Stable first quarter for KAS BANK

  • Sharp rise in operating profit compared to Q1 2013; at €3.5 million, total profit down by about a quarter mainly due to a non-recurring income of about €2 million in 2013
  • Assets under administration up 3% in Q1 to €336 billion due to organic growth in the portfolio. Commission income was stable at €16.7 million (2013: €16.7 million)
  • Restructuring proceeding according to plan. Costs fell by approximately 8% compared with Q1 2013 due to lower expenditure on pensions and hiring in external staff
  • At 25%, capital adequacy remained high based on Basel 3 standards.

Read the full text of the press release Stable first quarter for KAS BANK here (PDF in new window)