July 25, 2014 1:05 PM ET

Banks

Company Overview of Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale

Company Overview

Bremer Landesbank Kreditanstalt Oldenburg – Girozentrale provides various banking products and services in Germany. The company’s corporate banking activities include individual corporate finance, insurance, transaction management, company pension plans, and transactions for hedging/derivatives. It also offers products for account, credit, investment, and transaction business; and services in the areas of money and capital market products, foreign exchange, currencies, and derivatives. In addition, the company is involved in long-term object and short-term construction financing; ship financing; refinancing of vehicle and equipment; leasing and factoring of companies, community interest prop...

Domshof 26

Bremen,  28195

Germany

Founded in 1983

Phone:

49 421 332 0

Fax:

49 421 332 2322

Key Executives for Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale

Chairman of Management Board
Age: 58
Deputy Chairman of Management Board
Executive Vice President and General Manager
Member of Management Board
Compensation as of Fiscal Year 2014.

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale Key Developments

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale, 2013 Earnings Call, Apr 29, 2014

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale, 2013 Earnings Call, Apr 29, 2014

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale to Report Fiscal Year 2013 Results on Apr 29, 2014

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale announced that they will report fiscal year 2013 results on Apr 29, 2014

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale Announces Earnings Results for the First Half Year Ended June 30, 2013; Reaffirms Earnings Guidance for the Full Year of Fiscal 2013

Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale announced earnings results for the first half year ended June 30, 2013. For the period, the company reported interest income was €860 million compared to €1,080 million for the same period a year ago. Net interest income of €219 million compared to €192 million for the same period a year ago. Net interest income after loan loss provisions was €88 million compared to €88 million for the same period a year ago. Earnings before tax was €29 million compared to €50 million for the same period a year ago. Consolidated profit attributable to parent company was €23 million compared to €35 million for the same period a year ago. The positive development of sustainable operating income components was supported by an ongoing noticeably lower negative effect from the credit default swaps measured at fair value. However, these factors did not more than make up for the negative impact from the significant increase in loan loss provisions and the planned increase in administrative expenses and, thus, resulted in a lower overall consolidated profit for the period as compared to the prior year. Return on equity as at June 30, 2013 was 3.5% compared to 4.8% as at December 31, 2012. Cash used in operating activities was €334 million compared to cash from operating activities of €645 million for the same period a year ago. The company reaffirmed earnings guidance for the full year of fiscal 2013. The bank expects to make a healthy contribution to profit by the end of 2013. The company reported that it is well positioned to remain profitable and drive forward its business development even in a difficult economic environment, particularly in shipping. Despite a muted start to the second half of the year, the company is confident that for the full year 2013 it will achieve its new business targets as well as its forecast for stable profits.

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