- Total net result of EUR 5.1 million (Q1 2016: EUR 0.8 million)
- Operating income increased to EUR 28.3 million (Q1 2016: EUR 26.4 million)
- Operating expenses decreased to EUR 21.6 million (Q1 2016: EUR 25.3 million)
- Capital ratio and liquidity ratio remain stable at a high level
26 Apr 2017
In the first quarter of 2017, KAS BANK delivered a good financial performance. The increase in operating income is mainly due to a higher result from foreign exchange transactions and a good result from the available-for-sale portfolio comparing Q1 2016. The cost reduction programme is continuing and the results are according to plan.
In comparison with the first quarter of 2016, we experienced a reduction of 15% in the operating expenses.
|*Including sale of office building 21.2 million (Q4 2016)
** Including IT outsourcing and Restructuring provision
(Q3 2016:EUR 3.2 million, Q4 2016: EUR 9.1 million)
In Q1 2017, KAS BANK has several new client wins in the Netherlands, UK and Germany. We made progress with our strategic ambition to become the best administration bank. We have started several initiatives to improve the quality of our services and expand our product range for institutional investors.