WGZ BANK copes with fallout from sovereign debt crisis

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "WGZ BANK copes with fallout from sovereign debt crisis"

Transcription

1 Press release WGZ BANK copes with fallout from sovereign debt crisis WGZ BANK's 2011 operating profit is second highest in its history Negative impact of European sovereign debt crisis is completely absorbed by operating profit Tier 1 capital ratio of WGZ BANK Group rises to 10.4% Reserves increase again; dividend remains at a high level Positive start to 2012: stable revenue and significant reversals of impairment losses in government bond portfolio Düsseldorf, March 27, Despite the challenging and highly competitive conditions, WGZ BANK proved its capability and resilience in The bank achieved the second highest operating profit in its history, building on the strong figure it had reported in the previous year. WGZ BANK has boosted its reserves every single year since 1998 and it is again proposing to pay shareholders a high dividend this year. In its annual financial statements prepared in accordance with regulatory requirements and the German Commercial Code (HGB), WGZ BANK generated an operating profit of million before the second-best operating profit in the company's history. WGZ BANK Dr. Frank Schweizer-Nürnberg Press spokesperson Tel.: +49 (0) Ludwig-Erhard-Allee 20 Cell: +49 (0) Düsseldorf, Germany Fax: +49 (0)

2 Net income declined to 50.1 million owing to the negative impact of the European sovereign debt crisis. Based on International Financial Reporting Standards (IFRS), the WGZ BANK Group reported a net loss of million due to the strict marking to market of WL BANK's portfolio of government bonds classified at fair value. If the bank had selected a different measurement category, as many other banks had done, the WGZ BANK Group would have reported a net profit under IFRS too. "WGZ BANK remains in a strong position", said Werner Böhnke, Chief Executive Officer of WGZ BANK. "All the key parameters are within the positive to very positive range. The indicators continue to point upward in every area of our business that we have been and are able to influence. Our costs remain under control, as evidenced by the cost/income ratio of 43 percent. Our customers are satisfied with us and our business is performing well. We are a byword for continuity and reliability. Last year, we generated the second highest operating profit in our history. That is an exceptional achievement considering the year was dominated by the fiasco in Greece, a high degree of mistrust in banks, and the spiraling sovereign debt crisis. We are more than satisfied with the financial results for our core business." The total equity reported by the WGZ BANK Group decreased from 3.1 billion to 2.7 billion largely owing to the deconsolidation of WGZ BANK Luxembourg. Nevertheless, the relevant key figures remain sound. The total capital ratio as defined by the Solvency Regulation (SolvV) came to 12.4 percent, while the Tier 1 capital ratio increased to 10.4 percent. This Tier 1 capital consists solely of core Tier 1 capital: share capital, reserves, and the fund for general banking risks. It does not contain any hybrid capital instruments, such as dormant capital contributions or Tier 1 bonds that are no longer recognized as Tier 1 capital under Basel III. With this quantity and quality of Tier 1 capital, the bank believes it is well equipped for the future even under Basel III. WGZ BANK Page 2 of 10

3 "WGZ BANK achieved impressive financial results across all its business lines in the first two months of 2012", said Böhnke, talking about the year so far. "Our collaboration, both with our member banks and our small and medium-sized corporate customers, continues to show encouraging signs of growth. We are also seeing positive results in the WGZ BANK Group, not least because there have now been significant write-ups in WL BANK's portfolio of government bonds. Although the first quarter results are not yet available, we already know that the WGZ BANK Group will be able to report very pleasing figures. We have significantly improved on the results achieved in the first quarter of last year." These developments enable the bank to look ahead to the rest of 2012 with optimism. "The state of the German economy makes us confident about the year as a whole. We believe that, thanks to our strong position with our customers and in our markets, we will be able to continue on the same excellent trajectory of 2009 and 2010", continued Böhnke. He emphasized, however, that the high levels of government debt in many western industrialized nations continue to pose a significant challenge for the individual national economies, the single European currency, and the entire financial services sector. Doubts about the reliability of political decisions and, consequently, about the stability of key market parameters demand even greater vigilance and caution across large swathes of the business. WGZ BANK Page 3 of 10

4 WGZ BANK's results of operations for 2011 under HGB Net interest income rose. Whereas the profit contribution made by maturity transformation decreased in line with expectations owing to the market situation, there were increases in the net interest margin contributions from the various business segments especially corporate banking, which is continuing to expand. Current income went up, too. Net fee and commission income also continued to rise. This was attributable to equally strong growth in revenues from derivatives transactions, payments processing and lending operations on the back of a significant expansion in business volumes. This trend is further proof of the continuous improvement in WGZ BANK's operational strength. The fall in net trading income needs to be seen in the context of the tough capital market conditions and the exceptionally high figure reported for When viewed in the round, the performance of net trading income is encouraging. Administrative expenses increased only slightly in This was the first time that they included the cost of the bank levy ( 9.1 million). In addition, staff expenses rose by 4.5 percent owing to normal salary increases and an expansion in the workforce. Excluding the cost of the bank levy, administrative expenses would have fallen year on year. Operating profit before allowances for losses on loans and advances declined by 12.2 percent compared with the record year of 2010 to million. This was the second highest operating profit in the company's entire history. A positive figure was reported for allowances for losses on loans and advances in 2011, which was attributable to a one-off item. As part of the stress test conducted by the European Banking Authority (EBA) in the spring of 2011, million was reclassified from the reserves set aside pursuant to section 340f HGB and transferred to the fund for general banking risks in accordance with section 340g HGB. This ensured that the un- WGZ BANK Page 4 of 10

