BAYERNVEREIN EXPECTS UNCHANGED DIVIDEND FOR 1987 Bayerische Vereinsbank AG <BVMG.F> expects to pay an unchanged dividend of 13 marks on 1987 earnings but profits will only barely reach last year's record levels, management board spokesman Maximilian Hackl said. He told the annual news conference that possible credit risks, especially those associated with foreign nations, had largely been covered. Risk provisions in 1987 were therefore unlikely to reach the same high level as in 1986. Group bank net profit rose to 275.52 mln marks in 1986 from 222.73 mln the previous year and parent bank net profit increased to 187.63 mln marks from 161.58 mln. Hackl said that interest margins in the banking business had declined to 2.71 pct last year from 2.78 pct the previous year. But in the mortgage sector, the margins had increased slightly and stood around 0.7 pct. Parent bank commission surplus in the securities business had risen almost 15 pct to 358 mln marks in 1986. Expenses for personnel had increased 7.5 pct to 782 mln marks and others costs had increased 9.4 pct to 272 mln marks. The parent bank's 1986 partial operating profit, which excludes earnings from trading on its own account, had climbed two pct to 671 mln marks. The parent bank's balance sheet total rose 5.3 pct to 81.5 billion marks at end-1986 compared with end-1985, Hackl said. It was boosted by a three billion mark rise in mortgage business and a 1.1 billion mark increase in banking business. The mortgage sector's share in total parent bank business volume rose to 46 pct from 45. Hackl said that in January and February this year, the bank's credit business had not livened up. But despite the sharp downturn on German bourses, profits from trading on own account had increased in the first two 1987 months compared with the same year-ago period. He gave no detailed figures.