KAS BANK performed well in the first quarter. Profits rose following a strong development in revenues. Commission income from Asset Servicing contributed in particular to this increase.
22 Apr 2015
- Profit increased to EUR 4.8 million (Q1 2014: EUR 3.5 million)
- In Q1, Assets under Administration increased by 12% to EUR 505 billion. The administrative platform for pension funds and insurance companies investments continued to grow to more than EUR 150 billion
- Revenue increased with 15% to EUR 31.6 million (Q1 2014: EUR 27.4 million); virtually all aspects of our services contributed to this increase
- Cost levels at EUR 25.2 million (Q1 2014: EUR 22.7 million), due to investments in increasing the quality of our services and higher pension costs
KAS BANK performed well in the first quarter. Profits rose following a strong development in revenues. Commission income from Asset Servicing contributed in particular to this increase. The growth of Assets under Administration amounted to 12%, client wins and higher asset values resulted in this increase. These developments are fully in line with company strategy.
Because of the extremely low interest rate, due to the active policy of the European Central Bank, market circumstances can be typified as challenging. Institutional investors are looking for a sufficient return without having to compromise their low risk profile.
We support these investors with their liquidity and collateral management. This has led to a growth in the share of the so-called added value services in the total commission income.
Based on the more stringent Basel 3 regulations, the bank’s solvency and liquidity are also robust and stable.