KfW IPEX-Bank presents positive results for 2011
Frankfurt am Main (ots)
- New commitments of EUR 11.4 billion in original lending business
support German and European export industries
- KfW IPEX-Bank GmbH achieves operating income of EUR 224 million
- Strong above-average contribution of EUR 623 million to the
consolidated earnings and to ensuring the promotional capacity
of KfW
- Focus 2012: Help small, medium-sized and large export-oriented
enterprises in global competition, thus promoting growth and
safeguarding employment in GermanyKfW IPEX-Bank reports a positive result overall for the 2011 financial year. The Frankfurt-based export and project finance institution last year made commitments totalling EUR 13.4 billion, of which EUR 2.0 billion in bank refinancings under the CIRR ship financing scheme (agency business for the Federal Republic). At EUR 11.4 billion, new commitments under its original lending business were EUR 3.1 billion above the previous year's volume (2010: EUR 9.3 billion).
The operating income also reflects the success of last year. KfW IPEX-Bank GmbH, which is legally independent and prepares its own financial statements, and which combines KfW Bankengruppe's market business activities of export and project finance, reported very good pre-tax income of EUR 224 million.
The Export and project finance business area, for which KfW IPEX-Bank is responsible, made a contribution of EUR 623 million to the consolidated earnings of KfW Bankengruppe in 2011, far above the average of recent years. The business area thus continues to be a major generator of earnings for KfW Bankengruppe and contributes actively to safeguarding KfW's long-term promotional capacity. The very positive results at the Group level in long-term comparison are explained by the moderate need for risk provisions in the credit portfolio as a result of the continued stabilisation of the risk position.
Last year KfW IPEX-Bank focused on its strengths and its mandate: to help the German and the European export industries stand their ground in global competition by providing them with effective financing solutions. "The success has validated our long-term, sustainability-oriented business approach. We are proud that through our work we have been able to contribute not just to maintaining and expanding German economic strength and employment, but also to improving ecological living conditions - both in Germany and in the destination countries of exports", reads the preface by the Management Board to the 2011 Annual Report, which was published today together with the financial statements.
In the current financial year KfW IPEX-Bank intends to expand its market position as a leading specialised financier. In addition to supporting the export industry, its business activity will continue to focus on financing environmental and climate protection projects, means of transport and infrastructure projects as well as projects to supply German industry with raw materials. "We engage in the financ¬ing operations as a structuring expert with industry expertise, years of experience and deep market knowledge. In this way we make an important contribution to the global business success of our clients, which also means safeguarding employment at home", said Harald D. Zenke, Speaker of the Management Board of KfW IPEX-Bank.
KfW IPEX-Bank accompanies its clients on their path both in industrialised and industrialising countries. "All over the world, goods and services made in Germany stand for quality and reliability. We see it as our mission to transform this potential into growth through tailor-made financings", Zenke added. For 2012 the bank plans to expand its volume of new business to EUR 12.6 billion (including CIRR ship refinancings).
Annual Report 2011
In the Annual Report published today at www.kfw-ipex-bank.de you will for the first time also find the Corporate Governance Report, which KfW IPEX-Bank as part of KfW Bankengruppe has voluntarily committed itself to publishing.
***The complete press release with the key figures of KfW IPEX-Bank you find on our Homepage www.kfw-ipex-bank.de
Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: thomas.krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de
Original content of: KfW IPEX-Bank, transmitted by news aktuell