Helaba Continues on Positive Earnings Trajectory in First Half of 2012

FRANKFURT AM MAIN, Germany, Aug. 22, 2012 /CNW/ -

• Operating customer business and net trading income show satisfactory development
• New business grows by ten per cent
• Brenner optimistic about full-year results
• Helaba takes over function as central bank for savings banks in North Rhine-Westphalia and Brandenburg

- Cross reference: The full press release is available at http://ots.de/CMsgh -

Despite a weakening economic situation, the continuing debt crisis in certain Eurozone member states as well as high volatility on the financial markets, Helaba Landesbank Hessen-Thueringen was able to sustain its positive earnings trend in the first half of 2012. It achieved group earnings before taxes of EUR 288 m, representing a drop of EUR 45 m compared to the EUR 333 m result in same period last year. Hans-Dieter Brenner, CEO of Helaba, is optimistic about what has been achieved: "The Helaba group's good earnings position is characterised by a successful continuation of operating activities in customer business as well as in S-Group, private customer and SME business at the same high level as last year. On top of that there is the net trading result, which was ahead of target. Although we are behind our best-ever half-year result of 2011, on a pro rata basis compared to last year we have already reached almost 60 per cent of the entire 2011 result. Even if the political discussion about approaches to solving the debt crisis should lead to further market turbulence, I see Helaba on a positive earnings path thanks to a stable development in customer business. Thus I am confident, and remain committed to the goal from today's point of view, of striving for a result in the 2012 financial year approaching the high level of the previous year."

SOURCE: HELABA Landesbank Hessen-Thueringen

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