DUSSELDORF, Germany, Nov. 11, 2004 (PRIMEZONE) -- In the second quarter (1 July -- 30 September 2004) IKB Deutsche Industriebank AG, Dusseldorf and Berlin, increased the result from ordinary activities by 7.4 % to EUR 45 million, compared to the same period of the previous year. After-tax profit was up 15.6 % to EUR 27 million.
Net interest income rose by 7.5 % to EUR 128 million. Net commission income was 10.3% down, at EUR 22 million, as a result of lower advisory fees generated. Administrative expenses were up 11.1%, to EUR 64 million.
At EUR 50 million, the risk provisioning balance slightly exceeded the figure in the second quarter of the 2003/2004 financial year (EUR 48 million). This was within our projections.
Earnings per share (DVFA) in Q2 2004/05 came in at EUR 1.18 EUR (EUR 1,09). Return on equity rose to 15.0% (14.5%). The cost/income ratio stood at 40.1% (38.9%).
The numbers for the first half year (1 April -- 30 September 2004) are: Increase of net interest income by 4.8 % to EUR 249 million, decline of net commission income by 9.1 % to EUR 36 million, rise of administrative expenses by 8.8 % to EUR 123 million, risk provisioning balance down EUR 2 million to EUR 89 million and increase of the result from ordinary activities by 7.1 % to EUR 86 million.
The cost/income ratio for the first half of the 2004/2005 financial year was 41.3% (H1 2003/2004: 39.7%), and return on equity strengthened to 14.4% (14.0%). DVFA earnings per share were EUR 1.13 in the first half (EUR 1.06).
For the current 2004/2005 financial year, the bank continues to forecast the result from ordinary activities in a range between EUR 190 million and 195 million.
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The management board of IKB Deutsche Industriebank AG Dusseldorf, Germany, 11 November 2004.