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HCOB Global Trade Tracker
China and the US fuel Global Trade
April 18, 2024
Results 2023
March 28, 2024
Hamburg Commercial Bank AG (HCOB) presented its audited figures for the 2023 financial year on Thursday and confirmed its net income before taxes of EUR 427 (363) million along with the other key figures published in February. The robust pre-tax result was achieved – despite a difficult macroeconomic environment and challenging developments on the real estate markets – due to a further noticeable increase in operating income, solid new business and stringent cost management. The bank's capital and liquidity positions remained at a high level.
read moreFebruary 16, 2024
Hamburg Commercial Bank AG (HCOB) is providing the HEREP III real estate fund initiated by international real estate company Hines with financing in the high double-digit million euro range. The funds will be used for the purchase of a 284,000 square meter plot of land and the construction of a total of 115,000 square meters of commercial and industrial real estate in Grimma. The future commercial and industrial park consists of two construction phases, each with six separate rental areas. The building will meet the latest energy standards and the aim is to achieve DGNB Platinum certification (DGNB: German Sustainable Building Council). Construction of the new center is scheduled to begin in the second quarter of 2024 and the facility is expected to be completed by the end of 2025.
read moreFebruary 15, 2024
Hamburg Commercial Bank AG (HCOB) presented its preliminary figures for the 2023 financial year on Thursday. With net income before taxes of EUR 427 (363) million, up 18% on the previous year, the bank continues its strong track record. The robust pre-tax result was mainly due to a further noticeable increase in operating income, solid new business and stringent cost management. Thanks to high recurring earnings and prudent risk provisioning policy, HCOB clearly surpassed the previous year’s pre-tax result and earnings forecast (around EUR 350 million), and this despite a difficult macroeconomic environment featuring geopolitical uncertainties and challenging developments on the real estate markets in the wake of higher interest rates. HCOB’s capital and liquidity positions remained at a high level.
read moreApril 18, 2024
China and the US fuel Global Trade
In February 2024, global trade surged by a robust 1.2% compared to the previous month. Germany's foreign trade appears subdued, while many European neighboring countries can catch up.
Global Trade Tracker ( PDF, 211 kB )April 18, 2024
China and the US fuel Global Trade
In February 2024, global trade surged by a robust 1.2% compared to the previous month. Germany's foreign trade appears subdued, while many European neighboring countries can catch up.
Global Trade Tracker ( PDF, 211 kB )April 12, 2024
A Promising Start to the Year
China will probably start the year at 1.3% QoQ in the first quarter, boosted by a recovering industrial sector. We expect growth of 4.4% in 2024. Restrained by structural problems, we see growth of only 3.6% in 2025.
China Quarterly ( PDF, 691 kB )April 11, 2024
The resilience of the US economy
Despite higher interest rates and prices, the US economy is showing astonishing resilience. Government measures, high wage growth and geopolitical influences are playing a key role in this. However, behind the supposed stability lurk potential risks, particularly in the real estate sector and the upcoming elections.
Wochenbarometer (german) ( PDF, 807 kB )
