Result maintenance car Bank AG

Vienna (OTS) – The car Bank AG has made in the course of the Work on the preparation of the annual financial statements for the financial 31.12.2018 an assessment of the earnings situation for the past fiscal year 2018. This shows that the result for the year 2018 will be significantly lower on the total year’s projected half-year loss. The leading factors in the changing market environment for mobility funders, as well as incidental and consequential effects of the already implementation of the restructuring of the business model in Germany. The half-year result to 30.06.2018 had reported a first-half loss of EUR -355 with the view to further growth. The publication of the provisional annual financial statements will be made until the end of April 2019.

„We are watching our market very carefully. Ongoing restructuring measures, as is currently already being implemented and the withdrawal from large-scale dealer financing in Germany, are a logical consequence of the changing market environment.“, Gerhard Dangel, sales Executive of the auto Bank AG, expecting a negative result for the year for fiscal year 2018 analyzed. „Capital relief is now a Must for all banks. Therefore, we will stay on our path and continue to be growth opportunities in profitable markets of the future check. Views should thus opportunities arise, we will work on their implementation.“, adds Christian Sassmann, Executive Board for the areas of Regulatory and organizational development.

The current restructuring relates exclusively to the business and dealer partners. For private clients there are no Changes. „As a direct Bank without a branch network, we will continue to the day and to offer money in the best possible conditions, and will remain so in the future, an interesting Alternative for savers who are looking at favorable conditions,“ explains Gerhard Dangel. Currently the car is managed by the Bank in the area of Deposit-taking business. 33.500 satisfied customers. The total sum of managed deposits amounted to approximately 340 million EUR (as of 30.06.2018).

On the car Bank

The car Bank AG, headquartered in Vienna, is one of the leading banks in Austria, for financing questions about the car. Car trading companies in Austria and Germany be able to Finance the car Bank AG, their inventories of New and used cars, as well as their demonstration car. At the same time, the car Bank AG offers for the customers of auto trade companies Vehicle Leasing and financing solutions. For investors looking for attractive terms and conditions, the car Bank AG, investment opportunities and money.

Currently, the car Bank AG cooperates with approximately 600 car trading company, and has over 14,000 Leasing and financing customers. Around 33.500 investors in Germany and Austria put their trust in the car Bank AG currently your day – and money. The car Bank AG has a balance sheet total of approximately 403 million euros by the end of 2018.

contact for questions:
Natalie Oesterreicher
Car Bank AG – head of Marketing
Phone: +43 (0) 1 60190-532
E-Mail: natalie.oesterreicher@autobank.at
www.car Bank.at