Varengold Bank Advances Amid Transformation in 2024

In 2024, Varengold Bank achieved a pre-tax balanced result of just under EUR 129,000, factoring in special effects. Net income decreased by 23% compared to 2023, reaching EUR 51,288,000. Despite comprehensive cost reductions, administrative expenses remained stable due to severance provisions. Excluding these, a 17.25% reduction from the previous year would have been noted.

The bank's 2024 financial statements reflect a decisive shift by the new management. Several ad hoc announcements revealed the impacts of provisions and adjustments, demonstrating a forward-looking risk management approach. This aligns with the strategic goal of stabilizing the bank for future initiatives.

Chairman Dirk Auerbach affirmed the year's challenges were met with significant progress. Management Board Spokesman Matthias Wargers highlighted 2025 as a year for new beginnings, focusing on fintech and energy transition opportunities, aiming for profitability by 2026.

Collaboration with external experts is refining Varengold Bank's business model, leveraging its expertise in tailored financing solutions. This positions the bank as a specialist entity for innovative companies, targeting sustainable growth and new business frontiers.