Landesbank Hessen-Thüringen Girozentrale reported full-year 2018 consolidated net profit after tax of €278 million under International Financial Reporting Standards, up by €22 million compared to a year ago.
The lender's pretax profit amounted to €443 million, down from €447 million in 2017.
Net interest income rose remained virtually flat year over year at €1.07 billion, while net fee and commission income declined to €349 million from €354 million. Net trading income fell on a yearly basis to €32 million from €268 million, primarily due to volatility on the capital markets and the widening of credit spreads.
Reversals of provisions for losses on loans and advances amounted to €45 million, compared to a reversal of €56 million a year earlier.
Helaba's fully loaded common equity Tier 1 ratio stood at 14.9% at the end of 2018, compared to 15.2% at 2017-end. The phased-in total capital ratio ticked down to 20.6% from 21.8%.
Return on equity before tax stood at 5.4% as of Dec. 31, 2018, compared to 5.7% at the end of 2017.
Herbert Hans Grüntker, chairman of Helaba's board of managing directors, said the group expects earnings in 2019 to remain at the same level as in 2018.