DGAP-News: DAB Bank increases profit before taxes to EUR 28.03 million in financial year 2012
(firmenpresse) - DGAP-News: DAB bank AG / Key word(s): Preliminary Results
DAB Bank increases profit before taxes to EUR 28.03 million in
financial year 2012
21.02.2013 / 07:30
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DAB Bank increases profit before taxes to EUR 28.03 million in
financial year 2012
Proposed dividend of 21 cents per share, corresponding to full distribution
of distributable profit / High net cash inflows cause growth in customer
assets under management by more than four billion euros / Broader offerings
of traditional banking products to strengthen customer growth
Munich, February 21, 2013. The DAB Bank Group, Munich, increased its profit
before taxes to EUR 28.03 million in financial year 2012, a 9 percent
increase compared to the prior year (2011: EUR 25.73 million). The annual
shareholders' meeting to be held on May 16, 2013, will be asked to approve
a full distribution of consolidated unappropriated net profit, which would
correspond to a dividend of 21 cents per share, to be paid out on a
tax-exempt basis yet again. In the fourth quarter of 2012, DAB Bank
achieved a profit before taxes of EUR 6.60 million, which is significantly
higher than the profit in the prior quarter (Q3 2012: EUR 5.44 million) and
the prior year quarter (Q4 2011: EUR 4.24 million).
An extraordinarily good financial investment profit of EUR 14.95 million
made a particularly strong contribution to DAB Bank's success in 2012. The
net interest income remained relatively stable despite the further decline
in interest rate levels, declining only 7 percent to EUR 49.80 million.
Due to the insecurity caused by the continuing European national debt
crisis, customers acted with appreciably greater reserve in 2012 than in
the prior year, executing 4.20 million trades (2011: 5.08 million
transactions). This also led to a decline in net commission income by 13
percent to EUR 74.18 million. It was once again possible to reduce
administrative expenses by just under two million euros to the current EUR
111.35 million due to consistent cost discipline.
In financial year 2012, DAB Bank focused on qualitative growth, which was
particularly noticeable in the high net cash inflows from customers, making
a significant contribution to growth in customer assets. At December 31,
2012, DAB Bank thus managed deposits and securities accounts amounting to
EUR 28.38 billion - more than four billion euros more than at the end of
2011.
'In 2013, we want to increase the number of our customers. In order to do
so, we have broadened our offerings and brought a thoroughly updated range
of banking offers to the market, including a top-notch giro account,' said
Ernst Huber, DAB Bank Management Board Spokesman. 'In this way, DAB Bank is
establishing itself as the first bank for its customers - with a
comprehensive range of offers from the giro account to trading products. We
are also continuing to develop our portfolio of products and services in
the securities area.'
Since the beginning of February, DAB Bank has been offering its customers a
new giro account with free account management, attractive interest rates on
balances, and favorable credit line interest rates. In addition, fees were
reduced for trading in stocks, derivatives, and investment funds. DAX30
shares can be traded particularly simply and inexpensively on the new 'DAB
Best Price' trading desk. CFDs will soonalso be available to DAB Bank
customers.
The figures presented herein have not yet been audited. DAB bank will
publish its annual report for financial year 2012 on March 19, 2013.
Key indicators and operating results of DAB bank (preliminary, unaudited
figures):
Key indicators 2012 2011 Change
Customers Number 597,128 593,435 +0.6%
Securities accounts Number 615,288 620,922 -0.9%
Accounts Number 155,381 156,873 -1.0%
Trades executed Number 4,198,272 5,081,041 -17.4%
Trades per securities account, Number 6.79 8.22 -17.4%
annualized
Customer assets under management EUR bn 28.38 24.26 +17.0%
thereof in investment funds EUR bn 13.56 11.69 +16.0%
Operating results
Net financial income* kEUR 65,265 53,299 +22.5%
Net commission income kEUR 74,181 85,606 -13.3%
Administrative expenses kEUR 111,346 113,088 -1.5%
Profit before taxes kEUR 28,032 25,728 +9.0%
Net profit after taxes kEUR 18,125 17,772 +2.0%
Cost-income ratio in % 79.9 81.6 -2.1%
Earnings per share EUR 0.22 0.23 -4.3%
Key indicators Q4/2012 Q3/2012 Q4/2011* Net financial income = Net interest income before credit risk provisions
Customers Number 597,128 598,529 593,435
Securities accounts Number 615,288 617,094 620,922
Accounts Number 155,381 153,165 156,873
Trades executed Number 973,395 1,001,826 1,138,039
Customer assets under management EUR bn 28.38 27.42 24.26
thereof in investment funds EUR bn 13.56 12.98 11.69
Operating results
Net financial income* kEUR 18,567 14,023 12,054
Net commission income kEUR 16,662 18,683 19,156
Administrative expenses kEUR 28,317 27,490 27,233
Profit before taxes kEUR 6,598 5,438 4,235
Net profit after taxes kEUR 3,788 3,325 3,194
Earnings per share EUR 0.05 0.04 0.04
+ Trading/profit loss + Profit/loss from investments.
End of Corporate News
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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.deISIN: 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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