Deutsche Apotheker- und Ärztebank (apoBank) achieved a stable net profit after tax of €62.9 million (2017: €61.9 million) in fiscal 2018. On this basis, the Board of Directors will again propose an attractive dividend of four percent to the Annual General Meeting in June. Thanks to a respectable operating result, the Bank was again in a position to make allocations to reserves and strengthen equity capital in 2018 with a view to business growth. After allocations to reserves, the operating result amounted to €113.4 million, in line with expectations (2017: €132.8 million).
In 2018, apoBank continued on its growth path in the health care market. The number of customers increased to 458,770 (2017: 436,260), of which 113,455 are also members and therefore owners of the Bank (2017: 111,494). Ulrich Sommer, Chairman of the Board of Directors: “In 2018, we further expanded our market position in supporting the establishment of medical practices and pharmacies in the health care sector as well as in the Corporate Client segment. In addition, we have driven forward our investment business with retail clients and institutional investors in a difficult market environment.”
The dynamic development in the lending business remained unchanged in the year under review. New lending business, at €7.1 billion, exceeded the already high level from the previous year (2017: €6.8 billion). Driving forces were start-up and real estate financing, as well as loans for companies in the health care market. The new apoPrivat brand, bundling all asset advisory services, met with a good response from health care professionals. This allowed the Bank to gain new customers and new mandates in asset management, especially with its new product apoVV SMART.
apoBank’s capital position remained comfortable during the year under review. The common equity tier 1 capital ratio decreased to 16.7%, in line with business growth as well as following a method adjustment in the internal rating procedure (2017: 19.5%). The total capital ratio amounted to 18.3% (2017: 21.8%).
Dr. Thomas Siekmann, Director of Finance and Controlling at apoBank: “The results for fiscal 2018 prove that it is possible to combine growth and prudent risk policies and generate long-term profit. This was confirmed not least by the ECB in last year’s stress test, which we passed with a good result.”