Interim Report: business volume reduced by more than EUR 10 billion
The positive development of fiscal year 2017 continued in the third quarter: the EAA reduced the notional volume of the loan and securities portfolios by more than 16% in the period from January to September, while the trading portfolio contracted by almost 18%. As a result of the rapid progress made in reducing the portfolio, the EAA’s total assets fell by more than EUR 9 billion from the start of the year. The business volume, which in addition to total assets comprises contingent liabilities and irrevocable loan commitments, declined by more than EUR 10 billion during the same period.
The success in winding up the portfolio did not come at the expense of the result. In fact, net profit rose slightly at the end of the third quarter to EUR 10.7 million. The EAA continues to benefit from the positive contribution of long-term restructuring measures to results and from the favourable capital market situation. Its administrative expenses were also lower; at around EUR 128 million, the figure for the period from January to September was down almost 20% on the comparable period of the previous year.