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1st July 2011

Small profit at IKB

IKB Deutsche Industriebank reported a nominal profit for the year to March 31st 2011 of €52m (£46.9m $75.2m ¥6,045m Y485.8m) compared with a year ago LOSS of €967m. IKB is unfortunately now best known as being one of the first victims of the financial crisis. Its move into profit was due to most of the bad and doubtful debt now having been written off or provisioned for and a slight value in the fair value of financial instruments compared with a major loss a year ago.


Year to March 31st 2011 2010
€m €m
Net interest income 140 179
Provisions for possible loan losses 71 494
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NII after provision for loan losses 69 -315
Net fee and commission income -93 -52
Financial instruments at fair value 71 -599
Net income from investment securities 42 159
Equity method investments, net 2 -1
Administrative expenses -321 -301
Other operating result 243 165
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Operating result 13 -944
Tax 39 -23
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Consolidated net profit/loss for the period 52 -967