FRANKFURT (dpa-AFX) - The state-owned promotional bank KfW looks back on a promotional year marked by special measures due to the war in Ukraine. By the end of September, the institution had granted loans and grants with a total volume of 127.9 billion euros. This almost exceeded the record amount of the Corona crisis year 2020 (135.3 billion euros) after only nine months. This Tuesday (10:00 a.m.), the KfW Board of Managing Directors will provide information in Frankfurt on the funding figures for the full year 2022. KfW CEO Stefan Wintels had spoken in November of an "exceptional funding year".

Above all, the enormous sums that the federal government has decided to secure the energy supply and to relieve the burden on households and companies in Germany caused the promotional volume to skyrocket in the past year.

KfW, which has now been in existence for 75 years and is owned by the federal government (80 percent) and the states (20 percent), for example, is providing billions in aid to Germany's largest gas importer Uniper, which ran into difficulties as a result of the Russian attack on Ukraine because Russia is no longer supplying gas to Germany. The development bank also participated in the financing of the new terminal for the import of liquefied natural gas (LNG) in Brunsbüttel, Schleswig-Holstein, on behalf of the German government.

Because KfW is at the same time setting aside more money for possible loan defaults in view of the uncertain economic situation, the promotional bank's profit in 2022 is likely to have been lower than a year earlier. At the end of September, the bank reported a consolidated profit of 993 million euros, just over half the figure for the same period last year. In 2021 as a whole, the development bank had achieved a surplus of a good 2.2 billion euros. KfW plans to provide detailed information on its business figures for 2022 at its annual press conference on March 31./ben/DP/ngu