Postbank asserts itself against intensive competition » MyForex


	Категория: For international users, News
	Postbank asserts itself against intensive competition 30 июля 2007, 21:53
	Deutsche Postbank AG grew further in the first half-year. Against the first half-year of 2006, it increased its pre-tax profit despite financial burdens such as integration costs and the effects of the VAT increase by 6.8 percent to €456 million. Adjusted for one-off effects the pre-tax profit rose by 8.9 percent to €504 million. Return on equity increased from 17.1 percent to 17.5 percent. Due to the ongoing strict cost control, the cost-income ratio improved from 70.1 percent to 68.7 percent. In the classical banking business, i.e. without Transaction Banking, the ratio even declined from 68.5 percent to 66.6 percent. In important product groups, the Bonn-based bank extended its business. In the first half-year, the portfolio of private mortgage loans rose by 7 percent, thus increasing market share by 0.6 percent to 8.4 percent. In a market which declined overall, savings volume, including deposits on mortgage savings accounts and money market accounts, increased by 2.2 percent. Business with pension products was also very successful. The fact that this success was achieved despite intense competition on the German retail market is regarded by the Bonn-based bank as a clear sign that integration is making progress and that sales in particular have gained momentum. Sales accelerate Over-the-counter and mobile sales gathered further pace. In the branches, the focus in the second quarter was pension products which require a high level of advice. As a result of intensive employee training, sales in the first half of 2007 for the Postbank pension account with a business-in-force volume of €423 million or 25,052 new accounts achieved the best result since being launched in 2005. There was also very strong demand for products such as the Riester Pension and PB Sofort Rente with new business volume of €104 million and €29 million respectively. In Mobile Sales, the 480 investment advisors with Postbank Finanzberatung increased commission income year-on-year by 41 percent to €30.7 million. Thanks to the additional 4,000 finance managers at Postbank Finanzberatung, mobile sales forces increased their new business with BHW branded mortgage loans by 13 percent, new business with life insurance by 4 percent and sold just under 21,000 checking accounts. The finance managers also had a considerable share in the sales success of the Postbank Strategy Winner certificate. In the branch business, Postbank continues to cooperate successfully with Deutsche Post AG. In over 5,000 branches it offers basic bank services such as checking and savings accounts. The Post branches made a material contribution to the sales successes, particularly in the savings deposits area. The range of Post services in the Postbank’s own branches is important for Postbank, not only due to the commission income generated. This range is seen by more than one million persons every day in the 850 branches of the Bank. As only just under 20 percent are already Postbank customers, this also offers great acquisition potential for bank products. Success in important product groups In the first six months of 2007, the savings volume, including deposits on mortgage savings accounts and money market accounts, increased against the end of the previous year by 2.2 percent of €1.3 billion to €60.1 billion. As the general German trend is for declining savings deposits, this success is all the more substantial. Particularly successful was the extra deposits campaign from January to March. During this period, anyone paying in new money on a quarterly savings account receives an extra bonus of one percentage point on the standard conditions from April to the end of September. 260,000 customers took part in the campaign and paid in €3.1 billion new money on their quarterly savings accounts. Against the end of 2006, assets in customer securities accounts increased by a pleasing 8.6 percent to €11.4 billion. New business in the area of public funds, certificates and pension accounts increased year-on-year by 2.3 percent to €1.5 billion. Since the beginning of June and up to the end of July, the Postbank has been marketing the Strategy Winner certificate. The subscription volume has increased to €170 million. Due to the very good demand, Postbank is considering issuing a second tranche in the near future. The portfolio of private loans is €66.7 billion, 7.1 percent or €4.4 billion over the level at December 31, 2006. It thus succeeded in increasing its market share by approximately 0.6 percent to approximately 8.4 percent (market data available as of March 31, 2007). With 220,000 private checking accounts sold in the first half-year, Postbank just exceeded the sales level of the equivalent period in the previous year (219,000 accounts). This is particularly pleasing as free checking accounts were the focus of the marketing campaigns of many competitors in the first six months. In a market declining overall, Postbank increased the private credit volume by 8.3 percent to €2.6 billion in the first six months. At €596 million, the new business volume is at the level of the good previous year (-2.3 percent). In the first half year of 2007, Postbank gained 447,000 new customers. It is thus almost at the high level of the previous year (- 4 percent). The Bonn-based bank is thus showing that it can assert its position against intensive competition with attractive offers and a high sales orientation. Development loans in Corporate Banking introduced To June 30, 2007, the Corporate Banking credit portfolio increased by €1.3 billion to €14.9 billion against the end of the previous year. Postbank further extended its product range for small and medium-sized enterprises: Since June, in addition to overdrafts, capital expenditure, working capital and money market loans, it also offers small and medium-sized customers development loans from KfW Bankengruppe. It also offers investment productions, interest hedging instruments and real estate solutions. In this area, more progress was made in expanding sales from a human resources perspective. Integration of HVB in Transaction Banking on track In the second quarter, Postbank settled 1.9 billion payment transactions. With a total of 3.7 billion transactions in the first half-year, it exceeded the previous-year value by 19 percent. A key factor here was assuming the payment business for HypoVereinsbank (HVB) as of January, 2007. Successful progress is being made in integrating HVB payments. The related restructuring measures are on schedule. Outlook Postbank makes no changes to its objectives. By 2008, it wants to achieve a return on equity before taxes figure of more than 20 percent and in its classical banking business a cost-income ratio under 63 percent. To 2009 it wants to achieve a core capital ratio of 7.5 percent. Income statement Total income rose by 2.6 percent as against the equivalent period of the previous year to €2.1 billion. Balance-sheet related revenues, consisting of net interest income net trading income and net income from investment securities, increased by 4.6 percent to €1.4 billion. At €1.1 billion, net interest income was 4.7 percent up year-on-year. In the first half-year, net trading income increased against the equivalent period of the previous year by a pleasing €31 million to €169 million. Thanks to a cautious investment policy, net income from investment securities was €108 million, despite difficult general conditions for interest-bearing positions. At the same time of the previous year, the equivalent position was €128 million. In the first six months of 2007, net fee and commission income declined slightly. It totaled €696 million after €703 million in the equivalent period of the previous year. As expected, growth was held back in particular by a €19 million decline in the sale of postal services and third-party transactions at our branches. This was offset by higher commission income from Transaction Banking, which was up €20 million on the previous year. The allowance for losses on loans and advances increased by 2.3 percent to €176 million in the first half-year. Pleasingly, growth was lower than the rise in credit volume, which expanded by 14.2 percent to €85.3 billion. With €1.4 billion, administrative costs were at the level of the previous year (+ €7 million). The stable development of administrative costs reflects the endeavors of Postbank to expand and optimize its active cost management. Other income and expenses was minus €17 million after minus €4 million in the previous year. With a tax rate of approximately 35 percent, consolidated net profit of €295 million was generated, an increase of 7.3 percent or €20 million year-on-year. Earnings per share thus increased by €0.12 from €1.68 to €1.80. Total assets increased moderately from €184.9 billion as of the end of 2006 to €189.8 billion on June 30, 2007. Once again the balance sheet structure improved.

	0 1 2 3 4 5 (голосов: 0)
	Уважаемый посетитель, Вы зашли на сайт как незарегистрированный пользователь. Мы рекомендуем Вам зарегистрироваться либо зайти на сайт под своим именем.

Напечатать / Комментарии (0)