Bayern LB follows the other big Landesbanken with significantly better figures for the first half and puts the sister institutions in the shade. Bayern LB’s pre-tax profit tripled to € 485 million from € 158 million in the same period a year earlier, the bank said. This is explained, among other things, by a significant increase in net interest income and the reversal of provisions for risks.
At Helaba, profit before tax amounted to 293 million euros in the first half of 2021, compared to a loss of 274 million euros in the same period of the previous year. LBBW created 428 million euros, after around 100 million euros a year earlier.
“We are satisfied with the business performance in the first half of the year; all BayernLB customer segments have significantly increased their results, ”said CEO Stephan Winkelmeier.
Net interest income soared to a good billion euros. As justification, Bayern LB referred to new business and participation in ECB tenders. Commission income also increased. At the same time, the reversal of provisions for risks reduced the half-year figures.
In view of the good start to 2021, Bayern LB has raised its previous annual forecasts and now expects a profit before tax of 500 to 700 million euros for the whole year. In March, the institute named a range of 200 million euros to 400 million euros. Bayern LB’s decision to integrate Deutsche Kreditbank into private bank deposit insurance recently caused a stir. This sparked speculation that the course would be set for the sale of the girl. However, the Landesbank stressed on Thursday that the DKB was “an integral part of the BayernLB group”.