Implicit support from owners as the central mutual-fund asset manager for the German savings banks sector Strong albeit weakened market position in the German mutual funds business Stable flow of commission income from the asset management business Sound quality of loan portfolio Below-average performance at some flagship mutual funds with ongoing outflows Remaining exposures to the difficult German real estate market weighs on risk profile, but portfolio sales transactions are regarded as likely Modest franchise, profitability, and outlook of its wholesale banking business Reliance on wholesale funding The counterparty credit ratings on Germany-based DekaBank Deutsche Girozentrale (DekaBank) continue to be based on the expectation of ongoing implicit support from its owners, savings banks and Landesbanks, as Standard&Poor's Rating
