DVB Bank's consolidated net income for first half of 2015 in line with previous year

DVB Bank SE, the international transport finance specialist, increased consolidated net income before taxes for the first half of 2015 by 4.6% year-on-year, to €43.3m (previous year: €41.4m). Interest income rose by 18.9%, from €434.7m to €516.8m. Allowance for credit losses amounted to €39.7m (previous year: €27.9m), net interest income after allowance for credit losses of €52.8m was lower than the previous year’s figure of €77.1m. Consolidated net income before bank levy, BVR, and taxes improved by 28.2%, to €58.2m (previous year: €45.4m). Consolidated net income before taxes was up 4.6% year-on-year, to €43.3m (previous year: €41.4m), whilst consolidated net income after taxes amounted to €30.1m and thus almost reached previous year’s figure of €31.7m.