Quarterly balance sheet: KfW: Less billions in funding and more profits

In the first nine months of the current year, the state development bank KfW provided significantly fewer fresh billions to support businesses and private individuals than in the previous year. After 80.8 billion euros a year ago, it was 53.9 billion euros in 2024 up to and including September, as the institute in Frankfurt, which is supported by the federal and state governments, announced.

In recent years, massive aid during the Corona crisis and then the billion-dollar packages approved by the federal government to secure energy supplies and to relieve the burden on households and companies after the start of the war in Ukraine have driven up KfW’s funding volume. In 2023 as a whole, the banking group’s funding volume was 111.3 billion euros.

Despite the now reduced volume, the development bank earned more than the year before: at a good 1.28 billion euros, the consolidated profit after three quarters exceeded the previous year’s figure by 60 million euros. “Our consolidated result shows a positive development. This is important because only strong financial strength creates the basis for us to continue to effectively support the economy and society in the future,” said KfW CEO Stefan Wintels. In 2023 as a whole, KfW achieved a net consolidated profit of around 1.56 billion euros.

In its traditional development business, KfW provides medium-sized companies, house builders and students with low-interest loans. There is also export and project financing, the promotion of developing and emerging countries and the subsidiary KfW Capital for investments in start-ups.