DVB GROUP POSTS A MARKED INCREASE IN FIRST-HALF CONSOLIDATED NET INCOME

DVB Bank remained on course during the first half of 2011, boosting its consolidated net income before taxes to €74.9 million, up 26.9% (H1 2010: €59.0 million). DVB’s income (comprising net interest income after allowance for credit losses, net fee and commission income, net income from financial instruments in accordance with IAS 39, results from investments accounted for using the equity method, and net other operating income/expenses) totalled €162.0 million, an increase of 15.8% over the results for the first half of 2010 (€139.9 million). At €112.2 million, net interest income increased by 2.5% year-on-year (H1 2010: €109.5 million). DVB