5 limited option available under German law to use the section 340f HGB reserves to offset potential losses was also recognized in the EBA stress test. This reclassification of reserves must be shown on the face of the income statement under HGB and is therefore recognized as a reversal of allowances for losses on loans and advances. As an addition to the fund for general banking risks, however, it also has an adverse impact on the net income earned from other business. Overall the reclassification did not have any net impact on income. Excluding this one-off item, the 'real' figure for allowances for losses on loans and advances came to 51.7 million. The good quality of customers in the corporate customer portfolio meant that only comparatively small impairment losses had to be recognized on loans and advances. Price corrections on securities portfolios had the greatest impact on allowances for losses on loans and advances. Operating profit after allowances for losses on loans and advances rose to million as a result of the one-off item described above. Excluding this effect, it amounted to million. Various one-off factors impacted on the net income earned from other business. While extraordinary income of million was received from the merger between WGZ BANK Luxembourg and DZ PRIVATBANK, losses of 280 million were transferred to WGZ BANK under the control and profit transfer agreement signed with WL BANK in These losses at WL BANK related to impairment losses amounting to 75 percent of the par value of Greek government bonds held. This line item also included an impairment loss on the long-term equity investment in Volksbank International (VBI), which is a subsidiary of Österreichische Volksbanken-AG (ÖVAG). This equity investment has now been partly sold. Furthermore, this item included the aforementioned transfer of million in reclassified reserves to the fund for general banking risks. WGZ BANK Page 5 of 10

6 Another highly attractive dividend The Advisory Council, Supervisory Board, and Board of Managing Directors of WGZ BANK will propose to the Annual General Meeting on June 19, 2012 that a dividend of 5.75 per share with a par value of 100 be paid. This would constitute a total dividend payout of 37.4 million. It would also enable WGZ BANK to transfer 12.7 million to its revenue reserves. Tier 1 capital in the 2011 annual financial statements would then be strengthened by more than 150 million in total. WGZ BANK Group's financial performance in 2011 under IFRS As was the case with WGZ BANK's separate financial statements, the rise in net interest income was attributable to higher net interest margin contributions and current income, whereas the maturity structure contributions declined owing to lower interest rates and the flat yield curve. Allowances for losses on loans and advances fell significantly in the WGZ BANK Group as well. The main reasons for this trend were the economic recovery and the accompanying improvement in the situation of small and medium-sized corporate customers. The net fee and commission income earned by the WGZ BANK Group fell. This was largely attributable to WGZ BANK Luxembourg, whose financial results have no longer been consolidated as part of the WGZ BANK Group's income statement since the middle of 2011 because it merged with DZ PRIVATBANK. Moreover, WL BANK always reports negative net fee and commission income from its agency and brokerage business with the member banks. Fee and commission expense rose in this business because the partner banks stepped up the agency and brokerage activities that they perform for WL BANK. The increase in losses on trading activities mainly related to WL BANK. As the WGZ BANK Group's mortgage bank that specializes in covered WGZ BANK Page 6 of 10

7 bonds, it also holds European government bonds. These securities are almost exclusively classified and measured at fair value, which has resulted in huge temporary impairment losses owing to the severe escalation of the European sovereign debt crisis. The impairment losses recognized on Greek government bonds as part of the agreed 'haircut' and the accompanying final losses are also predominantly included under this item. The WGZ BANK Group's administrative expenses remained virtually unchanged. Excluding the cost of the bank levy, which was incurred for the first time and amounted to 11.3 million for the group, administrative expenses would have fallen year on year. WGZ BANK in demand as a business partner and employer The trend is encouraging across all of WGZ BANK's business lines. The cooperative financial network defended its position as market leader in SME development lending in the North Rhine-Westphalia region. In the two high-volume development programs, entrepreneur loans and renewable energies, the group secured a market share of 48 percent and 50 percent respectively. WGZ BANK further strengthened its close partnership with small and medium-sized enterprises. In 2011, it extended new loans with a volume of around 3 billion, of which 900 million was accounted for by real-estate loans. The volume of the loan portfolio grew by 10 percent to 7.4 billion. A new record was set of almost 300 new corporate customers. Business with the local cooperative banks was also stepped up significantly. Loans to member banks advanced by 5.3 percent to 15.5 billion. The deposits of member banks grew by an even more impressive 8.3 percent to 12.8 billion. Böhnke believes that WGZ BANK and the cooperative financial network as a whole are well placed: "We managed to consolidate and improve our position in the markets and with our customers despite the difficult environ- WGZ BANK Page 7 of 10

8 ment. We acquired numerous new customers in 2011 and are more popular than ever as a partner in the capital markets." WGZ BANK is also an attractive and respected employer, receiving more than 6,000 applications from potential candidates in 2011 alone. "We offer job security and good prospects for the future. That is not always the case nowadays, especially in Düsseldorf's financial sector", stated Böhnke. WGZ BANK Page 8 of 10

