Landesbank Berlin Holding AG has reported its financial results for the first quarter of 2012, including pre-tax earnings of €84m.
This is a decline from the €106m of the corresponding period last year, but is an improvement from the €69m of Q4 2011.
Quarterly consolidated net profits, after tax, came to €67m, down from the €85m of Q1 2011.
Net fee and commission income rose, year-on-year, from €64m to €66m, with net interest income up from €215m to €235m.
Chairman of the Board of Management Dr. Johannes Evers said that the firm had started 2012 well, despite continuing uncertainty and volatility in financial markets.
Dr. Evers cited the recent events in Spain as a warning not to assume the all-clear had been sounded, adding that, at best, the eurozone sovereign debt crisis meant that the situation for the financial sector remained difficult.