DGAP-News: DAB bank gets off to a good start in financial year 2012, generating a solid profit before taxes of EUR 8.51 million in the first quarter
(firmenpresse) - DGAP-News: DAB bank AG / Key word(s): Quarter Results
DAB bank gets off to a good start in financial year 2012, generating a
solid profit before taxes of EUR 8.51 million in the first quarter
26.04.2012 / 07:30
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DAB bank gets off to a good start in financial year 2012, generating a
solid profit before taxes of EUR 8.51 million in the first quarter
The profit before taxes for the first quarter of 2012 is on the same level
as the strong figure for the first quarter of last year / Significant
increases in customer assets and number of customers
Munich, April 26, 2012. The DAB bank Group, Munich, generated a solid
profit before taxes of EUR8.51 million in the first quarter of 2012, which
was on the level of the strong year-ago figure (Q1 2011: EUR8.59 million).
The positive result was aided by the very good net interest income of
EUR14.48 million, which was 13% higher than the corresponding year-ago
figure, and by the solid trading profit and profit from investments, in the
amount of EUR2.33 million. 'The improved interest strategy of DAB bank and
the increased customer assets had a positive effect on our profit before
taxes,' said Markus Gunter, Management Board Speaker of DAB bank.
Furthermore, the bank's administrative expenses of EUR28.45 million were
reduced by 2% from the corresponding year-ago figure.
Both the number of trades executed for customers and the net commission
income were higher than the respective figures for the fourth quarter of
2011. In the period from January to March 2012, however, DAB bank's
customers were much more retained in their trading activity than in the
first three months of 2011, when trading activity was characterized by the
events of Fukushima, among other factors. In the first quarter of 2012, DAB
bank executed 1,225,429 trades for its customers, that being 11% fewer than
in the first quarter of last year (Q1 2011: 1,379,749). The net commission
income amounted to EUR20.47 million (Q1 2011: EUR23.80 million).
Customer assets held in custody exhibited a positive development, rising by
more than EUR2 billion from EUR24.26 billion at the end of December 2011 to
EUR26.35 billion at the end of March 2012. 'This increase was driven not
only by the positive performance of the markets, but also by significant
net inflows in both operating units of DAB bank,' said Markus Gunter.
Furthermore, DAB bank's customer base rose by nearly 6,000 to 599,396 in
the first three months of 2012. Compared to the end of March 2011, the
customer base has risen by almost 12,000.
At the beginning of January, DAB bank launched a cooperation arrangement
with ADAC, under which Europe's biggest automobile club offers its members
savings products via DAB bank. ADAC members can save their money at fixed
rates of interest by investing in the products ADAC Driver's License
Savings and ADAC Dream Savings. ADAC Flexible Savings is a good alternative
to the conventional bank book.
The results of this year's Broker Elections, in which almost 60,000
investors and traders participated, again confirmed the high level of
satisfaction of DAB bank's customers. For the second year in a row, DAB
bank won first place in three categories and was named Investment Fund&ETF Broker, Certificate Broker and FOREX Broker of the Year 2012.
Key indicators and operating results of DAB bank in the first quarter of
2012, according to IFRS:
Key indicators Q1/2012 Q4/2011 Q1/20111) Net financial income = Net interest income before credit risk
Customers No. 599,396 593,435 587,815
Securities accounts No. 620,393 620,922 614,799
Bank accounts No. 166,565 156,873 141,723
Trades executed No. 1,225,429 1,138,039 1,379,749
Customer assets EUR bn 26.35 24.26 26.31
thereof in investment funds EUR bn 12.67 11.69 12.73
Operating results Q1/2012 Q4/2011 Q1/2011
Net financial income1) kEUR 16,813 12,054 13,794
Net commission income kEUR 20,470 19,156 23,803
Administrative expenses kEUR 28,450 27,233 28,927
Profit before taxes kEUR 8,506 4,235 8,594
Profit after taxes kEUR 5,812 3,194 5,826
Cost-income ratio in % 77.0 86.6 77.1
Earnings per share EUR 0.07 0.04 0.08
provisions + trading profit/loss + profit/loss from investments.
End of Corporate News
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26.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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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166552 26.04.2012
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Datum: 26.04.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 139380
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