9 WGZ BANK's results of operations under HGB 2010 million 2011 million Change (%) Net interest income Net fee and commission income Net trading income Other net operating income Administrative expenses Operating profit before allowances for losses on loans and advances Allowances for losses on loans and advances >+100 Operating profit after allowances for losses on loans and advances >+100 Net income from other business <-100 Taxes Net income Cost/income ratio (%) WGZ BANK Group's financial performance under IFRS 2010 million 2011 million Change (%) Net interest income Allowances for losses on loans and advances Net fee and commission income Gains and losses on trading activities >+100 Gains and losses on investments <-100 Share of profit (loss) of equity-accounted investments Gains and losses arising on hedging transactions Administrative expenses Other net operating income >+100 Profit/loss before taxes <-100 Taxes <-100 Net profit/loss <-100 WGZ BANK Page 9 of 10

10 WGZ BANK Page 10 of 10

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:

More information

CONSOLIDATED RESULTS AS AT 30 JUNE 2012

CONSOLIDATED RESULTS AS AT 30 JUNE 2012 CONSOLIDATED RESULTS AS AT 30 JUNE 2012 THE IMPLEMENTATION OF THE PROJECT TO SIMPLIFY THE GROUP CORPORATE STRUCTURE CONTINUES, WITH POSITIVE EFFECTS ON CAPITAL AND SYNERGIES FURTHER IMPROVEMENT IN THE

More information

Press Release. Major Elements of the Consolidated Accounts. Balance Sheet

Press Release. Major Elements of the Consolidated Accounts. Balance Sheet Presse und Kommunikation MAIN TOWER Neue Mainzer Straße 52-58 60311 Frankfurt am Main www.helaba.de Tel.: +49 (0) 69 / 9132 2192 Wolfgang Kuß E-Mail: wolfgang.kuss@helaba.de Ursula-Brita Krück E-Mail:

More information

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend

Commerzbank: Strategy successful net profit of over 1 billion euros and dividend IR release 12 February 2016 Commerzbank: Strategy successful net profit of over 1 billion euros and dividend Operating profit in 2015 more than doubled to EUR 1,909 m (2014: EUR 689 m) Operating profit

More information

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015

Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Press release For business desks 7 May 2015 Commerzbank: Operating profit more than doubled to EUR 685 m in the first quarter of 2015 Revenues before loan loss provisions in the Group increased year-on-year

More information

Bank Austria IR Release

Bank Austria IR Release Bank Austria IR Release Günther Stromenger +43 (0) 50505 57232 Vienna, 12 February 2015 Preliminary results 1 for the 2014 financial year: Bank Austria posts net profit of about EUR 1.4 billion Sound operating

More information

Third Quarter 2014 Financial Results

Third Quarter 2014 Financial Results Third Quarter 2014 Financial Results Core pre-provision income up by 8.0% in the third quarter 2014. Operating expenses further down by 3.7% q-o-q and 11.4% y-o-y on a comparable basis. Accelerated provisioning

More information

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects

Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Press release For business desks 7 November 2013 Commerzbank: operating profit of EUR 103 m in third quarter Revenues before loan loss provisions almost stable at EUR 2.3 bn despite seasonal effects Annual

More information

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2011

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2011 ING GROUP Condensed consolidated interim financial information for the period ended 30 June 2011 Contents Interim Report Interim Report 3 Conformity statement 14 Condensed consolidated interim accounts

More information

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Warsaw, February 12, 2015 Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Legal basis: Art. 5 section 1 item 25) of the Ordinance

More information

Interim Financial Report 2015

Interim Financial Report 2015 Interim Financial Report 2015 ABN AMRO Bank N.V. Notes to the reader Introduction This is the Interim Financial Report for the year 2015 of ABN AMRO Bank N.V. (ABN AMRO Bank). ABN AMRO Bank N.V. is a wholly

More information

First Half 2014 Taiwan Life Insurance Market Overview

First Half 2014 Taiwan Life Insurance Market Overview First Half 2014 Taiwan Life Insurance Market Overview I. Life Insurance Industry Business and Financial Overview A. Business Statistical Overview The life insurance industry in Taiwan delivered NTD1,340.5

More information

Consolidated Nine-month Report of Baader Bank AG as of 30 September 2012

Consolidated Nine-month Report of Baader Bank AG as of 30 September 2012 Consolidated Nine-month Report of Baader Bank AG as of 30 September 2012 Overview of key figures EARNINGS 1 Jan. - 30 Sept. 2012 1 Jan. - 30 Sept. 2011 Change % Net interest income thou. 4.06 4.66-13.0

More information

Sydbank s preliminary announcement of 2006 annual results

Sydbank s preliminary announcement of 2006 annual results Copenhagen Stock Exchange London Stock Exchange Bourse de Luxembourg Other stakeholders Stock Exchange Announcement No 01/07 Group Executive Management Peberlyk 4 PO Box 1038 DK-6200 Aabenraa Tel +45 74

More information

Press release. National Bank releases its results for the second quarter of 2009. the SECOND quarter of 2009 (1) :

Press release. National Bank releases its results for the second quarter of 2009. the SECOND quarter of 2009 (1) : Press release SECOND quarter 2009 National Bank releases its results for the second quarter of 2009 The financial information in this press release is based on the unaudited interim consolidated financial

More information

Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft 7 February 2013 Deutsche Bank Aktiengesellschaft Fourth Supplemental Registration Document Pursuant to Art. 5 (3) of the Directive 2003/71/EC and 12 (1) 3 German Securities Prospectus Act (Wertpapierprospektgesetz)

