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HVB Group make €1bn adjusted pre-tax profits

HypoVereinsbank Group (HVB) has published its financial results for the first nine months of the year.

HVB saw total revenues increase sharply by 60% during the first nine months to stand at €5.5bn.

The bank also saw net trading income increase dramatically to over €1bn, with operating costs continuing to fall.

Overall pre-tax profits were recorded at €720m, with every operating division in the black.

This marks an increase on the €639m pre-tax profits recorded for the first six months, especially as the firm’s pre-tax profits for the first nine months increases to €1bn after restructuring costs are taken into account.

Board spokesman Dr. Theodor Weimer has expressed the firm’s delight at its ongoing profitability, particularly given the difficult market conditions.

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