Brief: Varengold Bank H1 interest income swings to profit of EUR 0.893 mln

Ascory Bank AG

23/08/2016 12:00

Aug 23 (Reuters) - Varengold Bank AG  VG8G.DE : 
    * According to preliminary, unaudited figures as at 30 June 
2016, Varengold Bank total assets rose to 634.1 million euros 
($718.63 million)(30 June 2015: 626.3 million euros) 
    * Interest income rose from - 1.168 million euros in first 
half of 2015 to 0.893 million euros in same period in 2016 
    * Net commission recorded a significant increase to 5.720 
million euros in first half of 2016, driven particularly by 
strong expansion of prime brokerage activities (30 June 2015: 
1.524 million euros) 
    * Overall, due to strategic refocusing and operational 
improvement measures that have been introduced, management board 
is viewing second half of 2016 with confidence 
    * Income from normal business activities amounted to 1.847 
million euros in first half of year (30 June 2015: - 2.426 
million euros) 
 
Source text for Eikon:  ID:nEQ29xKcSa  
Further company coverage:  VG8G.DE  
 
($1 = 0.8824 euros) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 722 0920;))