Bayern LB is paying out 350 million euros | EUROtoday

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DThe Free State of Bavaria and the Bavarian financial savings banks will obtain a considerably increased dividend from BayernLB after one other report consequence. The Landesbank desires to distribute 350 (earlier 12 months: 225) million euros, because it introduced on Friday in Munich.

Profit earlier than taxes rose by 28 p.c to 1.44 billion euros in 2023, primarily due to a considerably increased web curiosity revenue; that they had focused 1.1 to 1.3 billion. The backside line was 1.17 (1.06) billion. BayernLB normally distributes a 3rd of its web revenue. The state holds 75 p.c of the shares, the financial savings banks 25 p.c.

DKB’s development is paying off

“BayernLB’s positioning as a focused specialist financier, which was completed in 2023, and the profitable growth strategy at our subsidiary DKB are paying off,” stated CEO Stephan Winkelmeier. For the present 12 months, BayernLB expects a pre-tax revenue of 1.0 to 1.2 billion euros.

The Berlin direct financial institution DKB virtually tripled its revenue earlier than taxes to 1.00 (0.35) billion euros. You profit from the rising rates of interest. In the BayernLB Group, web curiosity revenue rose by 36 p.c to 2.92 billion euros.

In this manner, the Landesbank additionally made up for the provisions for unhealthy loans within the industrial actual property enterprise. Risk provisions in the actual property division rose to 210 (36) million euros, which means the division was simply within the black with a revenue earlier than taxes of 4 (187) million euros.

https://www.faz.net/aktuell/wirtschaft/unternehmen/bayern-lb-schuettet-350-millionen-euro-aus-19648489.html