ApoBank is currently running an efficiency and savings program, which measures consist of a large-scale IT renewal and changes in personnel policies. Some EUR 40 million costs still remain in the IT conversion in 2012. In addition, risk products are degraded by further depreciation, though the provision had to increase due to higher loan volumes. Overall, as a half-year result, the surplus stands at EUR 23.5 million, and therefore, the previous year value will be recovered. For the full year, CEO Herbert Pfennig reported a total profit of EUR 43 million, and thus the distribution of a dividend.
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