EQS-News

DenizBank AG with excellent operating result for 2023

Issuer: DENIZBANK AG / Key word(s): Annual Results DenizBank AG with excellent operating result for 2023 29.03.2024 / 09:37 CET/CEST The issuer is solely responsible for the content of this announcement.

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• DenizBank AG recorded a strong operating result for 2023 of EUR 154.2 million. This represents an increase of more than 61% compared to the previous year.
• Net interest income rose by more than 54% to EUR 193.7m.
• The cost/income ratio was reduced by almost a third year-on-year to 25.31% compared to the year before (36,29%), confirming the bank's improved cost structure and increased efficiency.
• The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared to the previous year (4,14%)

DenizBank AG was founded in 1996. As a universal bank, it is subject to the Austrian banking law and is a member of the statutory deposit guarantee scheme for the deposit insurance of Einlagensicherung AUSTRIA GmbH.

In addition to its digital services, DenizBank AG operates 11 branches in Austria and 3 branches in Germany – it is part of the DenizBank Financial Services Group, which since 2019 has been owned by the Emirates NBD Group.

The Emirates NBD Group's network comprises locations in 13 countries. The Group is among the top 30 in the Forbes list of "World's Best Regarded Companies", securing a leading position among global brands.

Strong financial year
Denizbank AG closed the 2023 financial year successfully. Despite the ongoing challenges in the global economy, the bank achieved impressive financial results.

Net interest income increased by EUR 67.97 million or more than 54% to EUR 193.67 million compared to the previous year.

DenizBank AG's operating result increased to EUR 154.24 million, more than 61% compared to 2022 (previous year: EUR 95.58 million).

Total assets at the end of 2023 amounted to EUR 5.64 billion.

The cost-income ratio was reduced by almost a third to 25.31% compared to the previous year (36.29%), which demonstrates the bank's improved cost structure and increased efficiency.

The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared to the previous year (4,14%) further confirming DenizBank AG’s strong profitability.