Deutsche Apotheker- und Ärztebank (apoBank) completed financial 2016 with an operating result of €159.6 million after allocations to reserves, an increase of 4.0% on the previous year’s figure (2015: €153.4 million). In spite of a difficult environment, the Bank once again succeeded in expanding its reserves. Net profit after tax rose by 3.2% to €61.0 million (2015: €59.1 million). On this basis, the Board of Directors will propose an attractive dividend of 4.0% to the Annual General Meeting.
In a banking market characterised by strong competition, apoBank continued to gain new members and customers, further consolidating its leading position in the health care market. The number of customers increased to 415,700 (2015: 397,000), of which 109,680 are also members and thus owners of the Bank (2015: 107,768). Herbert Pfennig, Chairman of the Board of Directors: “We are sticking to our growth strategy in the customer business. We are making targeted investments in sales and hired more than 60 new customer advisors in 2016 alone. This philosophy is paying off: Both in the lending and securities business with our customers, we are on a steady growth path and are once again demonstrating the high fundamental profitability of our bank.” New lending business increased again compared to the previous year, amounting to €6.4 billion; the demand for real estate financing was particularly high. In the area of business start-up financing, the Bank maintained its leading market position. A significant rise was also recorded in lending to corporate clients.
apoBank continued to expand the securities business with its customers. Net commission income increased to €139.0 million (2015: €133.0 million). "Our multiple-award-winning asset management was very popular. In addition, we gained new mandates from institutional investors, not least due to our customised advisory services," says Pfennig.
The operating profit, i.e. profit before risk provisioning, reached €249.2 million and thus remained below the previous year’s level as expected, due to the current low-interest rate environment (2015: €304.8 million).
apoBank’s capital position remained comfortable during the reporting year. The common equity tier 1 capital ratio rose slightly to 22.6%. The total capital ratio was 26.1%.
Dr. Thomas Siekmann, Director of Finance and Controlling at apoBank: "apoBank has gained a solid risk profile in recent years. This was reaffirmed by the ECB last year in its stress test, which we completed with above-average results. Therefore, our growth strategy is based on a firm foundation."