Hamburg (ots) - Maria Moraeus Hanssen announces a time for change on her first day as CEO and Chairman of the ...
Helaba generates pre-tax profit of EUR 238 million in first half of 2017
Frankfurt am Main (ots) -
- Helaba satisfied with first-half earnings - Welcome growth in new business - Risk position comfortable - Board of Managing Directors reiterates full-year forecast
Helaba Landesbank Hessen-Thüringen closed out the first half of 2017 with consolidated net earnings before taxes under IFRS of EUR 238 million. The consolidated net profit after taxes amounted to EUR 150 million. The result thus fell short of the previous year's strong figures of EUR 279 million before and EUR 184 million after taxes, as expected. In a challenging competitive market, the bank performed well in all business segments. In this respect, a significant increase in net trading income as well as lower provisions for losses on loans and advances had a particularly positive impact. At the same time, however, the low interest rate environment and volatile net income from hedge accounting and derivatives weighed on earnings in the first half of the year.
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