FRANKFURT AM MAIN, Germany, May 28, 2018 /PRNewswire/ --
- Profit before tax of EUR 79 million slightly above previous year
- Further improvement in capital ratio to 15.7 percent
- Risk situation continues to ease
- Outlook for 2018 financial year confirmed
Helaba Landesbank Hessen-Thüringen generated a consolidated profit before tax of EUR 79 million in the first quarter of 2018. This represents a rise of EUR 4 million compared to the profit for the comparable period in 2017 of EUR 75 million. After allowing for tax, the consolidated net profit for the quarter amounted to EUR 52 million (previous year: EUR 47 million). This means that, overall, Helaba enjoyed a satisfactory first quarter.
"Conditions remained difficult in the first quarter of the year, which was reflected in modest growth in new business volume as well as declining net interest income. However, there are already indications that business will pick up in the second quarter. Against this backdrop, we are most definitely satisfied with our first-quarter results. The figures back up our forecast for 2018, whereby we anticipate a stable performance for the year as a whole," commented Herbert Hans Grüntker, the Chairman of Helaba's Board of Managing Directors.
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