DVB posts 1st quarter results

DVB posted consolidated net income before IAS 39 and taxes of €44.7m for the first quarter of 2013, up 20.5% year-on-year (Q1 2012: €37.1m). Total income (comprising net interest income after allowance for credit losses, net fee and commission income, results from investments in companies accounted for using the equity method, and net other operating income/expenses), rose by 4.9%, to €86.0m during the first quarter of 2013 (Q1 2012: €82.0m). Net result from financial instruments in accordance with IAS 39 showed a marked swing to €1.3m (Q1 2012: €–15.1m), reflecting the volatility levels prevailing on foreign exchange and interest rate markets.