IKB Deutsche Industriebank AG Reports Steady Performance in 2023 Financial Year

In a challenging economic climate, IKB Deutsche Industriebank AG has reported a solid financial performance for the 2023 financial year. The bank achieved a consolidated net income before taxes of €63 million, showing a slight increase from the previous year's €61 million. This result surpassed the company's financial targets amid rising market interest rates and economic uncertainties. The Return on Equity (ROE) after tax also improved to 7.3%, up from the previous year's 6.3%.

Despite the difficult conditions, the bank successfully maintained a stable loan portfolio with a non-performing loan (NPL) ratio consistent at 2.0%. The cost-income ratio (CIR) was reported at 60%, with a slight improvement to 52% after adjustments. Administration expenses rose modestly to €147 million due to inflation and regulatory requirements. However, the bank's CET1 capital ratio saw a significant increase to 16.8%, marking a robust capital position.

Dr. Michael Wiedmann, Chairman of the Board of Managing Directors, emphasized the bank's resilience and adherence to high-risk standards, underlining its commitment to supporting mid-cap customers and focusing on sustainable financing. Despite the tough economic backdrop, IKB anticipates a consolidated net income before taxes of around €70 million for 2024. The bank remains focused on risk management and expects to see business growth from financing solutions, particularly in climate protection and energy efficiency programs.