Halbjahresbilanz: Probleme bei Gewerbeimmobilien: Helaba-Gewinn bricht ein

Germany's third-largest state bank, Helaba, experienced a decline in profits during the first half of the year due to challenges in the commercial real estate sector, leading to a 194 million euro drop in net profit (down from 458 million euro in the previous year), according to its interim report. Helaba CEO Thomas Groß admitted that the half-year results did not meet expectations.

The management lowered the profit forecast for the entire year, anticipating around 500 million euro in net profit, rather than the expected 600-700 million euro range for the previous year. The bank had previously reported record profits in 2026, but the uncertain global landscape has prompted a downward adjustment in Helaba's profit outlook.

The bank will implement cost-saving measures, including restructuring and reorganizing at its subsidiary OFB, which focuses on office real estate development in Germany. OFB faces significant obsolescence risks and already has discussions with its employee council. Helaba expects a reduction in workforce across the group. The bank is set to reduce its headcount in the coming years, primarily due to the adoption of artificial intelligence.

Helaba employs approximately 6,900 people, though Groß did not specify a target figure. The bank attributes its halffinancial results to the ongoing political upheavals, rising market interest rates, and sluggish economic development in Germany. OFB, in particular, is facing pressure from the office real estate market, given the trend of remote work, leading to a decrease in demand for such properties in several countries.

Helaba raised its provision for potential loan defaults by 53 percent to 198 million euro, primarily due to challenges in commercial real estate compared to the first half of 2025.