on Varengold Wertpapierhandelsbank AG (isin : DE0005479307)
Varengold Bank AG Receives Unqualified Audit Opinion for 2022 Financials
Hamburg, 20 June 2024 – Varengold Bank AG has announced that it received an unqualified audit opinion for its 2022 annual financial statements. The audit, conducted by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, was delayed due to ongoing special audits in accordance with Section 44 of the German Banking Act (KWG).
The financial results for 2022 indicate a 18.9% increase in ordinary business activities, amounting to EUR 25.4 million. However, net profit for the year was EUR 9.1 million, significantly lower than the EUR 17.2 million recorded in 2021. Factors such as allocations to banking risk funds and various provisions affected the overall assessment basis for income taxes.
The annual financial statements prepared under the German Commercial Code (HGB) have been approved by the Supervisory Board. The Annual General Meeting, initially scheduled for August 2023, is now set to occur on 13 August 2024. Meanwhile, the audit for the 2023 financial statements is expected to commence in the fourth quarter of 2024.
R. E.
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