Annual Report

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QUIRIN PRIVATBANK AG

WKN: 520230 / ISIN: DE 0005202303

31 December 2021

Key figures

Annual net profit

Total capital ratio

€12.1 m

25.3%

Equity capital

Share price on 31.12.2021

€68 m

€4.50

Balance sheet total assets

Number of employees

€540 m

250

Shareholders

Berliner Effektengesellschaft AG

.%

Riedel Gruppe

.%

Management Board of Quirin Privatbank AG

%

Diversified holdings

.%

2021-Growing

TOGETHER

Annual Report 2021

Growing

Together

Contents

1 Growing Together

  1. Foreword by the Management Board
  1. 2021 - a record year

2 Management Report

  1. Underlying economic conditions
  2. Positioning of the Bank
  1. Business development
  1. Risk report
  1. Opportunities and forecast report

3 Annual Financial Statements 2021

68 Balance sheet

  1. Profit and loss account
  1. Annex

4 Additional Information

98 Auditor's report

  1. Report of the Supervisory Board
  1. Locations/Contact /Imprint

5

Annual Report 2021

Growing

Together

Chapter 1

Growing Together

8 Foreword by the Management Board

14 2021 - a record year

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7

Annual Report 2021

Growing

Together

KARL MATTHÄUS SCHMIDT

Chairman of the Management Board,

Quirin Privatbank AG

JOHANNES EISMANN

and founder of quirion

CFO/Board Member, Capital Markets,

Quirin Privatbank AG

Dear Shareholders, Clients,

Business Partners and

Friends of Quirin Privatbank,

Shortly before the publication of the annual report, in February of this year, Russia invaded Ukraine. This was a great shock that affected us deeply, both at a personal level and as the Management Board of this Bank. We hope that the war will be brought to a rapid conclusion.

Amid the unimaginable suffering that has been inflicted on the people af- fected, if one spark of hope can be distinguished it must be that the Russian invasion has sparked a wave of international solidarity of unprecedented magnitude. People are helping each other, offering complete strangers a place to sleep, companies are cutting red tape to put in place free transport and communication lines. Around the globe, citizens are demonstrating against the war and the western world is drawing closer than ever before.

This solidarity is vital because only by standing together and standing up for our liberal values will we be able to weather this grave crisis together. "Together" is the keyword, and not only in this situation, but for every other crisis as well. We can only stop climate change together, we can only halt a pandemic together, we can only stand up to the dictators of this world together - the major challenges of our times, on both a large and small scale, can only be tackled together.

Togetherness was long planned as the leitmotif of this annual report. We had no idea that it would assume such relevance in the present situation. Although in the current circumstances there are far more important topics of discussion than that of company figures, it is our duty as a public holding company to publish the annual report. Normally, reporting on the past financial year would have been a particular pleasure, but within the space of a few weeks the world has changed beyond conception and has cast a cloud over our pleasure in our business success. Still we are proud that together with our digital subsidiary quirion, with our clients and business partners and our shareholders, we have made 2021 the most successful year since the foundation of Quirin Privatbank.

Growing together

Our success is also owed to all our colleagues who have worked tirelessly together in close cooperation and to the fact that despite ongoing restrictions due to Covid-19 especially in the first half of the year, we did not duck our responsibilities, but remained focused, stood firm and steadfastly pursued our goals. These are qualities that are needed in crises and they are more relevant now than ever. These are qualities that Quirin Privatbank possesses in abundance.

We too have drawn closer together. Sharing the same DNA, Quirin Privat- bank and quirion are growing ever closer together and cooperating more than ever before. The Bank focuses primarily on its financial expertise and

Together

for freedom

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quirin Privatbank AG published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 14:23:06 UTC.