11.05.2012 09:51

Trading update Q1 2012: Credit Europe Bank’s net profit increases to €29 million

Credit Europe Bank NV made a successful start in 2012 by posting a net profit of €29 million in the first quarter of the year, 21% higher than the net profit of €24 million in the same period of 2011. The increase was driven by the growth in net operating income by 10% to €113 million. The total operating expenses increased by 6% to €75 million due to investments in the retail distribution network.

The bank maintained a strong capital position with a Tier 1 ratio of 10.51% and a solvency ratio of 12.87% at the end of Q1 2012.

Operational highlights:
• The total trade finance volume reached a level of €1.9 billion in Q1 2012.
• The bank’s loan book increased from €7.2 billion by the end of 2011 to €7.5 billion by the end of the first quarter of this year.
• The bank increased its Tier2 capital by €38.5 million ($50 million) in Q1 2012.
• To further improve customer services the number of ATMs increased from 730 to 795 and the number of point of sales terminals increased from 16,000 to 16,700 by the end of Q1 2012.

Credit Europe Bank: A reliable bank that works for you

More than three million customers around the world entrust their financial affairs to Credit Europe Bank. We offer corporate customers a wide range of banking products, including international trade and commodity finance, project finance and working capital loans. Represented in key trading hubs such as the Netherlands, Switzerland, China and the United Arab Emirates, as well as in raw material exporting and importing countries including Russia, Turkey and Ukraine, we are well positioned to finance our customers’ transaction flows across the globe.

To retail and SME customers we offer simple and transparent products in eight Western and Eastern European countries: Belgium, Germany, the Netherlands, Malta, Romania, Russia, Turkey and Ukraine.

Credit Europe Bank NV is headquartered in the Netherlands and operates with 230 branches, 795 ATM’s, 8,300 sales points and 16,700 point of sale terminals. It has more than 6,600 employees in 11 countries.

Please find further information here (PDF) on the balance sheet .