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BayernLB books 2.4% YOY decline in Q1 profit

Bayerische Landesbank reported first-quarter consolidated profit after noncontrolling interests of €181 million, compared to €186 million in the same period of 2017.

Net interest income reached €450 million, up from €430 million a year earlier. Net commission income declined 15.3% on a yearly basis to €60 million from €71 million.

Risk provisions in the credit business increased year over year to €117 million from €95 million. The German lender booked €100 million in expenses for the bank levy and deposit guarantee scheme in the first quarter, compared to expenses of €79 million in the first three months of 2017.

First-quarter return on equity rose to 10.9% from 10.5% in the year ago period.

BayernLB's fully loaded common equity Tier 1 ratio stood at 14.6% as of March 31, compared to 15.3% at the end of December 2017.

The bank expects its full-year 2018 pretax profit to be in the mid-triple-digit million-euro range once again, provided macroeconomic conditions remain unchanged.