Hamburg, 27 March 2019 - In 2018, Varengold Bank AG consistently expanded its activities in the strategic fields of Marketplace Banking and Transaction Banking. According to preliminary, non-attested figures, Varengold Bank AG thus closed the financial year 2018 with an annual net profit of EUR 356,574.96 (previous year: TEUR 23). In total, the result of ordinary business activities of Varengold Bank AG amounted to EUR 2,283,410.60 (previous year: TEUR 556). The comparatively high tax result mainly results from tax additions from fund investments as well as disregarded depreciation.
 
For the current year 2019, Varengold Bank's goal is to support its customers even more intensively in Marketplace Banking by expanding their product range especially with fronting services. In addition, the internationalization of Transaction Banking Services should be systematically promoted.
 
The Management Board is optimistic about the further course of the year 2019 given the positive market acceptance of Varengold products. The bank will publish the audited financial statements in June 2019.


Contact:
Ms. Sanja Szabo (Head of Corporate Development)