02.06.2025 | Andere
“We are very satisfied with the business performance of our company in 2024. Despite a challenging market environment, our four business divisions Asset Management, Capital Markets, Corporate Finance and Private Banking developed very well. This shows that our strategic approach centered on focus, efficiency and growth is bearing fruit. Last year was not only characterized by geopolitical tensions and technological upheavals, it was also an eventful year for Metzler Bank. We celebrated our 350th anniversary and also bid a sad farewell to Friedrich von Metzler, who shaped our bank for over five decades and laid the foundation for a new generation of management at an early stage. As he would have wished, we are continuing to successfully develop Metzler Bank with foresight and innovative strength,” says Gerhard Wiesheu, Spokesman of the Executive Board of the Frankfurt-based private bank B. Metzler seel. Sohn & Co. Aktiengesellschaft.
The business figures for last year clearly reflect our successful further development. Income increased significantly. Net commission income reflected, among other things, the positive performance of the bank's asset management units.
Metzler Bank's positive business development has continued in the first months of 2025. “With our persistently high capital base, traditionally strong and stable liquidity and our long-term business model, we are ideally equipped for further growth. Our enhanced strategy addresses the right issues, and we are seeing first signs of success. We are consistently pursuing the path we have chosen and are vigorously advancing the development of all four business divisions,” says Wiesheu.
In the Asset Management division, we aim to further expand our market position in 2025, concentrating on the following key strategic issues: retirement provision, sustainability and multi-asset solutions. Our competencies in multi-asset solutions have been successfully bundled, and our offerings now range from strategic asset allocation approaches to risk-oriented solutions with individually defined minimum value thresholds. After a successful year with mandate gains worth around EUR 1 billion, demand remains high in 2025 – especially for overlay strategies, which Metzler has been offering and steadily expanding for many years now.
Our exclusive cooperation with Yielco Investment AG, which specializes in private markets, is also developing very positively. The first closing of our jointly launched “Yielco Metzler Infrastructure Fund IV” is imminent – supported by a broad circle of investors from the networks of both partners. Metzler Asset Management has significant experience in managing pension assets and saw high demand in the mandate business last year. This trend is likely to continue in 2025.
Metzler Pension Management is strategically very well positioned with its corporate pension schemes. Metzler Pension Management combines inter-company trust and pension fund concepts with administrative services and proven investment expertise. The Metzler Sozialpartner Pensionsfonds (MSPF) is Germany’s leading pension provider for defined contribution plans. Further collective agreements are expected to increase the number of pension beneficiaries in the MSPF to around 25,000 from 2026 onwards, underlining the increasing relevance of defined contribution plans as a central type of corporate pension scheme. Our takeover of Nürnberger Pensionsfonds AG is also progressing according to plan. Following the expected closing this summer, the company will be renamed “Metzler Mittelstands Pensionsfonds”. Metzler Pension Management is thus expanding its offerings for small and medium-sized companies and consolidating its position as the largest provider of pension funds in Germany. This is also underlined by the position of Metzler Pensionsfonds (MPF) as Germany’s largest inter-company pension fund.
In the Capital Markets division, investments in research and sales are already having a clear impact. Equity coverage has been expanded and research output has been noticeably increased by doubling the number of analysts in the sectors Renewables/Energy, Technology and Industrials. Global investors have recently shown significantly more interest in German companies – due not least to a new political set-up in Berlin. After years of caution, Germany is increasingly coming back into focus. This is reflected by the growing number of roadshows, heightened sales activity and record attendance at our small and mid-cap conference. The trading volume of German shares has also increased noticeably.
While the ECM business is only slowly gaining momentum again, particularly with regard to German IPOs, the DCM segment is performing very well across the board – including its first co-lead role in an SSA benchmark issue by Investitionsbank Schleswig-Holstein in February of 2025 and recently accompanied issues like SV Werder Bremen GmbH & Co KGaA. The refinancing requirements of companies will continue to increase in the coming years due to transformative challenges in the areas of equity and debt capital. In the fixed income segment, there has been a significant overall increase in activity among institutional clients. Demand for Metzler's FX overlay services remains strong – most recently underscored by the renewed expansion of a mandate from a major Japanese pension fund. Recent currency movements, in particular the weakness of the dollar and its high volatility, have once again heightened investor awareness of the strategic relevance of professional currency management.
