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November 9, 2009

Landesbank Berlin releases interim report

by Richard Kilner

Story link: Landesbank Berlin releases interim report

Landesbank Berlin Holding AG has published its interim report for the first nine months of the year.

The bank saw its pre-tax profits hit €306m, a huge increase on the paltry €3m pre-tax earnings recorded in the same period in 2008, when the financial crisis had a significant impact on the firm.

For the first six months of the year the bank made pre-tax profits of €218m.

Earnings after taxes were also up, from €11m to €244m for the year’s first three quarters.

Chairman Dr. Johannes Evers has said that business is continuing to develop well, and expressed his satisfaction with the results, particularly given the ongoing challenges of the operating environment.

However, Dr. Evers indicated the bank would retain a cautious approach into the immediate future and warned that the effects of the financial crisis were far from over.

 

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