06 Feb '11, 10pm

Germany's DVB expects rise in revenue from Asia: ... so we are looking at assets that suit us the best and will

SINGAPORE - With the centre of global trade and commerce heading East, Germany's DVB Bank - a specialised lender to the transportation business - expects more revenue from Asia in the coming years, led by expansion of aviation and shipping industries in China. DVB Bank, which handles 120 to 150 transactions in a year, is seeing good demand for shipping and aviation financing globally. In the first nine months of last year, the financier's consolidated net income before taxes jumped 53 per cent from a year earlier to €119 million ($206 million) as interest income increased and allowance for credit losses fell. About a quarter of DVB Bank's business in Asia originates from its Singapore hub, which oversees the Malaysia, Korea, China and India markets. The opportunity in Asia is staggering but the business requires taking a long-term view. DVB Bank chief executive officer Wol...

Full article: http://www.todayonline.com/Business/EDC110207-0000122/Ger...

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