DVB Bank remained on course during the first half of 2011, boosting its consolidated net income before taxes to €74.9 million, up 26.9% (H1 2010: €59.0 million). DVB’s income (comprising net interest income after allowance for credit losses, net fee and commission income, net income from financial instruments in accordance with IAS 39, results from investments accounted for using the equity method, and net other operating income/expenses) totalled €162.0 million, an increase of 15.8% over the results for the first half of 2010 (€139.9 million).
At €112.2 million, net interest income increased by 2.5% year-on-year (H1 2010: €109.5 million). Even though new international Transport Finance business continued to increase, reflecting growth in global transport volumes, DVB maintained its business policy – one that is both risk-aware and committed. DVB originated 75 new transactions, with an aggregate volume of €2.4 billion (H1 2010: 54 new transactions with a total volume of €1.6 billion).
