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Rentenbank plans funding volume of approx. EUR 10 billion in 2025
Frankfurt. Landwirtschaftliche Rentenbank anticipates a funding volume of approx. EUR 10 billion in 2025, to be raised on bond issues with terms of longer than two years.
Rentenbank: Promotional activity impacted by persistent investment restraint
Frankfurt. Compared to the first half of last year, demand for the special promotional loans of Landwirtschaftliche Rentenbank was considerably weaker in the first half of 2024. At EUR 1.5 billion, the volume of new loans granted was a little less than 50% of the year-ago figure. While investment restraint was evident in nearly all the bank’s promotional lines, the greatest declines were registered in its Rural Development and Renewable Energy lines. The demand for credit was dampened both by the sector’s pessimistic expectations for the future and by the currently high level of the EU reference interest rate. Rentenbank raised EUR 4.9 billion in the capital markets to fund its promotional activity. The operating result of Germany’s development agency for agribusiness and rural areas in the first half of 2024 was below the level of the year-ago period. The bank’s capital ratio and leverage ratio remained at high levels.
Rentenbank in 2023: Very good operating result, challenging year for promotional activity
Frankfurt. Landwirtschaftliche Rentenbank encountered lower demand for its special promotional loans in 2023. The volume of new, low-interest promotional loans declined by 13.6% to EUR 5.9 billion (2022: EUR 6.9 billion). The investment restraint exhibited by potential borrowers was confirmed by the findings of the Rentenbank Agriculture Barometer, which provides insights into the current situation and expectations of the German agricultural sector. Rentenbank expanded its portfolio of promotional activities to bolster the sector’s resilience and stimulate necessary investments. It is also developing additional measures to support the necessary transition of the food and agribusiness industry to more sustainable business models and practices. To fund its promotional activities, Rentenbank raised EUR 10.5 billion (2022: EUR 11.8 billion) in medium- and long-term funds in the capital market. The bank’s operating result before provisions for loan losses and valuation effects came to EUR 197.3 million in 2023, well above the level of the previous year (2022: EUR 157.8 million). The bank’s capital ratios remain at very good levels.
