Deutsche Apotheker- und Ärztebank (apoBank) completed financial 2013 with a net profit of €47.4 million (2012: €45.4 million). It will again propose a dividend of 4% to the Annual General Meeting. At the same time, we continue building up our reserves in order to prepare for more stringent regulatory requirements in the banking sector.
In spite of challenging general conditions in the German banking sector, apoBank posted a stable operating result, performing better than expected in the year under review.
This positive trend is a result of the measures taken in the VorWERTs future programme and the accompanying customer support concept tailored to clients’ different life phases. This enabled apoBank to further increase its customer numbers by a good 8,500 to over 373,000. There was particularly strong customer growth among students. With its new student package, apoBank gained 4,000 new customers in this segment alone. The new Private Banking business segment also posted growth, serving just under 12,700 private banking customers as at the end of 2013. In addition, the number of members increased significantly in 2013 by almost 4,000 to 104,092.
Herbert Pfennig, Spokesman of the Board of Directors: "These are very positive signals. They are proof that our customers and owners place trust in their professional bank."
In the year under review, apoBank sustainably improved its risk profile. It reduced the volume of its structured financial products significantly faster than expected. The remaining volume amounted to just €288 million as at the reporting date (2012: €1.8 billion). apoBank also considerably increased its regulatory capital ratios. The equity ratio rose to 23.0% (2012: 14.4%), the core capital ratio reached 17.0% (2012: 10.4%). apoBank’s hard core capital ratio according to CRR (Capital Requirements Regulation) currently amounts to about 16%. apoBank, which has a balance sheet total of over €30 billion and will in future be directly regulated by the European Banking Authority, is thus well equipped for the ongoing stress tests.
Pfennig: "We have worked hard to achieve a good risk profile and strategically realigned our sales organisation. This is the best basis on which to now focus exclusively on our growth strategy. We are fit to face the challenges ahead and are actively shaping our future."
Due to regulatory requirements, administrative expenses in the current financial year will increase and put a strain on the operating result. Nevertheless, apoBank plans to achieve a higher net profit in 2014 than in the previous year.
"Our future programme VorWERTs combines efficient processes and structures with a clear focus on our customers' needs. We will now start to gradually reap the benefits. Our expertise in the health care sector and the quality of our staff remain our most important competitive advantages," continued Pfennig.