Commercial Banks
Company Overview of Landesbank Baden-Wuerttemberg
Company Overview
Am Hauptbahnhof 2
Stuttgart, 70173
Germany
Key Executives for Landesbank Baden-Wuerttemberg
Landesbank Baden-Wuerttemberg Key Developments
Landesbank Baden-Wuerttemberg reported earnings results for the first quarter of 2013. For the quarter's net profit dropped 44.2%, to EUR 69 million from EUR 124 million in the same period a year ago. Operating income fell 26.3%, to EUR 165 million from EUR 223 million a year ago. Net interest income increased to EUR 463 million from EUR 435 million over the same period, despite low interest rates and 'reasonably muted' borrowing from the corporate sector. Net fee and commission income jumped to EUR 136 million from EUR 125 million, partly because of a recovery in the securities business, while losses from financial investments widened to EUR 46 million from EUR 31 million a year ago due to the sale of foreign securities.
Landesbank Baden-Wuerttemberg reported consolidated earnings results for the year ended December 31, 2012. For the year, the company's net interest income was EUR 2,057 million compared with EUR 2,298 million a year ago. This was chiefly due to the continued run-off of interest-bearing assets as well as the generally low market interest rates. Operating result was EUR 694 million compared with EUR 392 million a year ago. This performance was underpinned by a solid customer business particularly with corporate, continued low allowances for losses on loans and advances and improved net gains from financial investments. Net consolidated profit before tax was EUR 399 million compared with EUR 86 million a year ago. Net consolidated profit was EUR 398 million compared with EUR 66 million a year ago.
Landesbank Baden-Wuerttemberg, 2012 Earnings Call, Apr 29, 2013
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To contact Landesbank Baden-Wuerttemberg, please visit www.lbbw.de. Company data is provided by Capital IQ. Please use this form to report any data issues.
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