Deutsche Hypo increases profit, takes on less new business
Deutsche Hypo’s earnings for 2018 exceeded those of the previous year, with earnings from normal operations having increased by 19.1% to €74.7mn. This was due to a better risk result and a special gain of €12.1mn from the sale of a debtor warrant issued by the Austrian bad bank Heta. The Nord/LB subsidiary held back somewhat in new business last year – the Lower Saxony bank only issued €2.9bn in loans, down from the previous year’s €3.8bn. The bank justifies this with its “quality-focused business policy” in a highly competitive market environment. Despite the lower volume of new business, it expanded its commercial real estate financing portfolio from €12.1bn to €12.3bn, as fewer early repayments were recorded year-on-year.
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