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IKB Deutsche Industriebank AG: Results for the 2016/17 financial year

DGAP-News: IKB Deutsche Industriebank AG / Key word(s): Final Results IKB Deutsche Industriebank AG: Results for the 2016/17 financial year 09.06.2017 / 08:00 The issuer is solely responsible for the content of this announcement. IKB Deutsche Industriebank: Results for the 2016/17 financial year

- Consolidated net income rises to EUR 26 million

- New business expands by EUR 0.5 billion to EUR 4.2 billion

- Total net interest and net fee and commission income increases to EUR 17 million

- Administrative expenses down by EUR 16 million

- Non-strategic portfolio reduced to EUR 0.3 billion

- Common equity tier 1 ratio (CET 1) stable at high level of 11.7%

 

[Düsseldorf, 9 June 2017] IKB Deutsche Industriebank AG generated consolidated net income of EUR 26 million in the 2016/17 financial year (1 April 2016 to 31 March 2017). The common equity tier 1 ratio (CET 1) of 11.7% for the Group was slightly up compared to the previous year's level, thereby significantly exceeding regulatory requirements; the figure for the CET 1 ratio fully loaded was 11.1% as at 31 March 2017. The leverage ratio remained high at 8.0% and the liquidity coverage ratio was 328%.

IKB is thus reporting its fourth positive annual result in a row, confirming the sustainable profitability of its business model. Income was increased while at the same time costs were reduced in the 2016/17 financial year. IKB has a solid equity position and ample liquidity.

The growth trend in new business with Mittelstand companies has continued. The new business volume increased by 13% year-on-year to EUR 4.2 billion in the 2016/17 financial year. Parallel to this, the non-strategic portfolio was reduced further to currently EUR 0.3 billion (31 March 2016: EUR 1.4 billion).

IKB maintained its risk-adequate pricing. Net risk provisioning therefore made a positive contribution to results of EUR 17 million, and the ratio of non-performing assets to credit exposure more than halved to 1.1% as against 2.6% as at 31 March 2016.