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03.05.2024 / Erste Group Research

Kommunalkredit Austria AG

Kommunalkredit Austria AG (Kommunalkredit) specializes in the structuring and financing of infrastructure and energy projects. As a specialist bank, it acts as a bridge between project sponsors (constructors and operators of infrastructure) on the one hand and institutional investors on the other, and benefits from the growing infrastructure and energy market in Europe.

The bank increased its net profit by 28.5% to EUR 100.5mn in the 2023 financial year (2022: EUR 78.2mn). This significant increase is primarily due to the higher net interest income, but net fee and commission income also increased significantly. The increase in income more than compensated for the rise in administrative expenses and the absence of the positive effects from the valuation and realization result and other income.

Kommunalkredit's focus on a diversified refinancing structure remains unchanged. In 2023, the deposit business with private and corporate customers was significantly expanded. Kommunalkredit has investment grade ratings from S&P ('BBB'), Fitch ('BBB-') and DBRS Morningstar ('BBB'). In capital market funding, covered bonds from the public cover pool (S&P rating of 'A+') are the main source of refinancing.

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Základní informace

AutorErste Group Research
Datum03.05.2024
Jazyken
Název produktuCredit News
Hlavní témaPodnikové dluhopisy
Zaostřeno na ekonomikuRakousko
Zaměřeno na měnuEuro
Zaměřeno na sektor-
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