KfW: New Commitments Up 36% in First Quarter

KfW Bank Group began 2026 with robust performance, committing EUR 24.1 billion in financing during the first quarter. This represents a 36% increase compared to the same period last year, when EUR 17.7 billion was disbursed. The growth was primarily fueled by domestic funding, which reached EUR 17.1 billion.

Demand from small and medium-sized enterprises (SMEs) saw a significant rise for innovation, environmental, and climate initiatives, totaling EUR 4.9 billion. The renewable energy program "Erneuerbare Energien – Standard" also attracted increased interest due to favorable conditions, reaching EUR 3.4 billion. Private customers continued to show strong demand for energy-efficient building financing, including support for heating system upgrades.

In international export and project finance, new commitments amounted to EUR 5.0 billion, an increase from the previous year. KfW Development Bank (KfW Entwicklungsbank) reported substantial growth, disbursing EUR 1.8 billion, largely due to several large individual projects. DEG, KfW's subsidiary focused on private sector investment in developing countries, doubled its commitments to EUR 0.2 billion.

KfW's financial results for the first quarter were strong, with an economic result (before IFRS effects, funding expenses, and taxes) of EUR 594 million, a 50% increase year-on-year. This allowed KfW to deploy EUR 120 million in its own funds to enhance financing terms. The group's net profit was EUR 380 million, significantly exceeding the previous year's earnings. CEO Stefan Wintels highlighted the bank's use of its financial stability to support customers, foster growth, and advance sustainable transformation.