KfW supports the German economy in its transformation and is in demand in turbulent times. After the previous year, which was characterized by crisis aid, the funding volume is normalizing.
The state development bank KfW earned above average in the first nine months of its anniversary year. At 1.2 billion euros, the consolidated profit was above the average of around 1.1 billion euros for the past five years and above the result for the same period last year of 993 million euros, as KfW announced on Thursday in Frankfurt.
The institute benefited, among other things, from the increased interest rates and the release of crisis-related blanket risk provisions.
After the previous year’s period, which was characterized by crisis aid, the funding volume was 80.8 billion euros, according to the information, slightly above the level of the years before the Russian war of aggression on Ukraine. Last year, the billions that the federal government decided to spend to secure energy supplies and relieve the burden on households and companies caused the institute’s funding volume to skyrocket.
The German economy is facing enormous challenges this decade, said KfW boss Stefan Wintels. “As KfW, we accompany the change on many levels, for example as a venture capitalist, but also as an anchor investor or financier in the sectors that are important for the future of our country.”
The institute, which is owned 80 percent by the federal government and 20 percent by the federal states and is celebrating its 75th anniversary this year, provides medium-sized companies, home builders and students with low-interest loans in the traditional funding business. There is also export and project financing, the promotion of developing and emerging countries and the subsidiary KfW Capital for investments in start-ups.
Source: Stern
