As a listed company active in the capital market, DVB is obliged to prepare its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS).
The single-entity financial statements of DVB Bank SE are prepared in accordance with the German Commercial Code.
The management reports and the consolidated management reports are prepared in line with the structure and criteria set out in German Accounting Standard 20.
Despite robust and valuable new business origination in the Bank’s Transport Finance divisions, significant allowance for credit losses in legacy exposures in Shipping Finance and Offshore Finance have led to a loss of €27.3 million as at 30 September 2016.
CEO Ralf Bedranowsky
© DVB Bank SE 2016
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