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Helaba with earnings of EUR 381 million before taxes in Q3
Frankfurt am Main (ots) -
- Results exceed target - Earnings forecast confirmed - Risk situation remains comfortable - Challenging business environment unchanged
Frankfurt am Main - Helaba Landesbank Hessen-Thüringen generated pre-tax profits of EUR 381 million in the first nine months of 2017, a decline of EUR 36 million compared to the very good result achieved in the same period last year. The consolidated profit after taxes amounted to EUR 249 million (previous year: EUR 266 million). This means that Helaba performed well in the context of a market environment that continues to be challenging. The significant growth in net trading income and the low level of provisions for losses on loans and advances had a positive effect. Apart from a decline in net interest income due to the ECB's monetary and QE policies, valuation effects resulting from cross-currency basis spreads (CCBS) once again had a negative impact.
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Mike Peter Schweitzer