DVB Bank SE continued to provide financing solutions and advisory services to its clients in the international transport sector during the first nine months of 2014, but results fell short of the previous year: consolidated net income before taxes was down 24.5%, to €72.6m (9m 2013: €96.2m). The strong fluctuation in net income from financial instruments in accordance with IAS 39 was a key factor contributing to this decline. At €217.3m, total income (comprising net interest income after allowance for credit losses, net fee and commission income, results from investments accounted for using the equity method, and net other operating income/expenses), was up 7.1% year-on-year (9m 2013: €202.8m). Consolidated net income before IAS 39 and taxes improved by 4.8%, from €77.1m in the previous year to €80.8m. DVB concluded a total of 122 new transactions during the period ending 30 September 2014, with an aggregate volume of €4.0bn (9m 2013: 101 transactions with a volume of €2.7bn). Net allowance for credit losses amounted to €28.5m (9m 2013: €45.0m). Net interest income after allowance for credit losses of €134.0m was up slightly year-on-year (9m 2013: €129.0m).