Varengold Bank AG adjusts previous earnings forecast for the 2024 financial year

Hamburg, 26/03/2025 – Varengold Bank has adjusted its preliminary earnings forecast for the 2024 financial year as a result of ongoing closing entries in the preparation of the annual financial statements for the 2024 financial year. Despite the negative impact of special effects, the business result remains positive. However, the most recently forecast of preliminary and unaudited earnings before taxes (EBT) for the 2024 financial year of EUR 11.3 million will be between EUR 6.25 million and EUR 6.75 million. This deviation is due in particular to additional provisions created for severance payments to the members of the Board of Managing Directors who left at the beginning of March 2025 and for administrative expenses in connection with the special audit pursuant to Section 44 of the German Banking Act (KWG).

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