Image: (REUTERS)
The return on equity (RoE) after taxes increased from 22.3 percent in 2022 to 25 percent in the previous year. The new business volume in the infrastructure and energy sector (including public finance) was 1.81 billion euros, as Kommunalkredit announced on Friday.
As of December 31 of the previous year, the common equity Tier 1 capital ratio was 17.9 percent and the total capital ratio was 21.4 percent. All investment grade ratings have a positive outlook, it was emphasized in a press release.
International projects
In 2023, Kommunalkredit will, among other things, be involved in the financing of water treatment plants in Italy, the construction of wind farms and photovoltaic systems on the Iberian Peninsula, Romania, Hungary and Finland, as well as the transformation towards sustainable electricity generation in Germany and the expansion of broadband initiatives in Spain and Serbia contributed.
The bank’s supervisory board appointed Nima Motazed as Chief Technology Officer/Chief Operating Officer (CTO/COO) as of July 1, 2024. He previously worked at SwissRe, NLB, Citigroup and Erste Bank, among others. The board will then consist of Bernd Fislage (CEO), Sebastian Firlinger (CFO/CRO) and Motazed.
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Source: Nachrichten
