Dublin/Frankfurt, 9 May 2005
DEPFA BANK plc released its first quarter results 2005 today. The profit after taxes of € 120 million (corresponding to a return on equity of 25%) gives DEPFA every confidence that it will be able to achieve the profit target of up to € 500 million for the entire year. By opening up new markets and continuing to expand the product range, earnings of up to € 600 million should be realistic for 2006. Total revenues in the first quarter remained stable year-on-year and reached € 193 million. Extended net interest income increased by € 5 million to € 112 million (+5%), and the trading result achieved a good level at € 36 million. Income from sale of assets amounted to € 35 million in the first quarter whilst net commission income totalled € 10 million. A very healthy € 24 billion of new business was generated in the first quarter of 2005.
Group figures in the first quarter of 2005
|
|
31.03.2005 |
31.03.2004 |
Change |
|
Extended net interest income |
112 |
107 |
4.7 |
|
Net commission income |
10 |
21 |
-52.4 |
|
Trading result |
36 |
-32 |
|
|
Income from sale of assets |
35 |
97 |
-63.9 |
|
Total revenues |
193 |
193 |
|
|
Administrative expenditure |
-53 |
-34 |
55.9 |
|
Income before taxes |
145 |
159 |
-8.8 |
|
Group net income |
120 |
125 |
-4.0 |
|
Cost/income ratio |
27.5 |
17.6 |
|
Contact:
Hanno Strube
Marc Towner
Henrik Hannemann
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Ad hoc statement according to §15 German securities law
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Ad hoc statement according to §15 German securities law
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Ad hoc statement according to §15 German securities law
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Ad hoc statement according to §15 German securities law
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