Info dai tedeschi
apoBank final stroke draws in past
- Extensive provisioning leads to net loss of 283.1 million €
- Operating profit, that is part of operating profit before provisions, with 317.8 million euros last year's level
covered - realistic with € 588.4 million loan loss provisions for all identifiable risks
- Set in 2009 about 90 new relationship managers; sales campaign will be continued in 2010 in cooperation with the cooperative financial system
- Herbert Pfennig, CEO: "Start Right, we can."
The German pharmacists and doctors Bank (apoBank) today released its financial results for the year 2009. The Bank has used the past fiscal year, at the risk potential financial instruments to reduce its portfolio significantly in condition, and thus managed to fully concentrate on its core business to be able to again. As a result of this strategy, the Bank for 2009 with a € 283.1 million Net loss of (31.12.2008: net income € 59.6 million). This will complete the partial resolution of balance sheet reserves offset by, the operation of the silent as well as the certificates will allow that. For the year 2009 dividend payment is a must fail.
The comprehensive risk prevention was a very successful core business to: So this further rise in customer numbers shows now 333 100 customers (31.12.2008: 319 100) that the apoBank consolidate its market position could be the leading bank in the health sector further. The part before risk provisions lies with € 317.8 million over the previous year's already high level (31.12.2008: € 315.9 million) and demonstrates the operational strength of the largest cooperative primary banks.
Herbert Pfennig, CEO, "With these financial statements we are drawing a line under the past, after risk provisions adequately doped and the consequent reduction of the portfolio of structured finance products have launched. We have now created all conditions for us to focus fully and completely on the business opportunities in our core business and to tie back to the successful period before the financial crisis. "
Main source of revenue in fiscal 2009, net interest income again. Driven by the success in the loan business with new loans from the first time more than four billion euros, net interest income presented with € 618.2 million over the previous year by 8.4% significantly (31.12.2008: € 570.5 million). The measures taken in the past in the strategic interest rate risk than offset the reduced margins in the deposit area and the overall higher refinancing costs of the bank.
Net commission income was 111.6 million euros expected, lower than last year (31.12.2008: € 136.2 million). In the course of the chosen hedging strategy of the commission expenses through measures to cover individual positions in financial instruments * men * te * portfolios * lio has been charged. In addition, the continued reluctance of investors affected, despite a slight recovery in the second half of the proceeds in the securities business with private customers. Had a positive impact against alternative investment opportunities, such as investment real estate and insurance, and the continuing sales success in new business from loans.
Administrative expenses were already in the course of the project launched in 2008 "apoFit" schedule increases by 6.6% to € 422.6 million (31.12.2008: € 396.3 million). With this project for the sustainable optimization of the cost to more freedom for strategic investments to implement the growth strategy to be created. So in particular the increase in staffing levels and distribution of non-recurring as part of "apoFit" responsibility for the increase in administrative costs.
The biggest charge against earnings resulting from the significantly increased risk provisions in particular for the portfolio of structured financial products. The risk provision is netted in fiscal 2009 total of 588.4 million euros, well above the previous year (31.12.2008: € 244 million). The order has apoBank all identifiable risks appropriately addressed. Precautionary reserves were not resolved during the year.
The portfolio structured financial products the Bank pursues a consistent reduction strategy. In 2009 this portfolio was € 1.1 billion to a total of € 4.5 billion (31.12.2008: € 5.5 billion will be reduced).
While the risk result was burdened by the financial instruments and investments with € 485.1 million (31.12.2008: € 330.8 million), accounted for the classic customer lending € 95.9 million (31.12.2008: 36.8 million . €). The increase reflects both the increase in overall lending, as well as value adjustments for individual care structures including as a result of extended lead times. The continued low provision for credit with private clients attesting to the economic independence of the health sector.
Total assets at year-end 2009 with 41.2 billion euros the previous year (31.12.2008: € 41.2 billion). This development reflects the growth in the lending strategy as well as the opposite effects due to the chosen * consolidation of the financial instruments.
The capital or core capital ratio of the bank at year-end decreased to 10.2% (31.12.2008: 12.8%) and 6.2% (31.12.2008: 8.7%). This is mainly due to the increased capital commitment to the structured financial products. This was due to a systematic downgrading of the securities by the external rating agencies. To compensate, the apoBank agreed in addition to domestic measures to strengthen equity temporary relief measures with the Federation of German folk and Banks (BVR). Thus, the additional capital protected bond reduced and the capital market expected capital ratios lasting and permanent.
The 2010 increase is apoBank launched in 2009 its sales campaign in strong cooperation with the cooperative financial system continues, the offensive with two central thrusts: first, the branch network expanded to more locations in Germany. Simultaneously, the customer will be deepened, to the apoBank addition to the successful lending and a strong focus on the investment sales business. The campaign is backed also by the extension of consultant capacity for more sales employees. With these measures and in cooperation with the cooperative credit apoBank the next year to expand its lasting good customer business. ensures an integral part of the community enjoyed * * Lichen financial services network, apoBank with its unique business model in this form, the market leader for financial services in health care for the composite.
Herbert Pfennig, CEO: "In fiscal 2010, we have started well and is right on schedule. Based on current plans, we expect 2010 net income, the dividend distribution allows. Since a return to normality in financial markets in fiscal 2010 not yet in sight, year is accurate earnings forecast for the current uncertainties continue with. "