Investor Relations News
In the first half of 2021, the DZ BANK Group generated a profit before taxes of €1.83 billion (first half of 2020: €557 million). This very good result is attributable to a very satisfying business performance in virtually all entities and a risk situation that remained unremarkable. Another contributing factor was the uptrend in the capital markets.
DZ BANK Group participated in the EU-wide stress test conducted by the European Banking Authority (EBA) in cooperation with the European Central Bank (ECB) and the European Systemic Risk Board (ESRB). The EBA announced the results of its 2021 stress test today and DZ BANK has achieved solid results.
In 2020, the DZ BANK Group generated a profit before taxes of €1.46 billion (2019: €2.66 billion). The group, which is part of the cooperative financial network, has therefore coped well with the effects of the COVID-19 pandemic so far and met its earnings target of approximately €1.5 billion, which had been set before the pandemic.
Thanks to its strong capital and liquidity position, DZ BANK AG announces today that it will terminate and redeem all outstanding Tier 1 instruments that have been issued by DZ BANK via special purpose vehicles. The termination and redemption refers to a total volume of issuances of € 1,410.3 million. “With this decision, DZ BANK is taking a further step in aligning its capital structure with the new supervisory regulations as part of an efficient capital management”, says Wolfgang Köhler, member of the executive board and responsible for Capital Markets.