Annual balance sheet
Again of profit at Förderbank KfW
More funding, but less profit: The balance of the state KfW banking group has two sides. The institute sees itself well positioned for future billion dollar challenges.
Despite a decline in profits last year, the state sponsoring bank KfW sees itself well positioned for future challenges at home and abroad. “The KfW has a great financial punch. We want to use this to strengthen Germany’s competitiveness and resilience,” said KfW CEO Stefan Wintels in Frankfurt.
This also applies to KfW activities abroad, as Wintels made clear: “Especially in turbulent times and despite the return of budget, we are doing everything we can to support our partner countries in building economic perspectives, protecting climate and environment, fighting poverty and hunger.” The export nation Germany continues to focus on global networking.
Last year, the KfW born by the federal and state governments generated a group profit of a good 1.4 billion euros after around 1.56 billion euros a year earlier. CFO Bernd Loewen declared the decline in the fact that KfW used significantly more own funds in funding last year.
The KfW provides medium -sized companies, house builders and students with low -interest loans in Germany. There are also export and project financing, the promotion of developing and emerging countries as well as the daughter KfW Capital for investments in start-ups. Last year, the KfW banking group submitted a total of 112.8 billion euros in fresh funding and thus a little more than a year earlier (111.3 billion euros).
dpa
Source: Stern
