DGAP-News: Shareholders of DAB bank to enjoy a higher dividend
(firmenpresse) - DGAP-News: DAB bank AG / Key word(s): Final Results/Preliminary
Results
Shareholders of DAB bank to enjoy a higher dividend
28.02.2012 / 07:30
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Shareholders of DAB bank to enjoy a higher dividend
Profit before taxes of EUR25.73 million in financial year 2011 / Proposed
dividend of 22 cents per share, corresponding to full distribution of
distributable profit / Trades executed for customers up 13% from 2010
Munich, February 28, 2012. The DAB bank Group, Munich, generated a profit
before taxes of EUR25.73 million in financial year 2011. The decrease from
the prior-year figure (2010: EUR28.70 million) resulted in particular from
impairment losses charged against the Greek bonds held in the treasury
portfolio of the Austrian subsidiary direktanlage.at.
The annual shareholders' meeting to be held on May 24, 2012 will be asked
to approve a full distribution of the consolidated distributable profit,
which would correspond to a dividend of 22 cents per share, to be paid out
on a tax-exempt basis yet again. Last year, the dividend was 20 cents per
share.
'The shareholders of DAB bank can look forward to a 10% increase in the
tax-free dividend and a dividend yield of 6.6%,' said Markus Gunter,
Management Board Speaker of DAB bank. 'We are optimistic about our future
performance. We expect to generate a higher profit in financial year 2012.'
The DAB bank Group executed 5.08 million trades for its customers in
financial year 2011, reflecting a 13% increase over the corresponding
prior-year figure. In Germany alone, the bank executed 20% more trades for
its customers. Factors contributing this increase included not only the
volatile stock markets, but also the numerous new products and services
offered to customers of DAB bank in 2011. Thanks to the heightened trading
activity of the bank's customers, the net commission income of EUR85.61
million was EUR3 million higher than the corresponding prior-year figure.
By contrast, the net commission income was lower than the prior-year
figure, as expected. Net interest income was stable, having declined only
slightly from EUR55.69 million to EUR53.22 million. The trading profit,
which had been favored in 2010 by catch-up effects following the financial
crisis, came to EUR0.63 million in 2011 (2010: EUR13.72 million).
Despite further investments in new products and services and the higher
number of trades executed for customers, DAB bank lowered its
administrative expenses from EUR115.28 million in 2010 to EUR113.09 million
in 2011. DAB bank will continue to place a high priority on active cost
management in 2012.
In its continuing quest for qualitative growth, DAB bank is targeting
investors and traders specifically in its new customer acquisition
campaigns. The DAB bank Group carried 620,922 securities accounts for its
customers in 2011, representing an increase of approximately 5,000 over the
prior-year figure. At EUR24.26 billion, customer assets held in custody
were only 7% less than the corresponding prior-year figure, and therefore
declined by a much smaller percentage than the most important stock
indexes, thanks in part to net inflows.
As part of its program for the future, 'DAB one,' DAB bank introduced
numerous new products and services for the benefit of its investors and
traders in 2011. By using the futures margin trading function, for example,
traders can move large amounts on the EUREX with only a small amount of
capital committed. And order functions like the trailing stop loss or
combination orders make trading even more convenient for them. Thanks to
the new 'Star Partner ETF' program, investors can purchase ETFs at even
more favorable terms. And since the beginning of 2012, customers of DAB
bank can purchase savings-plan products such as 'Flex Savings,' 'Dream
Savings' and 'Driver's License Savings,' thanks to a cooperation agreement
between the bank and the German motorists' club ADAC.
The figures presented herein have not yet been audited. DAB bank will
publish its annual report for financial year 2011 on March 20, 2012.
Key indicators and operating results of DAB bank (preliminary, unaudited
figures):
All figures have been adjusted for the figures of SRQ FinanzPartner AG,
which has been classified as discontinued operations.
Key indicators 2011 2010 Change
Securities accounts No. 620,922 616,044 +0.8%
Trades executed No. 5,081,041 4,506,466 +12.8%
Trades per securities account, No. 8.22 7.29 +12.8%
annualized
Customer assets held in custody EUR bn 24.26 26.03 -6.8%
thereof in investment funds EUR bn 11.69 12.76 -8.4%
Operating results
Net financial income * kEUR 69,606 53,299 -23.4%
Net commission income kEUR 85,606 82,892 +3.3%
Administrative expenses kEUR 113,088 115,278 -1.9%
Profit before taxes kEUR 25,728 28,702 -10.4%
Net profit after taxes kEUR 17,772 16,506 +7.7%
Cost-income ratio in % 81.8 81.6 83.1
Earnings per share EUR 0.06 0.06 0.05
Key indicators Q4/2011 Q3/2011 Q4/2010* Net financial income = Net interest income before credit risk provisions
Securities accounts No. 620,922 619,454 616,044
Trades executed No. 1,138,039 1,469,596 1,256,965
Customer assets held in EUR bn 24.26 23.77 26.03
custody
thereof in investment funds EUR bn 11.69 11.49 12.76
Operating results
Net financial income* kEUR 12,054 12,956 20,666
Net commission income kEUR 19,156 22,912 22,466
Administrative expenses kEUR 27,233 29,227 32,954
Profit before taxes kEUR 4,235 6,660 4,704
Net profit after taxes kEUR 3,194 4,407 -163
Earnings per share EUR 0.04 0.06 0.00
+ Trading/profit loss + Profit/loss from investments.
End of Corporate News
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28.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: DAB bank AG
Landsberger Straße 300
80687 München
Germany
Phone: +49 (0)89 500 68 1696
Fax: +49 (0)89 500 68 669
E-mail: ir(at)dab.com
Internet: www.dab-bank.de
ISIN:DE0005072300
WKN: 507230
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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158007 28.02.2012
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Datum: 28.02.2012 - 07:30 Uhr
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