KfW Bankengruppe was able to increase its consolidated profit in the first three quarters by 30% year-on-year to € 1.2 billion.
In the first nine months of the previous year, KfW posted € 993 million. This result is above the average of the past five years of around € 1.1 billion. [ds_preview]
The promotional volume now stands at € 80.8 billion and is therefore – after the exceptional year 2022 (€ 127.9 billion) – slightly above the level before the outbreak of the war in Ukraine (09/2021: € 73.1 billion).
The volume of domestic production amounted to € 57.9 billion – compared to € 60.3 billion in 2021, but well below the figure for 2022 (€ 112.5 billion). New business in export and project finance, on the other hand, almost doubled and amounted to €20.7 billion.
KfW IPEX doubles new commitments
“The German economy faces enormous challenges in this decade. The transformation will not succeed without additional capital. As KfW, we are supporting the transformation on many levels – for example as a venture capital provider, but also as an anchor investor and financier in the sectors that are important for the future of our country,” says Stefan Wintels, Chief Executive Officer of KfW.
KfW IPEX-Bank, which is responsible for the Export and project finance business sector, is continuing its very good start to the year: At € 20.7 billion, its new commitments at the end of the third quarter remain almost twice as high as in the same period of the previous year (€ 11.7 billion). All business sectors contributed to new business, including financing for offshore wind farms in the North and Baltic Seas.
The “Transport, transport infrastructure” segment accounted for € 6.9 billion – roughly equivalent to the figure for the entire previous year 2022. In addition, there was € 0.8 billion in ship CIRR and from the ERP export financing program.
