Annual Report
2010 was a year of contrasts. Worldwide, many companies recovered from the financial crisis. Stock market prices rose as the year drew to a close and the DAX even recorded a gain of 16.1%. Meanwhile, public-sector indebtedness continued to grow, particularly in Southern Europe.
The economic recovery was especially strong in Germany, which resumed its role as Europe’s
leading economic engine. At the year-end, German GDP growth was 3.6%, exceeding most forecasts
issued at the beginning of the year. Making a significant contribution to this were companies with
products in global demand. We see 2010 as the start of a global economic recovery that is likely to
continue despite occasional setbacks. This remains the case even though the impact of the natural
and environmental disaster in Japan and the unrest in North Africa and across the Arab world cannot
yet be foreseen.
In the environment described for 2010, Warburg Bank and its subsidiary institutions in Germany, Luxembourg and Switzerland (Warburg Banking Group) generated aggregate income before taxes of €55.2 million (previous year: €65.7 million). This does not include the income of Schwäbische Bank.
ANNUAL REPORTS OF PREVIOUS YEARS
- Annual Report 2010
- Annual Report 2009
- Annual Report 2008
- Annual Report 2007
- Annual Report 2006
- Annual Report 2005
