News
IKB with Preliminary Figures for Fiscal Year 2007/08
- After-tax loss of € -24 million
- The crisis has a strong effect on financial figures
- Positive contribution to earnings by core business areas
- First structured securities portfolio sold
IKB International S.A.: 2007/08 financial statements prepared - loss participation of silent partnership interests
The board of directors (Verwaltungsrat) of IKB International S.A. today finalised the preparation of the Luxembourg Bank’s annual financial statements for the 2007/08 financial year which ended on 31 March 2008 and forwarded them to the Annual General Meeting of Shareholders (Generalversammlung) for approval. Based on such financial statements, the previously announced loss participation of the silent partnership interests (stille Beteiligungen) in IKB International S.A. has been calculated, as specified below.
IKB AG: 2007/08 financial statements prepared – loss participation of profit participation certificates, silent partnership interests and Trust Preferred Securities
The Board of Managing Directors of IKB Deutsche Industriebank AG today finalised the preparation of the Bank’s unconsolidated annual financial statements pursuant to the German Commercial Code (HGB) for the 2007/08 fiscal year which ended on 31 March 2008. Based on such financial statements, the previously announced loss participation of the profit participation certificates (Genussscheine), silent partnership interests (stille Beteiligungen) and Trust Preferred Securities has been calculated , as specified below. All figures set out herein have not yet been audited and remain preliminary until approved by the Supervisory Board.
IKB’s 9-month results for financial year 2007/08: Significant loss due to crisis – outlook confirmed – core business holds its ground
IKB Deutsche Industriebank posted a consolidated net loss for the first nine months of the financial year 2007/08 (1 April to 31 December 2007) of roughly € -1.0 billion (versus € 142 million surplus for 1 April to 31 December 2006). Losses on portfolio investments led to a negative net income from financial instruments at fair value of nearly € -2.0 billion (€ 88 million) and negative net income from investment securities of more than € -1.0 billion (€ 7 million). In contrast, the positive result from the assumption of risks by the banking pool amounted to € 2.2 billion (€ 0.0 million).
IKB Leasing pays out more than €1 billion for the first ever financial year
The IKB Leasing Group has been successful in increasing its volume of new business to more than €1 billion during the recent financial year (1 April 2007 to 31 March 2008) for the first time on record. New business accounted for €1,007 million, equal to growth of 23% on the previous year (€817 million).
IKB: 6-month figures 2007/08 strongly affected by crisis – SME business in total 2007/08 on pre-year level – Bidder interest strong
IKB Deutsche Industriebank posted a loss for the first half of the financial year 2007/08 (1 April to 30 September 2007) of € - 1.0 billion. The losses of portfolio investments led to a negative net income from financial instruments at fair value of € - 2.0 billion (first half of the financial year 2006/07: € 68 million) and negative net income from investment securities of € -1.0 billion (€ 8 million). In contrast, the positive result from the assumption of risks by the banking pool amounted to € 2.2 billion (€ 0.0 million).
Ad-hoc Release pursuant to Sec. 15 of the German Securities Trading Act: IKB reduces group loss forecast for financial year 2007/08 to - € 0.2 billion (IFRS)
The Board of Managing Directors of IKB Deutsche Industriebank expects that IKB Group (based on IFRS) will post a loss of - € 0.2 billion (previous forecast: - € 0.8 billion) for the 2007/08 financial year. This reduction resulted from calculations during the ongoing process of preparing IKB’s consolidated financial statements for the financial year 2007/08.
Werner Oerter new Chairman of Supervisory Board of IKB
The Supervisory Board of IKB Deutsche Industriebank AG has today elected Werner Oerter (55) as new Chairman of the Supervisory Board. Werner Oerter joined the Supervisory Board following the Annual General Meeting on 27 March 2008 and is, following his appointment today, taking over from Dr. Ulrich Hartmann. Werner Oerter is also taking over the presidency of the IKB Executive Committee of the Supervisory Board and will be member of the Audit and Finance Committee. Werner Oerter is Director of KfW Banking Group and Member of the Board of KfW Beteiligungsholding GmbH.
IKB strengthens business with corporate clients
- Andreas Leimbach appointed to Board of Managing Directors
- Dieter Pfundt nominated for election to IKB Supervisory Board