|
30.11.2015 17:30:01
|
DGAP-News: IKB Deutsche Industriebank AG
DGAP-News: IKB Deutsche Industriebank AG: Figures for the first half of the financial year 2015/16
- CET 1 ratio increased further
- Leverage ratio at high level
- Administrative expenses reduced
[Düsseldorf, 30 November 2015] IKB Deutsche Industriebank AG generated consolidated net income of EUR 23 million in the first six months of the financial year 2015/16 (1 April to 30 September 2015). The CET 1 ratio increased to 11.3% as at 30 September 2015. The leverage ratio amounted to 8.9%, while the liquidity coverage ratio was 335%.
The consolidated income statement for the first half of 2015/16 is as follows:
Table: IKB consolidated income statement in accordance with the German Commercial Code (HGB)
1 Apr. 2015 to 1 Apr. 2014 to 30 Sep. in EUR million 30 Sep. 2015 2014 Change Net interest and lease 142 131 10 income Net fee and commission 14 17 -2 income Net trading income 0 2 -1 Administrative expenses -143 -154 11 Personnel expenses -90 -88 -2 Other administrative -53 -65 12 expenses Net other income -8 117 -125 Net risk provisioning 14 -24 38 Tax income/expenses 4 -16 20 Consolidated net income 23 73 -50
Some totals may be subject to discrepancies due to rounding differences.
Net interest and lease income in the Group amounted to EUR 142 million in the period under review (first half of 2014/15: EUR 131 million). The increase was largely due to lower refinancing costs. Despite intense competition, the Group's new business volume increased by EUR 0.5 billion year-on-year to EUR 1.8 billion in the first half of the financial year 2015/16. In its lending activity, IKB is maintaining its standards in respect to appropriate conditions and acceptable risks.
The Group recorded net fee and commission income of EUR 14 million (EUR 17 million). This development was primarily attributable to the fact that, unlike in the comparative prior-year period, structuring and syndication income was increasingly reported in net interest income rather than in net fee and commission income in the first half of the financial year 2015/16.
Administrative expenses in the Group declined to EUR 143 million in the period under review (EUR 154 million). The prior-year figure included a higher level of audit and consulting expenses for the ECB comprehensive assessment. In addition, expenses for IT and project consulting were reduced and deposit protection expenses decreased as against the previous year.
Net other income fell to EUR -8 million (EUR 117 million). The main reason for this development: The measurement and sale of long-term investments and close-out payments in connection with the strategic early dissolution of derivative transactions in the banking book resulted in reduced net income of EUR 26 million (EUR 92 million).
Net risk provisioning improved to EUR +14 million compared with the first half of the financial year 2014/15 (EUR -24 million). IKB sees the development of credit risk as a sign of the extremely positive sentiment among German companies at present.
Net tax income amounted to EUR 4 million in the period under review after tax expenses of EUR 16 million in the same period of the previous year.
The Group's total assets amounted to EUR 20.7 billion at the reporting date (31 March 2015: EUR 22.4 billion). The CET 1 ratio amounted to 11.3% (10.9%), meaning that IKB exceeded the statutory minimum requirement (CRR) of 4.5% for the CET 1 ratio. Applying the Basel III provisions in full results in a "fully loaded" CET 1 ratio of 10.3% as at 30 September 2015 (10.0%).
Applying the transitional provisions for 2014, the leverage ratio of the IKB Group in accordance with Article 429 CRR amounted to 8.9% as at 30 September 2015 (8.5%), thereby exceeding the frequently cited benchmark of 3.0%. The liquidity coverage ratio amounted to 335% as at 30 September 2015 (273%). A minimum requirement of 60% has been in place since 1 October 2015.
The possibility that future EBA/ECB standards and interpretations or other supervisory actions could lead to a retrospective change in the regulatory ratios cannot be ruled out.
Outlook
IKB generated positive earnings in the first six months of the current financial year. On this basis, it expects to generate positive net income after taxes and before additions to the fund for general banking risks (section 340g HGB) for the financial year 2015/16 as a whole as planned. This net income is expected to be slightly higher than in the financial year 2014/15. Should profits be accumulated by IKB AG, IKB intends to transfer them to the fund for general banking risks in accordance with section 340g HGB as at the end of the financial year.
Servicing the compensation agreements of a total amount of EUR 1,151.5 million and the value recovery rights of the hybrid investors mean that IKB AG will probably not report any, or only minimal, profit for a long time to come, even if results are positive. In addition, to the extent that net income can be reported in future, the reduction of net accumulated losses means that it will not be possible to distribute a dividend to the shareholders of IKB AG.
Further details on developments in the first half of 2015/16 can be found in the 6-Month Report 2015/16 at https://www.ikb.de/en/investor-relations/financial-reports.
Contact: Dr Jörg Chittka, tel.: +49 211 8221-4349; Armin Baltzer, tel.: +49 211 8221-6236, e-mail: presse@ikb.de
IKB Deutsche Industriebank AG supports medium-sized enterprises in Germany and Europe with loans, risk management, capital market services and advisory services.
---------------------------------------------------------------------------
30.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English Company: IKB Deutsche Industriebank AG Wilhelm-Bötzkes-Straße 1 40474 Düsseldorf Germany Phone: +49 (0)211 8221-4511 Fax: +49 (0)211 8221-2511 E-mail: investor.relations@ikb.de Internet: www.ikb.de ISIN: DE0008063306 WKN: 806330 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
419589 30.11.2015
DGAP-News: IKB Deutsche Industriebank AG / Key word(s): Half Year Results
IKB Deutsche Industriebank AG: Figures for the first half of the financial
year 2015/16
30.11.2015 / 17:30
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
IKB Deutsche Industriebank:
Figures for the first half of the financial year 2015/16
- Positive consolidated net income
- CET 1 ratio increased further
- Leverage ratio at high level
- Administrative expenses reduced
[Düsseldorf, 30 November 2015] IKB Deutsche Industriebank AG generated consolidated net income of EUR 23 million in the first six months of the financial year 2015/16 (1 April to 30 September 2015). The CET 1 ratio increased to 11.3% as at 30 September 2015. The leverage ratio amounted to 8.9%, while the liquidity coverage ratio was 335%.
