Helaba

Helaba, or Landesbank Hessen-Thüringen, is a German Landesbank that has recently experienced a slight profit decline after three record years. This decline, amounting to 4.8% to a gross profit of 731 million euros, contrasts with record results from competitors like Deutsche Bank, DZ Bank, and Commerzbank. The bank is currently navigating challenges related to its real estate credit portfolio, with nearly ten percent of these loans facing difficulties. While the bank's risk manager asserts early action on the portfolio, Helaba anticipates a further profit decrease. Ingo Wiedemeier, Chairman of the Board of Frankfurter Sparkasse 1822, is transitioning to Helaba as CFO. The bank projects a strong profit increase after 2026, which is expected to be a transition year.