DGAP-News: comdirect: pre-tax result up by 18% to EUR 29.2m in first quarter - number of customers exceeds 2.7 million
(firmenpresse) - DGAP-News: comdirect bank AG / Key word(s): Quarter Results
comdirect: pre-tax result up by 18% to EUR 29.2m in first quarter -
number of customers exceeds 2.7 million
25.04.2012 / 07:30
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comdirect: pre-tax result up by 18% to EUR 29.2m in first quarter - number
of customers exceeds 2.7 million
Quickborn/Frankfurt/Main, 25 April 2012. The comdirect group closed the
first quarter of 2012 with pre-tax profit of EUR 29.2m. This is a rise of
18% on the previous year (EUR 24.9m). 'We have sustained the success of
2011 with a strong start to 2012. We have achieved a good result and are
continuing to grow,' says Dr. Thorsten Reitmeyer, CEO of comdirect bank.
'Once again, we aim to ensure a balance between increase in value, growth
and profitability in 2012 as well,' adds Reitmeyer.
In the first three months of the year, the comdirect group generated total
income of EUR 88.7m (previous year: EUR 83.6m). This development was mainly
attributable to the increase in net interest income after provisions, which
was up 27% on the previous year (EUR 33.1m) at EUR 41.9m. The rise stems
primarily from lagging effects resulting from higher market interest rates
in previous quarters. At EUR 44.2m, net commission income was down 12% on
the previous year's figure (EUR 50.1m). The first quarter of the previous
year was dominated by greater trading activity on the part of customers
following the events in Japan. On the other hand, the rise in
administrative expenses was low with an increase of 1% to EUR 59.5m
(previous year: EUR 58.7m).
At the end of the first quarter, the total number of customers in the
comdirect group stood at 2.71 million and total assets under custody
amounted to EUR 46.81bn. In the B2C business line (comdirect bank AG) the
number of customers has increased by 12 thousand to 1.64 million since the
start of the year. In the first quarter, assets under custody climbed to
EUR 26.59bn compared with EUR 24.90bn at the end of the previous year. 806
thousand customers had a current account, which is a rise of 32 thousand in
the first three months. In the same period, the number of Tagesgeld PLUS
('call money plus') accounts rose by 22 thousand to 1.26 million and the
number of custody accounts by four thousand to 788 thousand.
In the B2B business line (ebase GmbH), the number of customers serviced
climbed to over one million. Compared to year-end 2011, the rise of 7% to
1.07 million was primarily attributable to the takeover of more than 80
thousand customers of Generali Investments in Germany. Assets under
custody rose to EUR 20.22bn (year-end 2011: EUR 16.69bn).
Once again, comdirect shareholders can expect a dividend. After approval by
the annual general meeting on 9 May 2012, a dividend of 56 cents per share
is to be paid for financial year 2011.
Overview
EUR'000 Q1/11 Q2/11 Q3/11
Net interest income after provisions 33,114 37,205 38,878
Net commission income 50,144 40,308 50,262
Other income 324 374 -1,852
Administrative expenses 58,724 52,322 59,092
Pre-tax profit 24,858 25,565 28,196
After-tax profit 18,235 18,856 20,458
EUR'000 Q4/11 Q1/12 Q1/12 vs. Q1/11Length: 2,456 characters including spaces, excluding table
Net interest income after provisions 40,319 41,892 26.5 %
Net commission income 41,871 44,171 - 11.9 %
Other income 9,203 2,680 727.2 %
Administrative expenses 61,936 59,506 1.3 %
Pre-tax profit 29,457 29,237 17.6 %
After-tax profit 54,214 22,062 21.0 %
All press releases are available at www.comdirect.de/pr
If you no longer wish to receive these press releases, please send an
e-mail to presse(at)comdirect.de.
End of Corporate News
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25.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: comdirect bank AG
Pascalkehre 15
25451 Quickborn
Germany
Phone: + 49 (0) 4106/704-0
Fax: + 49 (0) 4106/708-2580
E-mail: info(at)comdirect.de
Internet: www.comdirect.de
ISIN: DE0005428007
WKN: 542800
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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Datum: 25.04.2012 - 01:30 Uhr
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