Baden-Baden, October 5, 2020: GRENKE AG, a global financing partner for small and medium-sized enterprises, announced today that the auditing company KPMG AG has submitted the status on the cash and cash equivalents. For all bank balances of the GRENKE Consolidated Group, KPMG requested written confirmations from the account-keeping institutions, which includes the Bundesbank, for the two reference dates of June 30, 2020 and September 15, 2020, immediately after the mandate was given. These were validated and evaluated during the past several days.
In detail, KPMG received bank confirmations for the bank balances of 98.5% (EUR 1.06 billion) as of June 30, 2020 and 98.6% (EUR 0.96 billion) as of September 15, 2020. Due to international postal delivery, the outstanding bank confirmations are expected to be received in mid-October 2020.