UmweltBank - Awaiting an earnings inflection point
UmweltBank’s (UBK’s) preliminary FY18 numbers confirm the continuation of healthy lending business and deposit base growth, but also further interest margin compression. The additional tier 2 capital raised recently (€45m in total) provides a solid foundation for further loan book expansion, which together with gradually diminishing pressure on margins could translate into UBK’s earnings momentum turning positive in 2020. The planned launch of new products in 2019 and 2020 (such as the sustainable consumer credit) may provide some additional tailwinds, but may also translate into a temporarily higher cost income ratio (CIR).UmweltBank AG is a Germany-based bank that provides financial services focusing on the ecological sector in Germany. The Bank offers online banking, loans, real estate credit, project financing, insurances, investment advice and investment management. It also co-finances various environment projects.
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