SaarLB > Press release > Mid-year review 2022

Landesbank Saar
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66111 Saarbrücken

66104 Saarbrücken

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Landesbausparkasse Saar

Beethovenstraße 35-39
66111 Saarbrücken

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66019 Saarbrücken

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Landesbank Saar
Vertriebsbüro Mannheim
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Landesbank Saar
Vertriebsbüro Trier
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Vertriebsbüro Koblenz
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Succursale de la Landesbank Saar

Résidence Le Premium
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In the Media Roundtable, our Executive Board reports on figures and topics from the first half of the year and looks ahead.

Mid-year review 2022

SaarLB – further increase in new business significantly above the prior year, strong real estate business especially in Germany, improved result in spite of difficult framework conditions, further intensification of Franco-German orientation

  • New business in the amount of EUR 1.35 billion, return to “pre-coronavirus levels” – significant increase of 30% compared to the same time period last year, very strong real estate business
  • significantly improved net interest income of EUR 71.3 million – increase of EUR 5 million compared to the figures from last year
  • Earnings before taxes of EUR 16.1 million significantly above last year
  • Common equity tier 1 ratio (CET1 ratio) improves further and above expectations at 13.4%
  • Further issue of a public covered bond (Pfandbrief) and placement of a first social covered bond (Pfandbrief) in sub-benchmark format
  • Design and implementation of new integrated strategy for France, new Lyon branch due to open at the start of 2023
  • Pôle Franco-Allemand weitet weiter Netzwerk und Aktivitäten aus
  • LBS Landesbausparkasse Saar mit erfreulichen Ergebnissen

Saarbrücken, 29 September 2022: In addition to the coronavirus, the first half of the year was particularly affected by the extraordinary global challenges resulting from Russia’s war in Ukraine. In spite of these difficult framework conditions, we can look back on a good, stable first half of the year, during which we continued the trend from last year and were able to set many new positive priorities.

To give an example, at EUR 1.28 billion and an increase of 34% compared to the figures from last year, our new business in the first six months of the year developed at pre-coronavirus levels. Compared to the stable result in France, on the German market we were able to record significant increases. Especially in real estate, we generated nearly half a billion Euros, more than twice the amount in the comparative period last year, and an extraordinarily good result.

Favourable new business also meant that our interest result improved significantly at a profit of EUR 71.3 million and hence 8% (EUR 5 million) compared to last year.

At EUR 16.1 million, earnings before taxes were significantly above the figures from last year of EUR 13.1 million, an increase of 22%. This major improvement was due, among other reasons, to the much higher operative earnings. The result after taxes was EUR 9.3 million and thus 8% above last year (EUR 8.6 million). Costs continued to be impacted particularly by the further strong rise in the bank levy. Nevertheless, the costs-income ratio (CIR) improved compared to last year.

In terms of common equity tier 1, which is used for the unlimited, immediate cover of risks and potential losses, we were able to further increase the ratio to 13.4%, which is in the upper part of the internal target range and much higher than the regulatory capital requirement (CET1: 8.9%).

After already issuing public-sector pfandbriefe in the sub-benchmark format during the last financial year, we were now able to again place public-sector pfandbriefe on the market in the first half of this year, alongside, for the first time, a social pfandbrief in the sub-benchmark format (EUR 250 million).

“In view of our initial issue of a social pfandbrief in June this year, making us only the third issuing house and the first state bank [Landesbank] to issue such a security, we were of course excited about market interest. The clear over-subscription demonstrated and confirmed to us that with this pfandbrief, we are again on the right track. On the one hand, we are offering investors an interesting security at attractive conditions, and on the other, this is a good instrument for us within our refinancing portfolio”, says Gunar Feth, Deputy Chairman of the Board of Management of SaarLB.

In future, we will reinforce our Franco-German orientation even further through our integrated strategy for France which, among other aspects, sets out the opening of the new branch in Lyon, France’s SME region, at the start of 2023, as well as the creation of a new brand for the French market.

“Our newly developed strategy for France and the resulting actions, our new branch in Lyon and the ‘new’ brand will enable us to fortify our extraordinary business model and our Franco-German orientation even more strongly”, says Frank Eloy, Member of the Board of the Management of SaarLB.

In the digitisation area, we have for some time intensely focused on the important topic of information security. As a result, it was a matter of course for us to organise the “Cybersecurity Day” in 2023 together with other important partners from business, politics and science. At this year’s event held in June, we contributed expert talks and participated in a “Security Hackathon” to promote the development of innovative ideas while also acting as mentor and sparring partner for innovative start-ups. In addition to this external project, we also successfully completed our internal project “IT-ReDesign” in the middle of the year – another important step on the digital path of SaarLB.

“Completing the internal project “IT-ReDesign” a few weeks ago was an important milestone in relation to many of our future digitisation topics. In addition to a number of infrastructural measures in the buildings, all employees were fully equipped in order to create the perfect basis for modern work”, says Dr. Matthias Böcker, Member of the Management Board of SaarLB

Our “Pôle Franco-Allemand”, the forum for cross-border investments, was able to further extend both its partner network and its activities and can look back on a successful first half of the year in which many projects have already been successfully implemented.

In spite of extraordinary challenges, LBS Landesbausparkasse Saar was able to finish the first half of 2022 with encouraging results. For the second half of 2022, Landesbausparkasse Saar is expecting a somewhat flatter demand curve in loan business outside the group, alongside an increase in approvals for building mortgages

Important figures from us at a glance

Net interest income

June 2021June 2022Difference
EUR 66,3 Mio.EUR 71,3 Mio.EUR 5,0 Mio.

Net commission income

June 2021June 2022Difference
EUR 2,4 Mio.EUR 4,6 Mio.EUR 2,2 Mio.

Administrative expenses

June 2021June 2022Difference
EUR 46,0 Mio.EUR 50,0 Mio.EUR 4,0 Mio.


June 2021June 2022Difference
Before taxesEUR 13,1 Mio.EUR 16,1 Mio.EUR 3,0 Mio.
After taxesEUR 8,6 Mio.EUR 9,3 Mio.EUR 0,7 Mio.

Common equity tier 1 (CET1 ratio)

June 2021June 2022Difference

Looking ahead to the coming months and 2023

Even the Chairman of our Board of Management, Dr. Thomas Bretzger, is finding it difficult to make a forecast for the coming months until the end of the year: “The dramatic situation in Ukraine triggered by Russia’s war of aggression, which has lasted since the start of the year, and all of its consequences, will continue to affect us until well after the start of next year. The strain caused by energy shortages and the significant rise in inflation, supply bottlenecks and higher interest rates are significantly slowing down economic development and creating great uncertainty on the markets. But our special business model and our Franco-German orientation mean that we continue to be in a good position to face the upcoming challenges,” says Dr. Thomas Bretzger.

As a Franco-German regional bank, we at SaarLB will continue to position ourselves accordingly in order to remain a reliable employer and stable partner that treats our employees and customers as equals in the future. True to our motto: “Together – Limitless – Strong”.

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Philipp Werthmüller

Communication & Media
Phone: +49 681 383-1264

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Philipp Werthmüller

Communication & Media
Phone: +49 681 383-1264