Ireland

100 

100 

GRENKE­

LOCATION SAS

Schiltigheim / France

100 

100 

GRENKE­

Locazione S.r.l.

Milan / Italy

100 

100 

GRENKELEASING AB

Stockholm / Sweden

100 

100 

GRENKE­

LEASE SRL / BV

Brussels / Belgium

100 

100 

Grenke Leasing Ltd.

Guildford / Great Britain

100 

100 

GRENKELEASING Sp.z.o.o.

Poznan / Poland

100 

100 

GRENKELEASING­

Magyarország Kft.

Budapest / Hungary

100 

100 

Grenke Renting S.R.L.

Bucharest / Romania

100 

100 

GRENKE­

RENTING S.A.

Lisbon / Portugal

100 

100 

GRENKELEASING s.r.o.

Bratislava / Slovakia

100 

100 

GRENKELEASING Oy

Vantaa / Finland

100 

100 

GRENKELOCATION SARL

Munsbach / Luxembourg

100 

100 

GRENKEFACTORING AG

Basel / Switzerland

100 

100 

GRENKELEASING d.o.o.

Ljubljana / Slovenia

100 

100 

GRENKE­

Kiralama Ltd Sti.

Istanbul / Turkey

100 

100 

GRENKE­

RENTING LTD.

Sliema / Malta

100 

100 

GC Locação de Equipamentos LTDA.

São Paulo / Brazil

100 

100 

GRENKE­

LOCAÇÃO DE EQUIPAMENTOS LTDA.

São Paulo / Brazil

100 

100 

GC Leasing Middle East FZCO

Dubai / UAE

100 

100 

GRENKE­

Hrvatska d.o.o.

Zagreb / Croatia

100 

100 

FCT "GK"-COMPARTMENT "G2"

Pantin / France

100

100

FCT "GK"-COMPARTMENT "G3"

Pantin / France

0

0

FCT "GK"-COMPARTMENT "G4"

Pantin / France

100

100

Opusalpha Purchaser II Limited

Dublin / Ireland

0

0

Kebnekaise Funding Limited

St. Helier / Jersey

0

0

CORAL PURCHASING (IRELAND) DAC

Dublin / Ireland

0

0

GF Faktor Zrt.

Budapest / Hungary

0

0

GC Factoring Ltd.

London / Great Britain

0

0

GC Crédit-Bail Québec Inc.

Montréal / Canada

0

0

GC Leasing Ontario Inc.

Toronto / Canada

0

0

GL Leasing British Columbia Inc.

Vancouver / Canada

0

0

GC Rent Chile SpA

Santiago de Chile / Chile

0

0

GC Lease Singapore Pte Ltd

Singapore / Singapore

0

0

GC Factoring Ireland Limited

Dublin / Ireland

0

0

GC LEASING MELBOURNE PTY LTD

Melbourne / Australia

0

0

GC LEASING SYDNEY PTY LTD

Sydney / Australia

0

0

GC Faktoring Polska Sp.z.o.o.

Poznan / Poland

0

0

SIA GC Leasing Baltic

Riga / Latvia

0

0

GC Leasing AZ L.L.C.

Phoenix / USA

0

0

5

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Disclaimer

Grenke AG published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 11:02:01 UTC.


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