FRANKFURT, Germany, August 26, 2015 /PRNewswire/ --
- Significant growth in customer business
- Net income from interest, fees and commissions as well as trading rises
- Positive earnings forecast
- Cross reference: Full press release is available at http://www.presseportal.de/nr/55060 -
In the first half of 2015 Helaba achieved earnings before tax in an amount of EUR 362 million, a result which was thus significantly above last year's very good level of EUR 322 million. After allowing for income taxes, Group earnings amounted to EUR 237 million, representing an increase of 9.7 per cent over the same period in the previous year.
Helaba's Chief Executive, Hans-Dieter Brenner, views the result very positively: "The Helaba Group's earnings position reflects the strength of our operating business with customers. Notwithstanding the low level of interest rates and mounting competition, we were able to achieve sufficient margins from a further rise in new business. Accordingly, we once again managed to expand all revenue positions on our P&L, despite starting from the high-water mark of 2014. In addition, this positive trend in earnings benefitted from a decline in general administration costs. The result before tax is thus also above that of last year."
In respect of the earnings forecast for the year as a whole, Helaba's CEO strikes a similarly optimistic note: "In view of the earnings level we had reached by the middle of the year and against the backdrop of a successful start to the second half of the year, I am optimistic that we will be able to achieve our projected result with ease, thereby seamlessly building on the previous year's very good performance."
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SOURCE HELABA Landesbank Hessen-Thueringen