More information

Press release Outside trading hours - Regulated information*

Press release Outside trading hours - Regulated information* Press release Outside trading hours - Regulated information* Brussels, 6 August 2015 (07.00 a.m. CEST) First half of 2015 generates a firm 1.2 billion euros of profit. Liquidity and capital bases remain

More information

Postbank Group Interim Management Statement as of September 30, 2013

Postbank Group Interim Management Statement as of September 30, 2013 Postbank Group Interim Management Statement as of September 30, 2013 Preliminary Remarks Macroeconomic Development Business Performance Preliminary Remarks This document is an interim management statement

More information

Balance sheet structure absorbed adverse PSI+ effect

Balance sheet structure absorbed adverse PSI+ effect Full Year 2011 Results Participation in PSI+ 1 leads to additional impairment of Euro 3.2 billion Core Tier I at Euro 1.3 billion 2 post PSI+ related impairment Balance sheet structure absorbed adverse

More information

Investor Relations Release

Investor Relations Release Release 29 August 2011 BayernLB Interim Report 2011: Stable earnings trend in customer business continues in the second quarter Earnings before taxes of EUR 244 million in H1 2011 are generated entirely

More information

Frankfurt am Main 27 April 2010. Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion

Frankfurt am Main 27 April 2010. Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion Release Frankfurt am Main 27 April 2010 Deutsche Bank reports first quarter 2010 net income of EUR 1.8 billion Net revenues of EUR 9.0 billion, up 24% Second best quarterly income before income taxes of

More information

FOURTH SUPPLEMENT TO THE BASE PROSPECTUS IN RESPECT OF THE STRUCTURED PRODUCTS PROGRAMME FOR THE ISSUANCE OF NOTES ABN AMRO BANK N.V.

FOURTH SUPPLEMENT TO THE BASE PROSPECTUS IN RESPECT OF THE STRUCTURED PRODUCTS PROGRAMME FOR THE ISSUANCE OF NOTES ABN AMRO BANK N.V. 27 June FOURTH SUPPLEMENT TO THE BASE PROSPECTUS IN RESPECT OF THE STRUCTURED PRODUCTS PROGRAMME FOR THE ISSUANCE OF NOTES ABN AMRO BANK N.V. (Registered at Amsterdam, The Netherlands) ABN AMRO Structured

More information

HSBC BANK CANADA FIRST QUARTER 2014 RESULTS

HSBC BANK CANADA FIRST QUARTER 2014 RESULTS 7 May 2014 HSBC BANK CANADA FIRST QUARTER 2014 RESULTS Profit before income tax expense for the quarter ended 2014 was C$233m, a decrease of 13.4% compared with the same period in and broadly unchanged

More information

METRO GROUP increases sales 2012 in a challenging consumer environment

METRO GROUP increases sales 2012 in a challenging consumer environment METRO GROUP increases sales in a challenging consumer environment Sales rose by 1.2% to 66.7 billion (adjusted for portfolio measures: +2.3%); EBIT before special items reached around 2.0 billion Operating

More information

Preliminary Financial Results of Alpha Bank Cyprus Ltd for the year 2015 Please find attached the relevant announcement.

Preliminary Financial Results of Alpha Bank Cyprus Ltd for the year 2015 Please find attached the relevant announcement. 0114/00014990/en Indicative Results Alpha Bank Ltd Preliminary Financial Results of Alpha Bank Cyprus Ltd for the year 2015 Please find attached the relevant announcement. ABCY Attachment: 1. Preliminary

More information

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011 QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER Media telephone conference 8 November Agenda Overview Financial highlights Jörg Schneider 2 Munich Re (Group) Jörg Schneider 4 Torsten Oletzky 13 Torsten

More information

Speech delivered at the AGM 2011

Speech delivered at the AGM 2011 Stefan Jütte Chairman of the Management Board Annual General Meeting Deutsche Postbank AG Frankfurt am Main, May 24, 2011 Check against delivery Dear shareholders, dear shareholder representatives, dear

More information

BAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45%

BAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45% BAWAG P.S.K. REPORTS RECORD NET PROFIT OF EUR 333 MILLION, +45% Net profit EUR 333 million, +45% versus prior year Return on equity 14.9%, +3.3pts Core revenues EUR 890 million, +16% Operating expenses

More information

DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016

DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016 DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016 Frankfurt/Main, 12 May 2016 During the first three months of 2016, DVB Bank SE (ISIN DE0008045501) generated

More information

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion

Frankfurt am Main 29 April 2014. Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Release Frankfurt am Main 29 April 2014 Deutsche Bank reports first quarter 2014 income before income taxes of EUR 1.7 billion Group results Income before income taxes (IBIT) of EUR 1.7 billion, down 30%

More information

2013 Annual Results. D. Francisco Gómez Martín CEO. Madrid, January 31 st, 2014

2013 Annual Results. D. Francisco Gómez Martín CEO. Madrid, January 31 st, 2014 2013 Annual Results D. Francisco Gómez Martín CEO Madrid, January 31 st, 2014 Disclaimer This presentation has been prepared by Banco Popular Español solely for purposes of information. It may contain

More information

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 PRELIMINARY REMARKS MACROECONOMIC DEVELOPMENT BUSINESS PERFORMANCE PRELIMINARY REMARKS This document is an interim management statement

More information

GOLDMAN SACHS REPORTS THIRD QUARTER EARNINGS PER COMMON SHARE OF $2.90

GOLDMAN SACHS REPORTS THIRD QUARTER EARNINGS PER COMMON SHARE OF $2.90 The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS THIRD QUARTER EARNINGS PER COMMON SHARE OF $2.90 NEW YORK, October 15, 2015 - The Goldman Sachs Group, Inc.

