DGAP-News: Baader Bank AG posts positive full year results
(firmenpresse) - DGAP-News: Baader Bank AG / Key word(s): Final Results/Preliminary
Results
Baader Bank AG posts positive full year results
28.02.2012 / 08:00
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Baader Bank AG posts positive full year results
In a difficult market environment, Baader Bank AG was able to generate a
preliminary, positive consolidated net profit of EUR 0.7 million after
taxes for the full year 2011. A comparison of the results with the
published figures from the same period last year has only limited
informational value because the Bank transitioned its accounting from IFRS
to the German Commercial Code (HGB) with effect from 1 January 2011.
The retained earnings of Baader Bank AG are EUR 2.4 million. At the General
Meeting of Shareholders on 29 June 2012, a dividend of EUR 0.03 (previous
year: EUR 0.12) will be proposed to shareholders. The distribution will be
made from the taxable deposit account.
'The diversification of our business model is paying off. In a very
challenging environment, which was dominated by the sovereign debt crisis
in Europe, we were able to anchor our income on a broader basis and further
expand our position in investment banking,' said Uto Baader, Chairman of
the Executive Board of Baader Bank.
Due to a higher interest margin, net interest income grew to EUR 5.9
million, more than 20% higher than previous year's levels.
Investor uncertainty led to a considerable decline in trading activities in
all market segments. This especially impacted on the Bank's net trading
income which, at EUR 46.3 million, was 27.3% below the results in the
previous year.
As a consequence, there was a decline in the basis of measurement for the
contributions to the fund for general bank risks in accordance with Section
340e (4) HGB, and an amount totalling EUR 5.9 million could be released.
At EUR 31.2 million, net fee and commission income was about 10% below the
level in the same period last year. This decline resulted from lower
volume- and success-based commission income as a result of unfavourable
market conditions and lower client activity, particularly in the second
half of the year.
Despite significant investments in personnel and tangible assets for the
expansion of new business segments, administrative expense grew by only
1.2%. The primary reasons for this are strict cost discipline and lower
expense for performance-based compensation due to the Bank's flexible
remuneration model.
As of 31 December 2011, the Group has equity totalling EUR 135.1 million
when taking into account the fund for general banking risks. The Group
employed 414 people at the end of the year (31 December 2010: 389).
Key figures in EUR m 2011 (HGB) 2010 (HGB)The Executive Board
Net interest income and other current income 6.9 5.2
Net fee and commission income 31.2 34.6
Net trading income 46.3 63.6
Administrative expenses - 89.8 - 88.7
Other income/expenses 1.2 3.3
Loan loss provisions 5.2 - 58.5
Result from ordinary activities 1.0 - 40.5
Extraordinary result 0.0 6.6
Net profit after taxes 0.7- 35.8
Equity 105.0 110.3
Fund for general banking risks 30.1 36.0
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Published by:
Baader Bank Aktiengesellschaft
Contact: Dr. Hans-Wilhelm Eckert
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel: +49 (0) 89 5150 1881
Fax +49 0 89 5150 29 1880
hans-wilhelm.eckert(at)baaderbank.de
www.baaderbank.de
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: Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleissheim
Germany
Phone: +49 (0)89/ 5150-0
Fax: +49 (0)89/ 5150-291030
E-mail: info(at)Baaderbank.de
Internet: www.Baaderbank.de
ISIN: DE0005088108
WKN: 508810
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München (m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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158037 28.02.2012
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Datum: 28.02.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 119167
Anzahl Zeichen: 6153
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