The Corporate Finance division is continuing its growth trajectory. In 2025, a new mandates have been acquired in a challenging environment and, contrary to market trends, several transactions have already been completed, e.g. in the sectors Alternative Energy, Consulting, Industrials and IT Services. Referring to sales of consulting companies, Metzler Corporate Finance has underscored its position as one of Germany’s leading M&A advisors with several successful transactions and expects further growth due to ongoing consolidation. The focus remains on supporting owner-managed or family-owned companies – around 80 percent of transactions are in this category. At the same time, Metzler Corporate Finance is a sought-after partner for international investors entering the German market. These good growth prospects were reflected in the expansion of the division's staff last year. Currently, the team is being expanded further at senior level, particularly in the areas of industry and technology. Corporate Finance is also planning to increase business activity in Japan in close cooperation with the bank.
The Private Banking division will continue to consistently pursue its path of strategic growth in 2025. New client potential is to be tapped into through targeted strengthening of client relationship services and further recruitment. This applies in particular to the new location in Berlin, which opened last year and has just moved into new premises. After a successful start, the Berlin team is being expanded further.
The division's client relationship services were bundled under central management on January 1, replacing the previous regional organization. This is expected to trigger new synergies, increase efficiency and further improve proven comprehensive services for wealthy private clients.
In line with the strategy of strengthening growth areas in a targeted manner, the new department Metzler DX (MDX) was launched this year on June 1. Here, the bank bundles its activities relating to digital transformation, blockchain and artificial intelligence. The Digital Asset Office and Digitalmanufaktur have been merged and process experts from Organizational Management have been added – in order to sustainably increase the efficiency, innovative strength and implementation speed of digital processes.
The positive business development is reflected by very good financial performance.
Income increased by more than 10 percent, from EUR 205 million to EUR 229 million. Net commission income rose from EUR 180 million in the previous year to EUR 192 million. While commission income from the asset management units increased significantly, transaction-related commission income was slightly below the previous year's level. Net interest income increased significantly to EUR 33 million in the reporting year after EUR 24 million the previous year.
At EUR 200 million, general administrative expenses at group level were above the previous year's level of EUR 188 million. Personnel expenses for the approximately 800 full-time employees amounted to EUR 131 million after EUR 125 million the previous year – a result of targeted recruitment, higher collectively agreed salaries, general salary increases and higher bonus payments due to good business performance. At EUR 69 million, other administrative expenses were above the previous year's level of EUR 63 million due mainly to planned investments in the bank's systems and application landscape in line with the corporate strategy. The Executive Board is convinced that these investments will increasingly pay off in the years to come and boost efficiency further, e.g. the efficiency of technical infrastructure.
As has been customary for decades, an unchanged dividend of EUR 2.3 million will be distributed from consolidated net profit to the bank's shareholders. Once again, the major portion of consolidated net profit will be used to strengthen the Group's capital base.
The group's total assets amounted to EUR 9.4 billion after EUR 9.9 billion in the previous year. Bonds and other fixed-income securities increased from EUR 1,126 million in the previous year to EUR 1,343 million as of December 31, 2024 due to asset liability management. The portfolios are generally managed in such a way that they remain immune to interest rate risks. The fiduciary position amounted to EUR 6,956 million in the reporting year after EUR 6,887 million the previous year. This consisted almost exclusively of managed pension fund mandates that have increased in number due to new client acquisitions and are subject to fluctuations in market value.
Deposits in the fund for general banking risks in the group remained unchanged at EUR 100 million. The group's reported equity amounted to around EUR 196 million. Overall, the equity components disclosed in the consolidated balance sheet amounted to EUR 296 million, compared to EUR 297 million the previous year.
Metzler's regulatory capital continues to significantly exceed the minimum requirements and consists exclusively of core tier 1 capital. With a core capital ratio of well over 20 percent, Metzler believes it is well equipped to meet existing and future regulatory requirements.
