Bayernlb defies the crisis: record profits despite the economic worries!

Bayernlb defies the crisis: record profits despite the economic worries!

The BayernLB defies the crisis and surprises with impressive winnings! Despite the challenging economic situation, the Landesbank reports a net profit of over one billion euros for the first nine months - a spectacular increase of 16 percent compared to the previous year! Thanks to the increased interest rates, the bank, which belongs to the Free State and the Bavarian Sparkassen, can still shine. CEO Stephan Winkelmeier and his team report on input tax, which climbed by 4.5 percent to 1.35 billion euros.

BayernLB has its annual target of 1.4 billion euros in input tax result after only nine months. Winkelmeier, known for his cautious forecasts, has always exceeded expectations in the past. The largest and most profitable subsidiary of the Landesbank Group, the Berlin online bank DKB, contributed 882 million euros to the input tax. But the economic crisis also leaves its mark on BayernLB.

risk provision for loans increases dramatically

An alarming sign is the drastically increased risk prevention for loans at risk of potentially prone. In the first nine months, 263 million euros were covered - almost ten times as much as in the previous year! The majority of these reserves concern the real estate business, which is under great pressure due to rising interest costs and falling real estate prices. Many project developers get into financial difficulties, and BayernLB remains vigilant to prepare for possible challenges.