In 2008, its first year of legal independence, KfW IPEX-Bank GmbH achieved strong growth in its volume of new business, which totalled EUR 12.1 billion as at the end of November.
In addition, for the account of KfW it conducted export and project financing transactions in the amount of approx. EUR 4.1 billion (transactions conducted on a trust basis). In this way, KfW IPEX-Bank is making an important contribution to KfW's legal mandate to promote the German and European economy.
Heinrich Heims, Speaker of the Board of Managing Directors, reported on the business development and results of 2008 in Frankfurt on Monday. By the end of November, the bank had exceeded its goal for the year, with new commitments adding up to a good EUR 12 billion. In its business it aims to establish a balanced regional distribution of its portfolio. "To achieve this we seek to divide our portfolio into thirds representing Germany, the rest of Europe and regions outside Europe", announced Heims. "Outside Europe we focus primarily on markets and customers with which we have mostly had a good business relationship over many years."
In its domestic business KfW IPEX-Bank has committed over EUR 3.7 billion altogether, with finance for German shipping companies, manufacturing and commerce accounting for the largest share. In Europe the bank has committed new loans totalling EUR 5 billion. Its new commitment volume reached EUR 3.4 billion in the regions outside Europe.
During 2008 KfW IPEX-Bank also broadened its network of representative offices by adding Johannesburg, and an office in Abu Dhabi is currently under foundation. Another major step was the conversion of the London representative office into a branch which will specialise in financing infrastructure projects.
By the end of the third quarter on 30 September, the balance sheet total of KfW IPEX-Bank was EUR 52.8 billion. The earnings from operations - net income and commission income - were well above the level of previous years.
Given the cyclical downturn, monitoring the loan portfolio will be especially vital in the new year. This will also necessitate higher risk provisions. "We benefit from the fact that the loan portfolio of KfW IPEX-Bank is well diversified in risk terms thanks to our regional and sectoral market strategy. Besides, we hold valuable collateral as well as state guarantees in our export finance business and for direct investments by German companies abroad", added Heims.
"But we are also prepared for a rise in the number of critical loans that is sure to occur next year."
For 2009 Heims expects lower demand for financing as businesses put off or cancel investment projects, but also a reduced supply of credit as a result of the financial market crisis. For KfW IPEX-Bank he anticipates that new loan commitments will decline to around EUR 8-10 billion in 2009. This planning scenario takes account of the fundamentally new situation in the market. Although the business volume will not reach the current year's level, it will still reflect the original envisaged growth path. "First and foremost we want to show that we intend to stay consistently in line with the market", said Heims.
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of October 2008) and is represented in the key economic and financial centres across the globe.
Dela Strumpf | presseportal
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
For the first time ever, scientists have determined the cosmic origin of highest-energy neutrinos. A research group led by IceCube scientist Elisa Resconi, spokesperson of the Collaborative Research Center SFB1258 at the Technical University of Munich (TUM), provides an important piece of evidence that the particles detected by the IceCube neutrino telescope at the South Pole originate from a galaxy four billion light-years away from Earth.
To rule out other origins with certainty, the team led by neutrino physicist Elisa Resconi from the Technical University of Munich and multi-wavelength...
For the first time a team of researchers have discovered two different phases of magnetic skyrmions in a single material. Physicists of the Technical Universities of Munich and Dresden and the University of Cologne can now better study and understand the properties of these magnetic structures, which are important for both basic research and applications.
Whirlpools are an everyday experience in a bath tub: When the water is drained a circular vortex is formed. Typically, such whirls are rather stable. Similar...
Physicists working with Roland Wester at the University of Innsbruck have investigated if and how chemical reactions can be influenced by targeted vibrational excitation of the reactants. They were able to demonstrate that excitation with a laser beam does not affect the efficiency of a chemical exchange reaction and that the excited molecular group acts only as a spectator in the reaction.
A frequently used reaction in organic chemistry is nucleophilic substitution. It plays, for example, an important role in in the synthesis of new chemical...
Optical spectroscopy allows investigating the energy structure and dynamic properties of complex quantum systems. Researchers from the University of Würzburg present two new approaches of coherent two-dimensional spectroscopy.
"Put an excitation into the system and observe how it evolves." According to physicist Professor Tobias Brixner, this is the credo of optical spectroscopy....
Ultra-short, high-intensity X-ray flashes open the door to the foundations of chemical reactions. Free-electron lasers generate these kinds of pulses, but there is a catch: the pulses vary in duration and energy. An international research team has now presented a solution: Using a ring of 16 detectors and a circularly polarized laser beam, they can determine both factors with attosecond accuracy.
Free-electron lasers (FELs) generate extremely short and intense X-ray flashes. Researchers can use these flashes to resolve structures with diameters on the...
13.07.2018 | Event News
12.07.2018 | Event News
03.07.2018 | Event News
17.07.2018 | Information Technology
17.07.2018 | Materials Sciences
17.07.2018 | Power and Electrical Engineering