More information

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE

More information

Interim Management Statement for the period from 1 January 2012 to 17 May 2012

Interim Management Statement for the period from 1 January 2012 to 17 May 2012 Chesnara plc Interim Management Statement Chesnara plc Interim Management Statement for the period from 1 January 2012 to 17 May 2012 18 May 2012 Increase in EEV to 312.7m (at ) from 294.5m (at year end),

More information

Announcement of Financial Results 1999. for. Den Danske Bank Group

Announcement of Financial Results 1999. for. Den Danske Bank Group Announcement of Financial Results 1999 for Den Danske Bank Group 2 Den Danske Bank Group Highlights Core earnings and net profit for the year (DKr million) 1999 1998 1997 1996 1995 Net interest income,

More information

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009

Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Interim Abbreviated Consolidated Financial Statements of Fortis Bank Polska SA Capital Group for 3 Quarters of 2009 Table of Contents 1. Financial Highlights 3 2. Consolidated Financial Statements of Fortis

More information

Check against delivery. Hans Dieter Pötsch Speech at the Annual Media Conference and Investor Conference on March 13, 2014.

Check against delivery. Hans Dieter Pötsch Speech at the Annual Media Conference and Investor Conference on March 13, 2014. Check against delivery Hans Dieter Pötsch Speech at the Annual Media Conference and Investor Conference on March 13, 2014 Part II Good morning, Ladies and Gentlemen, I, too, would like to wish you a very

More information

(April 1, 2015 June 30, 2015)

(April 1, 2015 June 30, 2015) Financial Results Summary of Consolidated Financial Results For the Three-month Period Ended June 30, 2015 (IFRS basis) (April 1, 2015 June 30, 2015) *This document is an English translation of materials

More information

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Interim report as at 31 March 2014 Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Fielmann Aktiengesellschaft Group interim report as at 31

More information

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING PRESS RELEASE GENERAL SHAREHOLDERS MEETING Ana Botín: Santander is well positioned to face the challenges. We will lead change Banco Santander has room for growth within our customer base and in our ten

More information

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million

Frankfurt am Main 26 April 2015. Deutsche Bank reports first quarter 2015 net income of EUR 559 million Release Frankfurt am Main 26 April 2015 Deutsche Bank reports first quarter 2015 net income of EUR 559 million Group results Income before income taxes (IBIT) of EUR 1.5 billion, a decrease of 12% from

More information

News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President and Treasurer Phone: (229) 873-3830 gkirkland@sgfc.

News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President and Treasurer Phone: (229) 873-3830 gkirkland@sgfc. Southwest Georgia Financial Corporation 201 First Street S.E. Moultrie, GA 31768 PH: (229) 985-1120 FX: (229) 985-0251 News Release INVESTOR AND MEDIA CONTACT: George R. Kirkland Senior Vice President

More information

Press release Outside trading hours - Regulated information*

Press release Outside trading hours - Regulated information* Press release Outside trading hours - Regulated information* Brussels, 16 November 2015 (07.00 a.m. CET) KBC 3Q2015: Strong quarterly profit of 600 million euros Excellent 1.8 billion euros of profit for

More information

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet 7 Events after the balance sheet date 8 Income statement

More information

Unaudited Nine Months Financial Report

Unaudited Nine Months Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Nine Months Financial Report January to September 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Nine

More information

GOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014

GOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014 The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS EARNINGS PER COMMON SHARE OF $17.07 FOR 2014 FOURTH QUARTER EARNINGS PER COMMON SHARE WERE $4.38 NEW YORK, January

More information

Key figures as of June 30, 2013 1st half

Key figures as of June 30, 2013 1st half Never standing still. Interim Report as of June 30, 2013 Contents 2 Key figures as of June 30, 2013 1st half 3 Key figures as of June 30, 2013 2nd quarter 6 Strong revenue growth 12 Consolidated interim

More information

Brookfield financial Review q2 2010

Brookfield financial Review q2 2010 Brookfield financial Review q2 2010 Overview Operating cash flow and gains totalled $327 million in the second quarter or $0.53 per share compared to $294 million in the prior year. This brings operating

More information

Financial Data Supplement 2Q2013

Financial Data Supplement 2Q2013 Deutsche Bank Financial Data Supplement 2Q2013 30 July 2013 1 2 2Q2013 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Group Core Bank Non-Core Operations Unit 3 Consolidated Statement

More information

Bank Austria posts net profit of EUR 350 million for the first quarter

Bank Austria posts net profit of EUR 350 million for the first quarter Bank Austria IR Release Günther Stromenger +43 (0) 50505 57232 Vienna, 13 May 2014 Results for the first quarter of 2014: Bank Austria posts net profit of EUR 350 million for the first quarter Sound commercial

