KfW IPEX-Bank has recorded its most successful financial year since it was founded in 2008, with the bank able to increase its new commitments in 2023 to €24.2bn ($26.22bn) from €18.1bn ($19.61bn) in 2022.
KfW IPEX-Bank also recorded a contribution to earnings of €540 million ($585 million), “thereby securing KfW’s long-term promotional capacity,” explained CEO Belgin Rudack. “Our purpose in 2024 remains the same: to shape a sustainable future and strengthen European and German companies on global markets,” he added. “What is more… we are able to mobilise private capital to achieve this ambitious goal”. Of its new commitments, €23.3bn ($25.2bn) relate to original lending business while €0.9bn ($0.97bn) are for bank refinancing.
In 2023, the bank regrouped its seven sector departments into four, alongside shifting its focus on ‘financing technologies of the future’ (including wind farms, photovoltaic systems, and projects to produce battery cells, green hydrogen and green steel).
KfW IPEX-Bank reports record new business in 2023
