DVB Bank posts 2015 net income of €45.6m

DVB Bank generated consolidated net income after taxes of €45.6m (previous year: €79.1m), providing financing solutions and advisory services to its clients in the international transport sector. DVB originated new international Transport Finance business at attractive terms, in spite of persistent and intense competition amongst banks on the financing markets. As at 31 December 2015, the Bank’s new business in Shipping Finance, Aviation Finance, Offshore Finance and Land Transport Finance comprised 190 transactions with an aggregate volume of €7.0bn – compared to 187 transactions with an aggregate volume of €6.3bn during the previous year. Net result from financial instruments in accordance with IAS 39 swung to €70.8 m (previous year: €-21.4m). Result from investment securities, which is included in this figure, showed a marked improvement to €35.3 m (previous year: €-4.0m). This reflected substantial non-recurring income generated by the Bank’s Aviation Investment Management team from the partial disposal of its stake in Wizz Air Holdings Plc.