In the first six months of 2015, after further allocations to reserves, Deutsche Apotheker- und Ärztebank (apoBank) achieved a net profit after tax of €27.4 million, an increase on the previous year’s figure (30 June 2014: €24.9 million). The operating result amounted to €88.2 million, 10.4 percent up year on year (30 June 2014: €79.9 million).
"We have continued on our growth path both in terms of the result and customer accounts, and we have achieved this despite the fact that interest rates are at a historically low level and the environment for banks continues to be challenging", said Herbert Pfennig, Spokesman of the Bank’s Board of Directors. "So our investments in our sales organisation are paying off. This success is primarily due to the fact that we have tailored our services and bank products even more precisely to the needs of health care professionals. Our customers appreciate this." For example, apoBank expanded its lending business from €2.5 to €3.0 billion compared to the first half of 2014 and deposits by a total of 5.7 percent to €23 billion. Success was also achieved in new customer acquisitions – with an increase to 390,000 customer accounts, apoBank further expanded its already high level of market penetration (31 December 2014: 382,000). New customers included both self-employed and salaried health care professionals as well as students of academic health care professions.
"We also made good progress towards our aim of expanding the investment business", continued Pfennig. More customer advisors and an extended product portfolio both for retail and large customers led to higher commission income overall. Securities volume increased accordingly by 5 percent to €39.7 billion. "We are thus increasingly expanding the significance of the investment business in our income mix."