DVB Bank posts positive consolidated net income before taxes for the first half of 2016

DVB Bank, the international transport finance specialist, generated consolidated net income before taxes of €14.1m (previous year: €75.7m) for the first six months of 2016. Net income from financial instruments in accordance with IAS 39, generally subject to volatility, amounted to €10.0m (previous year: €63.5m). The considerable decline was primarily due to substantial non-recurring income from the sale of investment securities (the partial disposal of the stake in Wizz Air Holdings Plc) recognised in 2015 and generated by the Bank’s Aviation Investment Management activities.