Varengold Bank Maintains Course: First Half of 2025 Shows Steady Progress

The midpoint of 2025 marks a phase of alignment for Varengold Bank AG, with earnings before taxes reaching approximately EUR 0.5 million. Despite a decrease due to strategic shifts, including halting payment transactions in commercial banking and audit-related expenses, the bank remains focused on core growth areas.

Net interest income declined by 30% to EUR 15.6 million, partially due to lower income from overnight deposits. Excluding these, core interest income grew 20%. Meanwhile, net commission income decreased by 44% due to strategic realignment, though core commission income doubled when adjusted for effects. Operating income rose by 23%, despite a 29% drop in net income to EUR 18.8 million.

Material expenses significantly increased, aligning with audit efforts, while personnel costs fell by 10%. The bank continues to refine its model, bolstered by external expertise, to focus on lending. Regulatory issues are concluding, with a EUR 3.3 million fine addressed and no further penalties anticipated.