April 3, 2014 / 8:42 AM / 3 years ago

Helaba says well prepared for ECB's bank health checks

1 Min Read

FRANKFURT, April 3 (Reuters) - German public-sector lender Helaba said it was well positioned for the European Central Bank's health checks later this year after increasing its core tier 1 capital ratio to 12.8 percent in 2013.

Helaba said on Thursday its 2013 net earnings rose 11.3 percent to 354 million euros ($487 million).

But the Frankfurt-based lender cautioned that profits would fall this year due to the continued low interest rate environment and the costs of complying with stricter rules. ($1 = 0.7263 Euros) (Reporting by Arno Schuetze; Editing by Ludwig Burger)

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