Reorganisation costs moderate KAS BANK total profit

  • Total profit 13% lower at EUR 12.3 million as a result of reorganisation costs of approx. EUR 8 million gross; excluding the reorganisation costs, total profit amounted to EUR 18 million, an increase of more than 25%
  • Banking result at EUR 12.8 million approx. 10% higher than in 2012, operating profit one third lower, primarily as a result of lower market interest rates
  • Revenue fractionally lower, partly as a result of a 14% diminution in interest income. Assets under Administration increased by 7% in 2013 to EUR 325 billion
  • Operating costs (excluding non-operational items, including the reorganisation costs) were 3.5% lower in comparison with 2012
  • BIS ratio rose to an average of 23% (2012: 21%); leverage ratio at year-end 2013 well above 5%
    Dividend proposal for 2013 unchanged, at EUR 0.64 per share, representing a pay-out ratio of more than 75%

Read the full text of the press release including the Consolidated Balance Sheet and Consolidated Income Statement (PDF in a new window).