DGAP-News: Baader Bank AG: Reports net profit of EUR5.3 million after taxes in first half of 2012
(firmenpresse) - DGAP-News: Baader Bank AG / Key word(s): Half Year Results
Baader Bank AG: Reports net profit of EUR5.3 million after taxes in
first half of 2012
24.07.2012 / 07:30
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Baader Bank reports net profit of EUR5.3 million after taxes in first half
of 2012
Baader Bank ended the first half of 2012 with net profit of just under
EUR5.3 million after taxes. This represents an increase of 8.6% compared
with the same period last year. The result from ordinary activities
(operating result) was EUR6.8 million.
The main reason for this increase is the price rebound in the bond market.
While net interest income remained constant at EUR2.9 million, net fee and
commission income rose by 12% to EUR20 million, mainly thanks to commission
income from institutional business.
Declining trading activities on stock markets continue to disappoint.
Turnover on the Frankfurt Stock Exchange was well down on the same period
last year. This trend continues to depress the Bank's net trading income,
which fell by 30% compared with the first half of 2011.
Despite an increase in the workforce to 430 (30 June 2011: 403), personnel
costs and administrative expenses were reduced, thanks to the Bank's
flexible remuneration model and strict cost discipline.
As of 30 June 2012 the Group has equity (including the fund for general
banking risks pursuant to§340g of the German Commercial Code [HGB])
totalling EUR138.4 million. The Group's equity ratio as of 30 June 2012 is
21.8%.
Key figures in EUR m H1 2012 H1 2011
Net interest income 2.9 3.0
Net fee and commission income 20.0 17.9
Net trading income 18.9 27.1
Administrative expenses 47.1 48.4
Other income including loan loss provisions 11.0 5.0
Operating result 6.8 5.2
Net profit after taxes 5.3 4.9
The interim report may be downloaded from the website 'www.baaderbank.de'
on Friday July 27.2012
Baader Bank Aktiengesellschaft
Horst Bertram
Media Communications
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel. +49 89 5150 1882
Fax +49 89 5150 29 1880
horst.bertram(at)baaderbank.de
End of Corporate News
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24.07.2012 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,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Baader Bank AG
Weihenstephaner Str. 4
85716 Unterschleißheim
Germany
Phone: +49 89 5150 1882
Fax: +49 89 5150 29 1880
E-mail: communications(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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178834 24.07.2012
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Datum: 24.07.2012 - 07:30 Uhr
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