Varengold Bank AG: Forecast for the 2021 financial year


Varengold Bank AG / Key word(s): Forecast/Miscellaneous
Varengold Bank AG: Forecast for the 2021 financial year

14-Jun-2021 / 12:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Hamburg, 14 June 2021 - Varengold Bank AG (symbol: VG8) is planning for strong growth in earnings in the Transaction Banking segment for the current fiscal year, as well as high demand for the bank's products and services for the rest of the year. On this basis, the Management Board today deducted an earnings forecast for the fiscal year 2021 from the current business planning. Based on current knowledge, the bank expects earnings before taxes (EBT*) as a key performance indicator to be EUR 16,4 million. In 2019, EBT was EUR 3.6 million and for 2020 EBT (preliminary) was expected to be EUR 1.8 million.

Dr. Bernhard Fuhrmann
Management Board

Frank Otten
Management Board

* EBT (earnings before taxes) is defined as period result before deduction of income taxes.


This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Ms. Sanja Schultz-Szabo (Head of Corporate Development)

14-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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