- Rise in number of customers and members
- Lending business remains on growth path
- Stronger demand for asset advisory services
- Reserves strengthened once again
- Proposed dividend of 4%
Deutsche Apotheker- und Ärztebank (apoBank) achieved a stable net profit after tax of €61.9 million (2016: €61.0 million) in the 2017 financial year. On this basis, the Board of Directors will propose to the Annual General Meeting an attractive dividend of 4.0% for the year under review once again. The operating result of €132.8 million was below the previous year’s figure, but significantly higher than anticipated (2016: €159.6 million). This includes allocations to reserves, which exceeded the previous year’s already high level.
apoBank continued on its growth path in the health care market in 2017. The number of customers rose to 436,260 (2016: 415,700), of which 111,494 are also members and thus owners of the Bank (2016: 109,680). Presenting the first annual financial statement under his responsibility, Ulrich Sommer, Chairman of the Board of Directors, commented: "In 2017, our plan was to drive forward our start-up financing business and strengthen the investment business with both retail customers and institutional investors. We were successful in both cases."
New lending business reached a record level of €6.8 billion (2016: €6.4 billion). In business start-up financing alone, it grew by almost 20%. The deposit volume of our retail customers rose by over 10% to €8.0 billion. The Bank also intensified its business with corporate clients. With rising customer numbers, loans to corporate clients increased by just under 20% to €3.1 billion.
Thanks to the lively securities business with its customers, the Bank’s net commission income grew by 12.5% to €156.3 million (2016: €139.0 million). apoBank thus largely compensated for the declining net interest income caused by low interest rates.
apoBank’s capital position remained comfortable during the reporting year. The common equity tier 1 capital ratio decreased at a high level to 19.5% (2016: 22.6%). The total capital ratio amounted to 21.8% (2016: 26.1%). This was due to the growing lending business as well as a methodological adjustment in the internal rating procedure in particular.
Dr. Thomas Siekmann, Director of Finance and Controlling at apoBank: "In 2017, apoBank succeeded in combining strong growth with a prudent risk policy. This is due to our sound business model and our many years of experience in the health care sector. It benefits not only us as a bank, in the form of lower risk costs, but also our customers, who gain considerable planning security with our financing solutions."