HSH Nordbank posts pre-tax profit of € 460 million

Banking, Finance, News, Reports, Shipfinance, Statistics, Stock Markets — By on December 12, 2014 at 10:53 AM
Constantin von Oesterreich,

Constantin von Oesterreich,

 

  • Earnings and business trend on target
  • New business up 43 percent to € 7 million.
  • Drivers are Real Estate Clients and Energy & Infrastructure
  • Stable new business margins with good risk profiles
  • CET1 capital ratio at 12.5 percent
  • Von Oesterreich: “Our next objective is the successful conclusion of the EU state aid proceedings”

 

HAMBURG/KIEL In the first nine months of 2014 HSH Nordbank posted a Group net
income well in excess of the pre-year figure. The performance in the core areas of business
and the substantial reduction of legacy assets underscore the progress made by the Bank in
implementing its business model.

New business was increased as planned. In addition to
this, income from sales of securities and equity holdings as well as a marked decrease in
costs had a favourable impact on the result. The principal positive effect came from the
capital protection clause, which – following heavy charges resulting from guarantee premiums
in the previous years – led, as expected, to a partial reversal of the guarantee premiums
with an effect on income in the first nine months of 2014. Net income before taxes increased
to € 460 million as at 30 September 2014. This equates to an increase of € 555 million compared
to the pre-year nine-month result (pre-year period: € -95 million). Net income after
taxes improved to € 333 million (pre-year period: € -66 million).

Viewers can log on herebelow and read the entire report:

20141212 PR Results 9M 2014

Tags:

Leave a Reply

IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

What is 3 + 13 ?
Please leave these two fields as-is:

Trackbacks

Leave a Trackback