Deutsche Apotheker- und Ärztebank (apoBank) completed the first six months of 2018 with a stable net profit of €31.4 million (30 June 2017: €30.9 million). In a challenging environment, the Bank succeeded in increasing its operating income. Due to the expenditure resulting from the IT migration, which as expected was higher than in the previous year, and extensive allocations to reserves, the operating result amounted to €53.3 million (30 June 2017: €77.7 million).
The growth in customer and membership numbers continued. The number of customers rose to 448,300 (31 December 2017: 436,260), the number of members increased to 112,210 (31 December 2017: 111,494).
In the retail client and corporate client business, apoBank again generated a good level of new lending business in the first six months of 2018. This reached a total of €3.6 billion in spite of ongoing competition, thus again exceeding the previous year’s already very good figure (30 June 2017: €3.4 billion). Customer loans grew to €33.4 billion (31 December 2017: €32.0 billion).
In the commission-based business, the deposit volume of retail clients rose despite stagnating or respectively declining global stock markets, amounting to €8.2 billion (31 December 2017: €8.0 billion). The positive growth trend in asset management also continued. With now approximately 8,700 clients, the total volume of managed assets amounted to €3.4 billion. Nevertheless, commission income was subject to the influence of the new financial market guideline MiFID II. Business with institutional investors was positive. Here, demand remained high for advisory services, such as the development of individual investment strategies or portfolio management. The number of funds in custody and the depository volume also rose.