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BRIEF-IKB Deutsche Industriebank FY ‍consolidated net income up to EUR 26 mln
June 9, 2017 / 6:08 AM / 4 months ago

BRIEF-IKB Deutsche Industriebank FY ‍consolidated net income up to EUR 26 mln

June 9 (Reuters) - IKB DEUTSCHE INDUSTRIEBANK AG:

* FY ‍CONSOLIDATED NET INCOME RISES TO EUR 26 MILLION​

* FY ‍NEW BUSINESS EXPANDS BY EUR 0.5 BILLION TO EUR 4.2 BILLION​

* FY TOTAL NET INTEREST AND NET FEE AND COMMISSION INCOME INCREASES TO EUR 17 MILLION

* ‍NET PROFIT OF IKB AG FOR 2016/17 AMOUNTS TO EUR 0 (PREVIOUS YEAR: EUR 0)​

* CHALLENGES THAT IKB FACED IN 2016/17 FINANCIAL YEAR REMAIN IN EFFECT FOR FUTURE AS WELL

* ‍EXPECTS A FURTHER INCREASE IN ITS CONSOLIDATED NET INCOME AFTER TAXES FOR COMING 2017/18 FINANCIAL YEAR​

* FOR 2017/18, BANK EXPECTS TO SEE A SLIGHT INCREASE IN RECEIVABLES FROM CUSTOMERS, AS GROWTH IN NEW LENDING BUSINESS IS LIKELY TO MORE THAN OFFSET REPAYMENTS IN LENDING BUSINESS AND REDUCTIONS OF ASSETS

* ‍TO EXTENT THAT NET INCOME CAN BE REPORTED IN FUTURE, REDUCTION OF NET ACCUMULATED LOSSES MEANS THAT IT WILL NOT BE POSSIBLE TO DISTRIBUTE A DIVIDEND TO SHAREHOLDERS OF IKB AG​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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