In the Asset Management division, total assets increased from EUR 70 billion the previous year to EUR 77 billion by the end of 2024. Investor behavior showed a mixed picture last year, with inflows of funds into multi-asset solutions. Here, the product categories multi-asset, capital preservation and overlay strategies were particularly noteworthy. The capital markets and inflow of funds performed well, with a corresponding effect on the volumes under management.
Metzler Pension Management acts as a central solution provider in the area of company pension schemes backed by capital and develops customized solutions for corporate pension schemes, working time accounts and partial retirement. As of the balance sheet date, Metzler Pension Management managed a total of around 900 companies with over 130,000 individually managed pension relationships, compared to 780 companies and 100,000 pension relationships the previous year. This resulted in investments for the account and risk of employees and employers of over EUR 18 billion, compared to EUR 16.2 billion the previous year.
The Capital Markets division recorded a pleasingly high increase in business in the equities segment in 2024. On the personnel side, the trading and sales team grew. New client growth accelerated once again compared to the previous year.
Demand from institutional investors for high-quality research from Germany and abroad remained high last year. As planned, the Research team for analyzing German growth industries was strengthened and its expertise further expanded. Acting as a link between German companies and institutional investors from Germany and abroad, this department, with its expanded range of services offered, plays a central role in providing services for the equity and bond markets.
The Corporate Solutions department advised once again on many capital market transactions last year including several capital increases and share buybacks and, for the first time, it provided capital market-related advice in connection with a public takeover. However, the persistent reluctance of investors to invest in IPOs was still noticeable in the market as a whole. The issuing business for corporate bonds developed particularly well. Among others, the team lent advice in connection with the debut bond issued by ABO Energy GmbH & Co. KGaA.
High volatility on the interest rate markets was reflected in broad-based trading activity by institutional clients in the fixed income segment.
Currency Management increased assets under management due to higher valuations of investment assets in existing mandates and the acquisition of new clients in Germany and abroad. Following the good result the previous year, the “FX Protected Carry” strategy, which is geared towards absolute returns, also closed 2024 with a very pleasing result.
A significant contribution to last year's overall result was made by forex trading, which devel-ops customized solutions for managing foreign currencies for global corporate clients, institutional investors and family offices.
The Corporate Finance division won a large number of new projects in the strategically targeted sectors in 2024. This was particularly pleasing, as the M&A market once again recorded significant declines compared to the previous year. The challenging environment led to a substantial number of M&A projects having longer project durations. These transactions are expected to come to a close in the current financial year.
Despite the challenging environment on the M&A market, Corporate Finance once again advised on several very relevant transactions last year. For example, the shareholders of PARAT Technology were exclusively advised on a sale to the senata Group. PARAT Technology is a globally active company for highly functional plastic cladding and structural components whose customers include caravan, construction and agricultural machinery manufacturers.
Corporate Finance also advised Austrian ImWind Group, a pioneer in wind and solar energy, on the sale of a portfolio of renewable energy plants with a total capacity of 130 MW to Wien Energie, Austria's largest regional energy provider.
This division also advised the shareholders of UX Group on the sale of 100% of shares in Steliau Technology. The UX Group is a leading high-tech full-service provider for smart connected devices and offers its customers innovative solutions ranging from development to production.
The Private Banking division performed well in 2024. Both the performance of the portfolios under management and the inflow of new client assets made a positive contribution to this result. Private Banking thus continued its long-term growth trajectory and was able to further increase assets under management.
The focus remained on a clear investment strategy. With equities, bonds and cash, Metzler Private Banking continues to invest in liquid, assessable and transparent asset classes with a focus on Europe and the USA. The investment result of the client portfolios was positive on both the equity and bond sides.
As part of the business division's consistent and future-oriented growth strategy, a new organizational course was set last year. Existing locations in Düsseldorf, Frankfurt/Main, Hamburg, Munich and Stuttgart were supplemented by an additional location in Berlin. This new branch brings Private Banking closer to family businesses, founders and start-ups in Berlin and the eastern German region in order to meet the growing demand for professional asset management and support in the region. Staff was also increased in the other locations, significantly increasing the total number of employees in Private Banking in 2024.
Download
