COREALCREDIT BANK AG
COREALCREDIT BANK AG holds its ground in the financial market crisis
COREALCREDIT BANK AG / Final Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- * Net profit increased to EUR 12.5 m (previous year: EUR 3.3 m) * New real estate financing business increased to EUR 1.4 bn (previous year: EUR 1.1 bn) * Solid business model - core capital ratio of 12.1% At its meeting today, the Supervisory Board of COREALCREDIT BANK AG conclusively approved the financial statements for 2008. With an increase in net profit to EUR 12.5 m, the Bank confirmed the positive trend it initiated in the previous year. The loss brought forward from 2007 and the net profit for 2008, along with the replenishment of some profit participation rights (EUR 2.6 m) and the recourse to silent participations (EUR 7.3 m) and other profit participation rights (EUR 3.4 m), resulted in a balance sheet loss of EUR 771.5 m, which was lower than the previous year's level. Despite the difficult market environment, new business (new business transactions and extensions) volume increased by some 25% year-on-year to EUR 1.4 bn (previous year: EUR 1.1 bn). The Bank's core capital ratio improved to 12.1% (previous year: 9.8%) with nearly unchanged liable equity of EUR 1.047 bn (previous year: EUR 1.028 bn). Performance in the first quarter of 2009 was in line with the Bank's expectations and demand from real estate and Pfandbrief investors was positive. However, in light of the high level of uncertainty about future economic developments, it is not possible today to make a reliable statement about the results expected for the 2009 financial year. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Please find a register of all listed securities of COREALCREDIT BANK AG on our website http://www.corealcredit.de/upload/wertpapiere/Wertpapierliste.pdf Contact: Axel Leupold Telefon: +49-(0)69-7179 543 Telefax: +49-(0)69-27179 543 axel.leupold@corealcredit.de 23.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COREALCREDIT BANK AG Grüneburgweg 58-62 60322 Frankfurt am Main Deutschland Phone: 069 / 7179 - 543 Fax: 069 / 27179 - 543 E-mail: axel.leupold@corealcredit.de Internet: www.corealcredit.de ISIN: DE0008002874, DE0005169734, DE0005169759, DE0008002866, DE0008103037, DE0008103045, DE0008103078, DE0008103094 WKN: 800287 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Stuttgart, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found