Capital Markets Business
Our investment strategy concerning securities issued by the public-sector and banks in 2017 was determined by regulatory requirements and very low spreads. Sovereign bonds and covered bonds continue to trade at very high levels due to the ECB’s asset purchase programme.
In accordance with our business strategy, we again limited our capital market dealings in the past year. The net total volume of our existing portfolio was reduced by about € 1.0 billion to € 5.7 billion. Our volume of new business totalled € 25 million in 2017 following € 109 million in 2016.
