IKB Deutsche Industriebank Reports Stable Results for H1 2024

IKB Deutsche Industriebank AG announced stable results for the first half of 2024, achieving consolidated net income before taxes of €32 million, down from €36 million the previous year. The bank's return on equity after taxes was 7.6%, a slight decline from 7.9%. Administrative expenses decreased to €66 million from €77 million the previous year, and the cost/income ratio improved to 57.6%.

The bank reported a robust loan book, with a non-performing loan (NPL) ratio of 2.0% and risk provision expenses totaling €13 million. The common equity tier 1 capital ratio rose to 17.2% from 16.8% at the end of 2023. CEO Dr. Michael Wiedmann expressed confidence in meeting the full-year earnings forecast.

IKB faced a challenging economic environment, with reduced new loan volumes of €1.0 billion compared to €1.6 billion the previous year. Despite these conditions, the bank maintained stable net interest income of €107 million and adjusted its lending focus to clients with good credit ratings.

In light of geopolitical tensions and market uncertainties, IKB continues its cautious lending strategy. Despite potential headwinds, the bank projects achieving a return on equity of around 8% for the entire year and aims to maintain its consolidated income forecast.