FRANKFURT, March 5 German cooperative lender DZ
Bank posted a 69 percent rise in pretax profit to
2.2 billion euros ($3 billion)in 2013, its best result ever, and
said plans for a capital increase were on track.
Unlisted DZ, which provides wholesale, clearing and product
services to around 900 cooperative banks, said it expected to
meet any additional capital requirements imposed by the European
Central Bank, which takes over supervision of Europe's big
banks, including DZ Bank, in November.
DZ aims to raise 1.5 billion euros from its cooperative bank
owners this year to meet increasing regulatory capital demands.
DZ Bank and its cooperative banking network compete with the
likes of Deutsche Bank and Commerzbank for
commercial and retail clients.
The bank said business had started well in the first two
months of the year but it would be unlikely to match its 2013
performance this year due to one-off revaluation gains that
boosted 2013 results.