Results of IKB Deutsche Industriebank AG for the 2022 financial year: resilient earnings in a volatile market environment
- Consolidated net income before tax of €61 million
- Administrative expenses of €145 million (normalised administrative expense of €128 million)
- Cost/income ratio of 68.5% (normalised C/I ratio of 60.4%)
- Resilient loan book: risk provisions of €19 million (of which €12 million relates to future potential downward rating migrations in light of uncertain macro environment) and NPL ratio (EBA definition) of 1.9%
- CET 1 ratio (fully phased) of 14.5%, CET 1 ratio (phased-in) of 16.6%, CET 1 ratio (Basel IV) of 15.4%
- Leverage ratio (fully phased) of 6.0%
- Dr Michael Wiedmann, Chairman of the Board of Managing Directors of IKB: “Despite a difficult environment, we were able to keep new business stable and focussed on customers with good credit ratings.”
IKB Deutsche Industriebank AG has announced not to call its €300 million 4.00% Tier 2 Bond, callable on 31 January 2023.
The decision not to call the Tier 2 Bond (ISIN: DE000A2GSG24 – “the Bond”) has been taken after careful evaluation of various factors, including market conditions and economic costs.