FRANKFURT, Germany, March 21, 2019 /PRNewswire/ --
- Consolidated net profit before tax of EUR 443 million at previous year's level
- Sharp growth in new business in second half of the year
- Risk situation remains positive thanks to good portfolio quality
- Very stable CET1 ratio of 14.9 percent
- Renewed increase in general and administrative expenses, particularly due to regulatory costs
- Consolidated net profit before tax in 2019 expected to remain at same level as 2018
In the 2018 financial year, Helaba achieved an IFRS consolidated profit before tax of EUR 443 million. The consolidated profit after tax amounted to EUR 278 million. Pre-tax earnings were thus on the same level of the previous year of EUR 447 million and slightly higher than the 2017 result of EUR 256 million after tax. Helaba therefore achieved a satisfactory result in the context of a challenging market environment.
"Thanks to a strong second half in 2018, we were once again able to demonstrate our excellent market position. In 2018, we systematically reinforced our business model with various initiatives, including the acquisition of Deutsche Verkehrsbank's land transport portfolio and Dexia Kommunalbank Deutschland. In addition, we are making good progress with our digitalisation initiatives - customer portals for our corporate and real estate customers have met with a positive response and komuno, our digital platform for municipal loans, has got off to a successful start," emphasises Herbert Hans Grüntker, Chairman of Helaba's Board of Managing Directors.
Full release available at http://ots.de/CC1Afp.
Further information on earnings and business figures as well as segment performance can be found at www.helaba.com
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SOURCE HELABA Landesbank Hessen-Thüringen