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Offshore Finance – Portfolio

Thanks to our industry-specific expertise, our Offshore Finance division has continuously offered our clients integrated financing solutions and has thus been able to generate overall satisfactory financial results.

Extract from Offshore Finance’s segment report as at 30 Jun 2016

€ mn 30 Jun 2016 30 Jun 2015 %
Net interest income 11.4
12.4 –8.1
Allowance for credit losses –16.7
Net interest income after allowance for credit losses –5.3
Net fee and commission income 4.0 7.2 –44.4
Total income (excluding the IAS 39 result) 1.3 18.9
General administrative expenses1) –1.9 –2.2 –13.6
Net segment income before IAS 39, bank levy, BVR Deposit Guarantee Scheme and taxes   –3.2 16.7
Net segment income before bank levy, BVR Deposit Guarantee Scheme and taxes –3.1 16.7

1)Only those costs are allocated to DVB’s operating business divisions for which they are directly responsible. General costs of operations, overheads or, for example, IT costs, are not allocated to the operating business divisions.

As at 30 June 2016, DVB’s Offshore Finance division had a loan portfolio of €2.2 billion (31 December 2015: €2.4 billion). Since granularity in the portfolio is the key pillar of our risk management philosophy, our Offshore Finance portfolio is well diversified.

Offshore Finance portfolio by asset type as at 30 Jun 2016

DVB Bank's Offshore Finance portfolio as at 30 June 2016
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