More information

PRESS RELEASE. Board of Directors approves results as of December 31 2014

PRESS RELEASE. Board of Directors approves results as of December 31 2014 PRESS RELEASE Board of Directors approves results as of December 31 2014 SOGEFI (CIR GROUP): REVENUES AT OVER 1.3 BLN (+1.1%; +4.7% AT SAME EXCHANGE RATES), NET INCOME AT 3.6 MLN MARGINS LOWER BECAUSE

More information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim

More information

Analyst Meeting Materials

Analyst Meeting Materials Azbil Corporation RIC: 6845.T, Sedol: 6985543 Analyst Meeting Materials For the Third Quarter of the Fiscal Year Ending March 31, 2016 (Based on Japanese GAAP) Human-centered Automation 1. Financial

More information

Pohjola Bank plc s Interim Report for 1 January 30 September 2011

Pohjola Bank plc s Interim Report for 1 January 30 September 2011 Pohjola Bank plc s Interim Report for 1 January 30 September Q3 Pohjola Bank plc Stock exchange release, 2 November, 8.00 am Interim Report Pohjola Group Performance for January September Consolidated

More information

CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011

CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011 CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011 Santiago, Chile, CORPBANCA (NYSE: BCA), a Chilean financial institution offering a wide variety of

More information

JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005

JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005 JAN LIDÉN S ADDRESS TO FÖRENINGSSPARBANKEN S ANNUAL GENERAL MEETING IN STOCKHOLM APRIL 21, 2005 Dear shareholders, ladies and gentlemen, FöreningsSparbanken is currently the most profitable bank in the

More information

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP)

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) November 1, 2012 Sony Financial Holdings Inc. Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) Tokyo, November 1, 2012

More information

Taiwan Life Insurance Report 2011

Taiwan Life Insurance Report 2011 一 Business Overview of the Industry ( 一 )Business Overview Taiwan Life Insurance Report 2011 The Taiwan life insurance sector reported TWD 2,198.2 billion in premium income in 2011, down by 4.96% when

More information

Income statement, 5-year summary Q1, 2013

Income statement, 5-year summary Q1, 2013 00B 0B, 5-year summary Financial information, Group, Group FY FY FY FY FY SEKm 2012 2) 2011 2010 1) 2009 2008 Net interest income 1) 20 361 19 014 16 228 20 765 21 702 Net commission income 1) 9 614 9

More information

Highlights of Annual Report January December 2014

Highlights of Annual Report January December 2014 Highlights of Annual Report January December HIGHLIGHTS OF ANNUAL REPORT PRESS RELEASE 4 February 2015 Highlights of Handelsbanken s Annual Report Highlights JANUARY DECEMBER of Handelsbanken s Annual

More information

PRESS RELEASE. Loyal customers grew by 1.2 million, to 13.8 million, and digitally active customers by 2.5 million, to 16.6 million.

PRESS RELEASE. Loyal customers grew by 1.2 million, to 13.8 million, and digitally active customers by 2.5 million, to 16.6 million. 2015 RESULTS Banco Santander delivers on its targets and earns EUR 5.966 million (+3%), with strong underlying performance of 13% based on increasing customer satisfaction and loyalty PRESS RELEASE In

More information

Quarterly result of 738m Profit guidance for 2014 to be exceeded slightly

Quarterly result of 738m Profit guidance for 2014 to be exceeded slightly Munich, 06 November Quarterly result of 738m Profit guidance for to be exceeded slightly Contact Media Relations Munich, Johanna Weber Tel.: +49 (89) 3891-2695 Fax: +49 (89) 3891-72695 jweber@munichre.com

More information

2014/2015 The IndusTrIal Group

2014/2015 The IndusTrIal Group Q1 2014/2015 Interim Report 1 April to 30 june 2014 The Industrial Group The essentials at a glance in the first quarter Big increase in incoming orders, sales on par with previous year, earnings considerably

More information

Press release. LBBW improves half-year result. 25 August 2015

Press release. LBBW improves half-year result. 25 August 2015 Christian Potthoff Head of Communications Landesbank Baden-Württemberg Am Hauptbahnhof 2 70173 Stuttgart Telephone +49 711 127-73946 Fax +49 711 127-74861 Christian.Potthoff@LBBW.de www.lbbw.de LBBW improves

More information

NEWS RELEASE BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME OF $1.9 MILLION, OR $0.40 PER DILUTED SHARE SERIES A PREFERRED STOCK TO BE REDEEMED

NEWS RELEASE BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME OF $1.9 MILLION, OR $0.40 PER DILUTED SHARE SERIES A PREFERRED STOCK TO BE REDEEMED NEWS RELEASE FOR FURTHER INFORMATION: WEBSITE: www.bnccorp.com TIMOTHY J. FRANZ, CEO TELEPHONE: (612) 305-2213 DANIEL COLLINS, CFO TELEPHONE: (612) 305-2210 BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME

More information

BMW Group Corporate and Governmental Affairs

BMW Group Corporate and Governmental Affairs BMW Group Corporate and Governmental Affairs Media Information 18 March 2009 - Check against delivery - Statement by Dr. Friedrich Eichiner Member of the Board of Management of BMW AG, Finance Annual Accounts

More information

Financial Data Supplement 4Q2011

Financial Data Supplement 4Q2011 Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interest

