trending Market Intelligence /marketintelligence/en/news-insights/trending/hFUsREiVVBm947lkAKYRqA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Bank levy, deposit guarantee system dent LBBW's Q1 results

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Bank levy, deposit guarantee system dent LBBW's Q1 results

LandesbankBaden-Württemberg reported first-quarter net consolidated profit of€43 million, down from €76 million in the year-ago period.

Net interest income increased on a yearly basis to €414million from €379 million, while net fee and commission income decreased to€135 million from the year-ago €140 million.

The company's net losses from financial instruments measuredat fair value through profit or loss widened year over year to €34 million from€12 million.

Allowances for losses on loans and advances dropped to €4million from €29 million a year earlier. In the quarter, bank levy and thedeposit guarantee system cost the bank €74 million, up from €31 million in theyear-ago period.

LBBW's total assets rose to €251 billion as of March-endfrom €234 billion at the end of December 2015, while risk-weighted assets underCRR/CRD IV totaled €76 billion as of March-end, up from €74 billion at the endof 2015.

The common equity Tier 1 capital ratio under the CRR/CRD IVtransitional rules was 15.5%, compared to 16.4% as of Dec. 31, 2015. The fullyloaded CET1 ratio was 14.9% at March-end, compared to 15.6% at the end of 2015.

The company continues to expect that its consolidated pretaxnet profit for 2016 will be slightly below the level.