DVB Group posts solid results for 2009

Based on preliminary, unaudited figures, DVB Group posted solid consolidated net income (after taxes) of EUR 76.1 million, a 27.7% decline from the previous year’s figure of EUR 105.2 million. Net interest income was up slightly, to EUR 194.3 million – a positive development, given the difficult market environment in 2009. Against this background, the Bank originated new business in large-sized structured Transport Finance exposures on a selective basis. New business volume amounted to EUR 3.0 billion. DVB’s interest rate margins for new transactions were able to include the clearly higher funding costs prevailing throughout 2009: hence, the interest margin on new business rose to an average of 343 basis points (up 157 year-on-year), thus also ensuring an adequate risk/return relationship.