More information

Talanx generates solid growth in 2014

Talanx generates solid growth in 2014 Talanx generates solid growth in 2014 Gross written premiums up 3.0 percent at EUR 29.0 billion EBIT rises to EUR 1.9 billion (+7.1 percent) Group net income improves by 5.0 percent to EUR 769 million

More information

THIRD QUARTER 2004 QUARTERLY REPORT FOR THE PERIOD ENDED JULY 31, 2004

THIRD QUARTER 2004 QUARTERLY REPORT FOR THE PERIOD ENDED JULY 31, 2004 THIRD QUARTER 2004 QUARTERLY REPORT FOR THE PERIOD ENDED JULY 31, 2004 Report to shareholders Laurentian Bank of Canada reports net income of $13.7 million for the third quarter of 2004 SUMMARY RESULTS

More information

Quarterly Statement Three-Month Results

Quarterly Statement Three-Month Results Quarterly Statement Three-Month Results 2016 Key events and transactions 2 DVB posts reasonable consolidated net income before taxes for the first quarter of 2016 During the first three months of 2016,

More information

Interim Report as at 30 September 2012

Interim Report as at 30 September 2012 Q3/ 2012 Interim Report as at 30 September 2012 Key figures Income statement 1.1. 30.9.2012 1.1. 30.9.2011 Operating profit ( m) 1,251 344 Operating profit per share ( ) 0.20 0.12 Pre-tax profit/loss (

More information

Interim Statements Three-Month Results

Interim Statements Three-Month Results Interim Statements Three-Month Results 2015 Substantial events and deals 2 DVB Bank posts strong results for the first quarter of 2015 DVB more than doubled consolidated net income, from 33.9 million to

More information

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc.

The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC Holdings plc. We only advise on our own life assurance, pensions and unit trusts The following is the text of an announcement made today by HSBC Bank Malta p.l.c., a 70.03 per cent indirectly held subsidiary of HSBC

More information

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 Press Release Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 BUSINESS. Deposits were stable at EUR 607,836 million, while mutual funds grew by 14% to EUR 93,304 million. Loans decreased

More information

Consolidated Half-Year Report of Baader Bank AG as at 30.06.2014

Consolidated Half-Year Report of Baader Bank AG as at 30.06.2014 Consolidated Half-Year Report of Baader Bank AG as at 30.06.2014 OVERVIEW OF KEY FIGURES RESULTS OF OPERATIONS 01.01-30.06.2014 01.01-30.06.2013 Change in % Net interest income thousand 1,017 1,991-48.9

More information

Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results

Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results News Release Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results San Francisco, The Federal Home Loan Bank of San Francisco today announced that its net income for the second

More information

Pfeiffer Vacuum announces results for FY 2014

Pfeiffer Vacuum announces results for FY 2014 PRESS RELEASE Pfeiffer Vacuum announces results for FY 2014 Total sales of 406,6 million EBIT margin at 11,0 percent Dividend proposal of 2.65 euros Asslar, Germany, March 26, 2015. Total sales for FY

More information

BANCO SANTANDER CHILE ANNOUNCES RESULTS FOR THE FOURTH QUARTER 2002

BANCO SANTANDER CHILE ANNOUNCES RESULTS FOR THE FOURTH QUARTER 2002 Banco Santander Chile CONTACTS: Raimundo Monge Robert Moreno Desirée Soulodre Banco Santander Chile Banco Santander Chile Banco Santander Chile 562-320-8505 562-320-8284 562-647-6474 BANCO SANTANDER CHILE

More information

The Effects of Funding Costs and Risk on Banks Lending Rates

The Effects of Funding Costs and Risk on Banks Lending Rates The Effects of Funding Costs and Risk on Banks Lending Rates Daniel Fabbro and Mark Hack* After falling for over a decade, the major banks net interest margins appear to have stabilised in a relatively

More information

NIBC Bank underlying net profit almost doubles to EUR 42 million in 2014

NIBC Bank underlying net profit almost doubles to EUR 42 million in 2014 PRESS RELEASE The Hague, 4 March 2015 NIBC Bank underlying net profit almost doubles to EUR 42 million in 2014 Continued underlying growth driven by strong demand from both corporate and consumer clients

More information

BANCA SISTEMA GROWING ACROSS ALL BUSINESS LINES WITH A NET INCOME UP BY 21% YoY 1

BANCA SISTEMA GROWING ACROSS ALL BUSINESS LINES WITH A NET INCOME UP BY 21% YoY 1 PRESS RELEASE BANCA SISTEMA GROWING ACROSS ALL BUSINESS LINES WITH A NET INCOME UP BY 21% YoY 1 Business performance Factoring: turnover +20% yoy and growing customer base from 124 in 2014 to 294 in 2015

More information

FINANCIAL REVIEW AND REPORTS Comerica Incorporated and Subsidiaries Financial Results and Key Corporate Initiatives

FINANCIAL REVIEW AND REPORTS Comerica Incorporated and Subsidiaries Financial Results and Key Corporate Initiatives FINANCIAL REVIEW AND REPORTS Financial Results and Key Corporate Initiatives ************************************************ 23 Overview/Earnings Performance *************************************************************

More information

Alm. Brand A/S H1 2010 Conference call

Alm. Brand A/S H1 2010 Conference call Alm. Brand A/S H1 2010 Conference call 1 Alm. Brand Three business areas Non-life insurance 4th largest in DK 400,000 customers* 200,000 pluskunder* Banking 65,000 customers* Supports non-life Life insurance

