Good result: pre-tax profit of EUR 80.9m - comdirect group with nearly 2.3 million customers - dividend proposal of 42 cents per share
(Thomson Reuters ONE) -
comdirect bank AG /
Good result: pre-tax profit of EUR 80.9m - comdirect group with nearly 2.3
million customers - dividend proposal of 42 cents per share
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The issuer is solely responsible for the content of this announcement.
Quickborn/Frankfurt/Main, 17 February 2011. The comdirect group achieved pre-tax
profit of EUR 80.9m (previous year: EUR 76m) for financial year 2010, thereby
slightly exceeding the target set in the middle of the year of EUR 80m. "We
have expanded again in 2010 and delivered a good result. The increases in assets
under custody, accounts and trades confirm our business model and programmatic
focal area," says Dr. Thorsten Reitmeyer, CEO of comdirect bank. Shareholders
are set to benefit from this positive development and a dividend of 42 cents per
share will be proposed to the annual general meeting.
In financial year 2010, the comdirect group generated income of EUR 290.9m,
surpassing the previous year's figure (EUR 283.9m). Net interest income after
provisions stood at EUR 101.8m (previous year: EUR 110.0m) due to persistently
low market interest rates. More trades led to a 16% rise in net commission
income which climbed to EUR 172.8m (previous year: EUR 148.8m). Administrative
expenses increased to EUR 210m (previous year: EUR 198.9m) as a result of higher
marketing expenses.
In the B2C business line (comdirect bank AG) the number of customers has
increased by 108,301 to 1,559,021 since the start of the year. At EUR 26.32bn at
the end of December, assets under custody were up 18.3% on the level at the end
of 2009 (EUR 22.24bn). With 647,048 current accounts in total, comdirect bank
recorded a rise of 113,120 accounts compared with 2009. The number of
Tagesgeld PLUS ("call money PLUS") accounts increased by 17.7% to 1,130,998 and
the number of custody accounts by 4% to 748,151.
In the B2B business line (ebase GmbH) the number of custody accounts at the end
of 2010 stood at 737,054, up 5.3% on the previous year. Assets under custody
increased by 21.6% to EUR 16.2bn as a result of price gains and new business.
Reitmeyer: "Our growth figures for 2010 are impressive: 145 thousand more
customers, a rise of EUR 7bn in assets under custody and 1.5 million custody
accounts in our securities business. Following the good start to the new
financial year, we are confident our business will again perform well in 2011."
The full annual report 2010 will be published on 22 March 2011. The figures in
this press release are unaudited.
Overview
+-----------------------+-------+------+------+------+------+-------+--------+
|EUR thousand | 2009*| Q1/10| Q2/10| Q3/10| Q4/10| 2010|2010 vs.|
| | | | | | | | 2009*|
+-----------------------+-------+------+------+------+------+-------+--------+
|Net interest income |108,693|23,973|22,627|26,218|29,256|102,074| -6.09%|
|before provisions | | | | | | | |
+-----------------------+-------+------+------+------+------+-------+--------+
|Provisions for possible| 1,299| -79| -178| -392| 394| -255|-119.63%|
|loan losses | | | | | | | |
+-----------------------+-------+------+------+------+------+-------+--------+
|Net commission |148,757|38,791|45,293|40,127|48,561|172,772| 16.14%|
|income | | | | | | | |
+-----------------------+-------+------+------+------+------+-------+--------+
|Other income | 25,107| 7,122| 3,368| 3,338| 2,483| 16,311|- 35.03%|
+-----------------------+-------+------+------+------+------+-------+--------+
|Administrative |198,918|48,625|50,584|48,025|62,794|210,028| 5.59%|
|expenses | | | | | | | |
+-----------------------+-------+------+------+------+------+-------+--------+
|Pre-tax profit** | 75,993|21,182|20,526|21,266|17,900| 80,874| 6.42%|
+-----------------------+-------+------+------+------+------+-------+--------+
|After-tax profit | 56,624|15,682|15,127|15,371|13,454| 59,634| 5.32%|
+-----------------------+-------+------+------+------+------+-------+--------+
*Including ebase GmbH
**2009 including restructuring expenses
Length: 2,455 characters including spaces, excluding table
All images for the press and analysts' conference on 17 February will be
available as of 15.00 hrs at www.comdirect.de/bildmaterial
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 Message ---
comdirect bank AG
Pascalkehre 15 Quickborn Germany
WKN: 542800;ISIN: DE0005428007;Index:SDAX,CDAX,CLASSIC All Share,Prime All Share;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
Press Release as PDF:
http://hugin.info/131920/R/1489613/425158.pdf
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Source: comdirect bank AG via Thomson Reuters ONE
[HUG#1489613]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 51607
Anzahl Zeichen: 6440
contact information:
Town:
Quickborn
Kategorie:
Business News
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