The consolidated income statement for the first half of 2015/16 is as follows:
Table: IKB consolidated income statement in accordance with the German Commercial Code (HGB)
1 Apr. 2015 to 1 Apr. 2014 to 30 Sep. in EUR million 30 Sep. 2015 2014 Change Net interest and lease 142 131 10 income Net fee and commission 14 17 -2 income Net trading income 0 2 -1 Administrative expenses -143 -154 11 Personnel expenses -90 -88 -2 Other administrative -53 -65 12 expenses Net other income -8 117 -125 Net risk provisioning 14 -24 38 Tax income/expenses 4 -16 20 Consolidated net income 23 73 -50
Some totals may be subject to discrepancies due to rounding differences.
Net interest and lease income in the Group amounted to EUR 142 million in the period under review (first half of 2014/15: EUR 131 million). The increase was largely due to lower refinancing costs. Despite intense competition, the Group's new business volume increased by EUR 0.5 billion year-on-year to EUR 1.8 billion in the first half of the financial year 2015/16. In its lending activity, IKB is maintaining its standards in respect to appropriate conditions and acceptable risks.
The Group recorded net fee and commission income of EUR 14 million (EUR 17 million). This development was primarily attributable to the fact that, unlike in the comparative prior-year period, structuring and syndication income was increasingly reported in net interest income rather than in net fee and commission income in the first half of the financial year 2015/16.
Administrative expenses in the Group declined to EUR 143 million in the period under review (EUR 154 million). The prior-year figure included a higher level of audit and consulting expenses for the ECB comprehensive assessment. In addition, expenses for IT and project consulting were reduced and deposit protection expenses decreased as against the previous year.
Net other income fell to EUR -8 million (EUR 117 million). The main reason for this development: The measurement and sale of long-term investments and close-out payments in connection with the strategic early dissolution of derivative transactions in the banking book resulted in reduced net income of EUR 26 million (EUR 92 million).
Net risk provisioning improved to EUR +14 million compared with the first half of the financial year 2014/15 (EUR -24 million). IKB sees the development of credit risk as a sign of the extremely positive sentiment among German companies at present.
Net tax income amounted to EUR 4 million in the period under review after tax expenses of EUR 16 million in the same period of the previous year.
The Group's total assets amounted to EUR 20.7 billion at the reporting date (31 March 2015: EUR 22.4 billion). The CET 1 ratio amounted to 11.3% (10.9%), meaning that IKB exceeded the statutory minimum requirement (CRR) of 4.5% for the CET 1 ratio. Applying the Basel III provisions in full results in a "fully loaded" CET 1 ratio of 10.3% as at 30 September 2015 (10.0%).
Applying the transitional provisions for 2014, the leverage ratio of the IKB Group in accordance with Article 429 CRR amounted to 8.9% as at 30 September 2015 (8.5%), thereby exceeding the frequently cited benchmark of 3.0%. The liquidity coverage ratio amounted to 335% as at 30 September 2015 (273%). A minimum requirement of 60% has been in place since 1 October 2015.
The possibility that future EBA/ECB standards and interpretations or other supervisory actions could lead to a retrospective change in the regulatory ratios cannot be ruled out.
Outlook
IKB generated positive earnings in the first six months of the current financial year. On this basis, it expects to generate positive net income after taxes and before additions to the fund for general banking risks (section 340g HGB) for the financial year 2015/16 as a whole as planned. This net income is expected to be slightly higher than in the financial year 2014/15. Should profits be accumulated by IKB AG, IKB intends to transfer them to the fund for general banking risks in accordance with section 340g HGB as at the end of the financial year.
Servicing the compensation agreements of a total amount of EUR 1,151.5 million and the value recovery rights of the hybrid investors mean that IKB AG will probably not report any, or only minimal, profit for a long time to come, even if results are positive. In addition, to the extent that net income can be reported in future, the reduction of net accumulated losses means that it will not be possible to distribute a dividend to the shareholders of IKB AG.
Further details on developments in the first half of 2015/16 can be found in the 6-Month Report 2015/16 at https://www.ikb.de/en/investor-relations/financial-reports.
Contact: Dr Jörg Chittka, tel.: +49 211 8221-4349; Armin Baltzer, tel.: +49 211 8221-6236, e-mail: presse@ikb.de
IKB Deutsche Industriebank AG supports medium-sized enterprises in Germany and Europe with loans, risk management, capital market services and advisory services.
---------------------------------------------------------------------------
30.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English Company: IKB Deutsche Industriebank AG Wilhelm-Bötzkes-Straße 1 40474 Düsseldorf Germany Phone: +49 (0)211 8221-4511 Fax: +49 (0)211 8221-2511 E-mail: investor.relations@ikb.de Internet: www.ikb.de ISIN: DE0008063306 WKN: 806330 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
419589 30.11.2015
Der finanzen.at Ratgeber für Aktien!
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu IKB Deutsche Industriebank AGmehr Nachrichten
Analysen zu IKB Deutsche Industriebank AGmehr Analysen
Nachrichten
ETF-Sparplan
Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.