August 13, 2013
DVB Group publishes half-yearly financial report for 2013
DVB Bank SE presented its results for the first six months of 2013. Consolidated net income before taxes for the first half of the year was 6.2% lower than in the previous year (H1 2012: €70.8m). The year-on-year change was due to a non-recurring effect in the first half of 2012: namely, the sale of a stake in British aero engine specialist TES Holdings, Bridgend, Wales, to two Japanese investors. Nonetheless, net interest income rose by 3.3%, and net fee and commission income was up 2.0%.