DenizBank AG with excellent operating result for 2023

• DenizBank AG recorded a strong operating result for 2023 of EUR 154.2 million. This represents an increase of more than 61% compared to the previous year.
• Net interest income rose by more than 54% to EUR 193.7m.
• The cost/income ratio was reduced by almost a third year-on-year to 25.31% compared to the year before (36,29%), confirming the bank's improved cost structure and increased efficiency.
• The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared to the previous year (4,14%)

DenizBank AG was founded in 1996. As a universal bank, it is subject to the Austrian banking law and is a member of the statutory deposit guarantee scheme for the deposit insurance of Einlagensicherung AUSTRIA GmbH.

In addition to its digital services, DenizBank AG operates 11 branches in Austria and 3 branches in Germany – it is part of the DenizBank Financial Services Group, which since 2019 has been owned by the Emirates NBD Group.

The Emirates NBD Group's network comprises locations in 13 countries. The Group is among the top 30 in the Forbes list of "World's Best Regarded Companies", securing a leading position among global brands.

Strong financial year
Denizbank AG closed the 2023 financial year successfully. Despite the ongoing challenges in the global economy, the bank achieved impressive financial results.

Net interest income increased by EUR 67.97 million or more than 54% to EUR 193.67 million compared to the previous year.

DenizBank AG's operating result increased to EUR 154.24 million, more than 61% compared to 2022 (previous year: EUR 95.58 million).

Total assets at the end of 2023 amounted to EUR 5.64 billion.

The cost-income ratio was reduced by almost a third to 25.31% compared to the previous year (36.29%), which demonstrates the bank's improved cost structure and increased efficiency.

The Return on Equity (ROE) more than doubled to 9,45% in 2023 compared to the previous year (4,14%) further confirming DenizBank AG’s strong profitability.

Specialist for foreign trade financing and commodity trade finance
DenizBank AG, as a specialist in foreign trade financing, business transactions and initiations in the context of dynamically growing bilateral trade and investment volumes, is an important partner for companies and customers with business relationships.

DenizBank AG also provides financing for enterprises' imports of investment goods with insurance from state supported export credit agencies (ECA Credits). DenizBank AG also provides letters of credit for various types of trade financing and has built up a strong and knowledgeable staff to successfully meet the high demand. 

Given the dynamic nature of commodity markets, DenizBank AG also places emphasis on providing tailored financial solutions to commodity traders. By prioritizing commodity trade finance, the bank aims to strengthen its position as a reliable partner in this sector.

Strategic priorities for DenizBank AG 
DenizBank AG’s commitment to digitalization is unwavering. The bank’s upcoming digital strategy, including the launch of new digital products this year, underscores its dedication to innovation. DenizBank AG aims to enhance customer experiences and stay ahead in the rapidly evolving financial landscape.

By enhancing its private banking offerings, the bank acknowledges the importance of personalized wealth management services for high-net-worth individuals. It provides tailored investment strategies and comprehensive advisory services.

The customers of DenizBank AG benefit from the Group-internal synergies within the DenizBank Financial Services Group and ENBD. DenizBank AG’s strategic focus on trade finance, commodity trade finance, private banking and digitalization reflects its commitment to delivering value to clients, fostering growth, and remaining at the forefront of the banking industry.

All figures and data: Austrian UGB
Link to the annual report: https://www.denizbank.de/en/about-us/annual-reports


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This media information is a marketing communication prepared for non-binding information purposes. It is not a financial analysis and does not constitute investment advice or an offer or recommendation or an invitation to make an offer to buy or sell financial instruments, investments or other banking services. This information has been carefully prepared by DenizBank AG to the best of its knowledge and belief. However, it has not been checked and verified by an independent third party; therefore, no guarantee is given with regard to the accuracy, completeness or correctness of the information and opinions contained herein. Errors and misprints excepted.