The key development in Q215 was the already announced crystallisation of the bond portfolio profits, generating a pre-tax gain of €124m. This realised gain is now in regulatory capital. The core business continued to show good growth, especially in the distressed loans and tax receivables units (revenue growth was 9%), and credit quality remained excellent. Further investment has been made to grow existing and new business lines.
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Positioned for strong growth
The key development in Q215 was the already announced crystallisation of the bond portfolio profits, generating a pre-tax gain of €124m. This realised gain is now in regulatory capital. The core business continued to show good growth, especially in the distressed loans and tax receivables units (revenue growth was 9%), and credit quality remained excellent. Further investment has been made to grow existing and new business lines.