EQS-News

Results of IKB Deutsche Industriebank AG for the first half of 2023: solid corporate customer business in a demanding environment

EQS-News: IKB Deutsche Industriebank AG / Key word(s): Half Year Results Results of IKB Deutsche Industriebank AG for the first half of 2023: solid corporate customer business in a demanding environment 18.08.2023 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Results of IKB Deutsche Industriebank AG for the first half of 2023: solid corporate customer business in a demanding environment

 

• Consolidated net income before tax improved to €36 million
• Return on equity (RoE) after tax increased to 7.9%
• Administrative expenses of €77 million slightly below prior year
• Cost/income ratio (CIR) of 66% (normalised: 57%)
• Resilient loan book: risk provisions of €12 million and NPL ratio (EBA definition) of 1.8%
• CET 1 ratio (fully phased) of 15.7%
• Comfortable liquidity position with free available liquidity reserve of €1.3 billion
• Leverage ratio (fully phased) of 6.4%
• Dr Michael Wiedmann, Chairman of the Board of Managing Directors of IKB: "Business with our mid-cap corporate customers developed well in the first half of 2023. We're on track to hitting our targets for the full financial year."

 

 

[Düsseldorf, 18 August 2023] In the first half of 2023, IKB improved its key earnings figures in a challenging market environment. With consolidated net income before tax of €36 million (prior year: €30 million) the bank achieved a good result. The return on equity (RoE) increased to 7.9% (prior year: 6.2%) and the cost income ratio (CIR) improved to 66% (prior year: 72%). While new business focussed on good credit ratings, a slight decline in administrative expenses and significantly higher net interest income had a positive effect on business performance. Consolidated net income before tax for the first six months of the 2023 financial year was in line with the guidance for the full year (about €60 million).