Eindhoven, August 22, 2019 - DLL, global provider of asset-based financial solutions, delivered continued revenue and portfolio growth during the first half of the year. The company’s focus on partnerships, specialized industry knowledge, digital transformation and innovation contributed to this growth.
The company’s portfolio balance increased by more than 7% over the prior year’s interim results and totaled EUR 34.6 (USD 39.5) billion. During this same period, new business volume was EUR 13.0 (USD 14.7) billion, representing 8% growth over the prior year. This solid commercial growth was realized despite slowing economic conditions and increased price competition emerging in many key markets.
The company recorded net profit of EUR 179 (USD 202) million in the first six months of 2019, a drop of 26% from the prior year. This result was adversely impacted by exceptional items, including a significant one-off income tax reclassification in Europe, in addition to an increase in risk costs. The underlying performance of the portfolio continued to trend positively, with net interest income of EUR 522 (USD 589) million, which represented more than 6% growth over the prior year.