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Landesbank Berlin reports financial results

Landesbank Berlin Holding AG has reported its financial results for the third quarter, including pre-tax profits of €89m, almost identical to the €88m made in the same quarter last year.

In the first three quarters of the year the bank made pre-tax profits of €220m, down on the €306m made during the corresponding period in 2009.

Net interest income fell from €674m to €528m, but net fee and commission income rose by €10m to €199m.

Chief Executive Officer Dr. Johannes Evers has stated that the bank is close to bringing a difficult year to a good end, and added that the bank seemed on course to match the previous year’s annual profits.

The bank is set to continue with its present risk policy and to retain its cautious approach to investment for the foreseeable future.

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