KAS BANK N.V. reported unaudited consolidated earnings results for the first quarter 2016. For the quarter, net result from operations, excluding non-recurring items, over the first quarter of 2.2 million compared to 5.8 million a year ago. Total net result was 0.8 million compared to 4.8 million a year ago.
Revenues declined 16% to 26.4 million compared to 31.6 million a year ago, due to disappointing interest and securities lending returns and lower result on the bond portfolio (result oninvestments).