DGAP-News: comdirect: half-year pre-tax result up by 5% to EUR 53.1m
(firmenpresse) - DGAP-News: comdirect bank AG / Key word(s): Half Year Results
comdirect: half-year pre-tax result up by 5% to EUR 53.1m
26.07.2012 / 07:30
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comdirect: half-year pre-tax result up by 5% to EUR 53.1m
Quickborn/Frankfurt/Main, 26 July 2012. The comdirect group closed the
first half of 2012 with pre-tax profit of EUR 53.1m, a rise of 5% on the
previous year (EUR 50.4m). 'We have held back on marketing expenses and
thus achieved a strong result in a lacklustre market environment,' says Dr.
Thorsten Reitmeyer, CEO of comdirect bank AG. 'In the second half of the
year, we intend to invest more in growth and aim to achieve pre-tax profit
of between EUR 85m and EUR 90m for the year as a whole,' adds Reitmeyer.
In the first six months of the year, the comdirect group generated total
income of EUR 165.8m, a rise of 2.7% on the previous year (EUR 161.5m).
This development is mainly attributable to the increase in net interest
income after provisions, which was up 12% on the previous year (EUR 70.3m)
at EUR 78.7m. The rise stems primarily from lagging effects resulting from
higher market interest rates in previous quarters. At EUR 83.5m, net
commission income was down 8% on the previous year's figure (EUR 90.5m).
This is due to a market in which the major proportion of investors acted
more cautiously. The rise in total income was countered by a slight
increase in administrative expenses of 1.5% to EUR 112.7m (previous year:
EUR 111.0m).
At the end of the first half of the year, the total number of customers in
the comdirect group stood at 2.72 million and total assets under custody
amounted to EUR 45.43bn. In the B2C business line (comdirect bank AG), the
number of customers has increased by 32 thousand to 1.66 million since the
start of the year. In the first months of the year, assets under custody
climbed to EUR 25.97bn compared with EUR 24.90bn at the end of 2011. 834
thousand customers had a current account, which is a rise of 60 thousand in
the first six months. Over the same period, the number of Tagesgeld PLUS
('call money plus') accounts increased by 47 thousand to 1.28 million and
the number of custody accounts by 10 thousand to 793 thousand.
In the B2B business line (ebase GmbH), the number of customers serviced
climbed to 1.06 million. Compared to year-end 2011, the rise of around 59
thousand was primarily attributable to the takeover of custody account
management from Generali Investments Deutschland. Assets under custody rose
to EUR 19.46bn (year-end 2011: EUR 16.69bn).
Overview
EUR'000 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12
Net interest income
after provisions 37,205 38,878 40,319 41,892 36,770
Net commission income 40,308 50,262 41,871 44,171 39,355
Other income 374 -1,852 9,203 2,680 958
Administrative
Expenses 52,322 59,092 61,936 59,506 53,214
Pre-tax profit 25,565 28,196 29,457 29,237 23,869
After-tax profit 18,856 20,458 54,214 22,062 17,496
EUR'000 H1/11 H1/12 H1/12Length: 2,275 characters including spaces (excluding table)
vs. H1/11
Net interest income
after provisions 70,319 78,662 11.9 %
Net commission income 90,452 83,526 - 7.7 %
Other income 698 3,638 421.2 %
Administrative
Expenses 111,046 112,720 1.5 %
Pre-tax profit 50,423 53,106 5.3 %
After-tax profit 37,091 39,558 6.7 %
Press information:
All press releases are available at http://www.comdirect.de/presse.
If you no longer wish to receive this information, please send an e-mail to
presse(at)comdirect.de.
Press contact:
comdirect bank AG, Pascalkehre 15, D-25451 Quickborn
Johannes Friedemann, Annette Siragusano, e-mail presse(at)comdirect.de
Tel. +49 (0) 41 06/704-1340, fax +49 (0) 41 06/704-3402
End of Corporate News
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Language: English
Company: comdirect bank AG
Pascalkehre 15
25451 Quickborn
Germany
Phone: + 49 (0) 4106/704-0
Fax: + 49 (0) 4106/708-2580
E-mail: info(at)comdirect.de
Internet: www.comdirect.de
ISIN: DE0005428007
WKN: 542800
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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179095 26.07.2012
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