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Rentenbank appoints Co-Heads Treasury
Effective from May 1, 2008, Stefan Goebel and Norbert Schlereth have been appointed by the management board of Landwirtschaftliche Rentenbank as senior vice presidents and co-heads treasury. In this position they succeed Dr. Horst Reinhardt who became a full member of the promotional bank's management board as of October 1, 2007. In their new function they will have joint responsibility for treasury management and risk management. Additionally, Goebel will focus on investor relations and funding, Schlereth on asset business. Goebel and Schlereth previously were co-heads of funding and asset...
read moreBusiness year 2007: Rentenbank increases profits and promotional lending
Landwirtschaftliche Rentenbank, Frankfurt am Main, further increased its promotional lending, income and profits in 2007. Total assets (according to German accounting standards [HGB]) grew by 7.1 percent from €82.5 billion to €88.8 billion. The Management Board expects the operating result (before risk provisions) to rise by 8.6 percent to €201.2 million. The cost/income ratio improved further to 16.3 percent (17.2 percent). "These results reflect our successful sustainability-orientated strategy and have once again enabled us to disburse a larger volume of promotional loans", stressed Dr...
read moreRentenbank planning to raise approximately EUR 11bn in 2008
Landwirtschaftliche Rentenbank is planning to raise the equivalent of approximately EUR 11bn of medium and long-term funding in 2008. This figure includes all transactions in the capital markets with maturities of more than two years. The promotional bank is likely to once again issue four benchmark bonds in the coming year in medium-term maturities with a minimum volume of EUR/USD 1bn. In addition, Rentenbank is planning to issue liquid transactions in other currencies. Benchmark funding will be complemented by smaller public issues and private placements in various currencies and differen...
read moreDr. Marcus Dahmen succeeds Dr. Uwe Zimpelmann
Dr. Uwe Zimpelmann (64), spokesman of the management board of Landwirtschaftliche Rentenbank, Frankfurt, is retiring on September 30, 2007. Since 1986, he has been a full member of the management board of this promotional bank for agriculture and rural areas. During this term, he has been in charge of issuing business, personnel, legal matters and public relations.Effective from October 1, 2007, Dr. Marcus Dahmen (42) becomes a full member of the management board of Landwirtschaftliche Rentenbank. He was head of the department “Public Sector Germany” and member of the management board “GERM...
read moreDr. Marcus Dahmen has been appointed as the future spokesman of the management board
Dr. Marcus Dahmen (42), currently head of Public Sector Germany and member of the management board GERMAN MID CAP, Deutsche Bank AG, Frankfurt, has been appointed by the advisory board of Landwirtschaftliche Rentenbank, Frankfurt, as the future spokesman of the management board of the promotional bank. Marcus Dahmen will take up the position on 01.01.2008 at the latest and will then replace the current spokesman, Dr. Uwe Zimpelmann (64). The advisory board thus fulfilled the latter's wish to retire at the end of the year at the latest.After completing his studies in economics and gaining hi...
read moreHalf-Yearly Financial Report 2007: Improved profitability allows higher promotional volume
In the first half year of 2007, new business for special loans 25 % over the previous year, buoyant issuance activity, interest surplus and operating result slightly increased, group cost-income ratio falls from 15.7 to 14.4 %. The business performance of Landwirtschaftliche Rentenbank, based in Frankfurt am Main, was denoted by buoyant new business and a slightly improved profitability in the first half of 2007. As the promotional bank for agriculture and rural areas states in its half yearly report published today, it was again possible to grant more financing for promoting agriculture...
read moreRentenbank starts the year 2007 with a high promotional volume and favourable cost and profitability development
First quarter 2007: Demand for promotional loans at a high level; brisk issuing activity; profitability improved once again Business year 2006: Medium and long-term promotional loan portfolio grew by 5.3 %; operating result and net interest income slightly above the previous year; cost-income ratio at 17.2 % Dr. Uwe Zimpelmann, Chairman of the Board of Managing Directors of Landwirtschaftliche Rentenbank, the promotional bank for agriculture and rural areas based in Frankfurt am Main, presented a positive balance sheet for both the financial year 2006 and the first quarter 2007. At the pr...
read moreRentenbank's business year 2006: Increased promotional business and stable profitability
New promotional business increases to € 14.5 billion; the balance sheet medium and long-term promotional loan portfolio increases by 5.3 % to € 36 billion Net interest income and operating result slightly above the previous year's level, cost-income ratio 17.2 % (17.1 %) Total assets reach € 82.5 billion (€ 77 billion) Landwirtschaftliche Rentenbank, Germany's agency for agriculture and rural areas based in Frankfurt/Main, showed once again an increase in new promotional business and slightly improved profitability in the business year 2006. In particular, there was a higher demand for st...
read moreImplementation of Basel II leads to zero risk weight for Rentenbank issues
With the introduction of the new Solvency Regulation (Solvabilitätsverordnung, SolvV) as of 1 January 2007, German banks will no longer have to back their holdings of Rentenbank issues with equity capital. According to § 28 of the Solvency Regulation, funding raised by Rentenbank will be treated equal to issues of the Federal Republic of Germany for risk weighting purposes. The new regulation transforms the Basel II rules which stipulate significantly more risk-sensitive capital requirements than the previous guidelines into German law. Due to the amended EU Banking Directive, the German de...
read moreRentenbank plans to raise approximately EUR 11 bn in 2007
Landwirtschaftliche Rentenbank, Germany's agency for agriculture and rural areas, today announced its issuing plans in the Australian Dollar domestic market for 2007. Rentenbank aims to raise up to A$ 2bn for its medium and long-term funding via its A$ MTN Programme, unchanged from the ceiling planned for 2006.Issuance is likely to include increases of outstanding transactions as well as new issues to further complete and extend Rentenbank's yield curve. Net issuance in 2007 will not exceed A$ 1.5bn as A$ 500m of 5.50% Notes will be due on April 16, 2007.The 6% Notes due Sept. 15, 2009 will...
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