More information

CANADIAN TIRE BANK. BASEL PILLAR 3 DISCLOSURES December 31, 2014 (unaudited)

CANADIAN TIRE BANK. BASEL PILLAR 3 DISCLOSURES December 31, 2014 (unaudited) (unaudited) 1. SCOPE OF APPLICATION Basis of preparation This document represents the Basel Pillar 3 disclosures for Canadian Tire Bank ( the Bank ) and is unaudited. The Basel Pillar 3 disclosures included

More information

THE EMPIRE LIFE INSURANCE COMPANY

THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the nine months ended September 30, 2013 Unaudited Issue Date: November 6, 2013 These condensed interim consolidated

More information

Taiwan Life Insurance Market Report for First Half of 2013

Taiwan Life Insurance Market Report for First Half of 2013 Taiwan Life Insurance Market Report for First Half of 2013 I. Life Insurance Financial and Business Overview A. Business Statistics and Overview In the first half of 2013, Taiwan life insurance companies

More information

CITIGROUP REPORTS FOURTH QUARTER 2011 NET INCOME OF $1.2 BILLION OR $0.38 PER SHARE 1, COMPARED TO $1.3 BILLION OR $0.43 IN FOURTH QUARTER 2010

CITIGROUP REPORTS FOURTH QUARTER 2011 NET INCOME OF $1.2 BILLION OR $0.38 PER SHARE 1, COMPARED TO $1.3 BILLION OR $0.43 IN FOURTH QUARTER 2010 On February 9, 2012, Citi announced an adjustment to its fourth quarter and full year 2011 financial results to reflect an additional $209 million of after-tax ($275 million pre-tax) charges to increase

More information

THE GOLDMAN SACHS GROUP, INC. (Exact name of registrant as specified in its charter)

THE GOLDMAN SACHS GROUP, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event

More information

INTERIM REPORT. Q1 2015 (unaudited)

INTERIM REPORT. Q1 2015 (unaudited) INTERIM REPORT Q1 2015 (unaudited) Key figures FIGURES IN NOK 000s INCOME STATEMENT Profit/loss after taxation 29 446 32 079 112 243 Net interest margin 1,53 % 1,81 % 1,64 % Profit/loss after tax as a

More information

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT Ahlers AG, Herford ISIN DE0005009708 and DE0005009732 on the first nine months of fiscal 2005/06 (December 1, 2005, to August 31, 2006) BUSINESS DEVELOPMENT IN THE FIRST NINE MONTHS OF FISCAL 2005/06 According

More information

I know it s a busy day as HSBC are also reporting. and we re doing the same again today. with the equivalent period in 2008

I know it s a busy day as HSBC are also reporting. and we re doing the same again today. with the equivalent period in 2008 Barclays Interim Management Statement 10 November 2009 Chris Lucas Good morning and thanks for joining us I know it s a busy day as HSBC are also reporting so I m going to talk for about fifteen minutes

More information

Definition of Capital

Definition of Capital Definition of Capital Capital serves as a buffer to absorb unexpected losses as well as to fund ongoing activities of the firm. A number of substantial changes have been made to the minimum level of capital

More information

Now, I would like to start the financial results presentation of our group for the six months ended September 2012. As usual, I will go over the

Now, I would like to start the financial results presentation of our group for the six months ended September 2012. As usual, I will go over the Now, I would like to start the financial results presentation of our group for the six months ended September 2012. As usual, I will go over the presentation material, followed by Q&A. Please turn to page

More information

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2012

ING GROUP. Condensed consolidated interim financial information for the period ended 30 June 2012 ING GROUP Condensed consolidated interim financial information for the period ended 30 June 2012 Contents Interim report Interim report 3 Conformity statement 14 Condensed consolidated interim accounts

More information

The Empire Life Insurance Company

The Empire Life Insurance Company The Empire Life Insurance Company Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2015 Unaudited Issue Date: August 7, 2015 DRAFT NOTICE OF NO AUDITOR REVIEW OF CONDENSED

More information

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Date: 27 August 2015 For information: mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Growth of 20% in net result, excluding non-recurring items, to EUR 8.3

More information

Oldenburgische Landesbank Group Interim Management Report as of March 31, 2010

Oldenburgische Landesbank Group Interim Management Report as of March 31, 2010 Oldenburgische Landesbank Group Interim Management Report as of March 31, 2010 03 / 2010 002 The OLB Group at a Glance as of March 31, 2010 The OLB Group at a Glance as of March 31, 2010 EUR m 3 / 31 /

More information

Talanx posts a pleasing first quarter

Talanx posts a pleasing first quarter Talanx posts a pleasing first quarter Gross written premiums up 12.2 percent in first quarter at EUR 9.4 (8.4) billion EBIT improves by 16.1 percent to EUR 643 (554) million Group net income rises 16.2

More information

Consolidated Financial Report of Baader Bank AG for the Nine-Month Period ended 09/30/2015

Consolidated Financial Report of Baader Bank AG for the Nine-Month Period ended 09/30/2015 Consolidated Financial Report of Baader Bank AG for the Nine-Month Period ended 09/30/2015 KEY FIGURES FINANCIAL PERFORMANCE 01/01-09/30/2015 01/01-09/30/2014 Change in % Net interest income EUR 000 24

More information