- Total income rose to EUR 783 (2023: 762) million – net interest income up 13% to EUR 752 (663) million
- Group net result of EUR 228 (271) million
- Significant burden from one-off provisions
- CET1 ratio at a strong level of 17.3%
- CEO Luc Popelier: “Further increase in underlying earnings – very strong capital and liquidity metrics – sound profitability”
HAMBURG/GERMANY – Hamburg Commercial Bank AG (HCOB) presented its preliminary financial figures for the 2024 financial year on Thursday and reported IFRS net income before taxes of EUR 248 (prior-year: 427) million. A sustained positive development in the client business with a further increase in recurring income contributed to the result, while high one-off provisions had a noticeable negative impact. Asset quality improved due to proactive portfolio management, and the bank maintained its capital and liquidity metrics at a high level.
“Hamburg Commercial Bank performed well operationally in 2024 and the excellent key figures for liquidity, portfolio quality and capital also reaffirm our diversified business approach,” said Luc Popelier, Chief Executive Officer of Hamburg Commercial Bank. “Our results were significantly burdened by high one-off provisions in the 2024 financial year. Based on our solid sustainable earnings base, strict cost management and excluding negative one-offs, we expect a pre-tax profit of above EUR 300 million for the financial year 2025.” […]
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