• Sustainable operating income: net interest income up 29% – total income of EUR 383 (H1 2023: 375) million
• Group net result of EUR 111 (178) million
• Noticeable burden from one-off effect of EUR totaling 62 million
• CET1 ratio at a strong level of 17.1% (31/12/2023: 19.5%)
• Portfolio acquisition strengthens Shipping business
HAMBURG/GERMANY – Hamburg Commercial Bank AG (HCOB) presented its financial figures for the first half of 2024 on Thursday and reported net income before taxes of EUR 129 (prior-year period: 230) million. A positive development in the client business and strict cost discipline contributed to the solid result. At the same time, a negative one-off effect outside the ordinary course of business had a noticeable impact on the result, leading to an adjustment of the earnings forecast for the full year. The bank maintained its capital and liquidity positions at a high level.
“Hamburg Commercial Bank has made a good operational start to the current year, with positive margin development in all client segments,” said Ulrik Lackschewitz, Chief Executive Officer of Hamburg Commercial Bank. “Our diversified and resilient business model is sustainably profitable, and we have further strengthened our earnings base with the acquisition of the shipping portfolio in June.” […]
For more information, please refer to the complete press release attached (PDF).
