VR Diskontbank, the German-based co-operative bank offering financial services in the areas of factoring and central regulation, last year showed turnover down by 8 per cent to DM22.5bn in a year-on-year comparison. Annual surplus, however, leapt from DM1.53m to DM 4.32m.
Turnover from central regulation business slipped to DM15bn, but the bank still heads the market in this field. Turnover from factoring business remained stable at DM7.5bn. The balance sheet total at the end of 2001 stood at DM1.23bn.
Source: Borsen Zeitung/FT
