DGAP-News: comdirect: quarterly pre-tax result of EUR 22.9m
(firmenpresse) - DGAP-News: comdirect bank AG / Key word(s): Quarter Results
comdirect: quarterly pre-tax result of EUR 22.9m
25.04.2013 / 07:30
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comdirect: quarterly pre-tax result of EUR 22.9m
Quickborn/Frankfurt/Main, 25 April 2013. The comdirect group closed the
first quarter of 2013 with pre-tax profit of EUR 22.9m (previous year: EUR
29.2m). 'It has been a convincing start to the year: we have grown,
invested in future growth and achieved a good result - in spite of
historically low market interest rates,' says Dr. Christian Diekmann, CFO
of comdirect bank AG. 'We intend to continue to invest this year and thus
exploit the growth potential currently offered by the online banking
market,' adds Diekmann.
In the first three months of the year, the comdirect group generated total
income of EUR 86.7m (previous year: EUR 88.5m). Despite the difficult
framework conditions for deposit business, the decline was modest. This is
also due to the substantial increase in other income to EUR 8.0m (previous
year: EUR 2.7m). At EUR 33.4m net interest income after provisions was down
20% on the previous year's figure (EUR 41.7m) as a result of the continual
fall in market interest rates last year. Net commission income climbed 2%
to EUR 45.2m (previous year: EUR 44.2m). The increase in administrative
expenses of 7% to EUR 63.8m (previous year: EUR 59.3m) reflects the growth
initiatives.
At the end of the first quarter, the total number of customers in the
comdirect group stood at 2.76 million and total assets under custody rose
to EUR 50.82bn compared with EUR 48.85bn at the end of 2012. In addition to
positive price effects, this was attributable to a net fund inflow of EUR
0.7bn.
In the B2C business line (comdirect bank AG) the number of customers has
increased by 18 thousand to 1.74 million since the start of the year. In
the first three months, assets under custody climbed to EUR 28.98bn
compared with EUR 27.91bn at the end of 2012. 933 thousand customers had a
current account, which is a rise of 32 thousand in the first three months.
Over the same period, the number of Tagesgeld PLUS accounts increased by 23
thousand to 1.37 million and the number of custody accounts by 8 thousand
to 814 thousand.
In the B2B business line (ebase GmbH), the number of customers serviced
fell by 18 thousand to 1.02 million. The decrease results primarily from
the cancellation of custody accounts for capital-building payments
following expiry of VL contracts (capital-building contracts). Assets under
custody rose to EUR 21.84bn (year-end 2012: EUR 20.95bn).
comdirect shareholders can again look forward to a dividend. After approval
by the annual general meeting on 16 May 2013, a dividend of 44 cents per
share is to be paid for financial year 2012.
Overview
EUR'000 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q1/13 vs.* Previous year adjusted due to application of amended IAS 19
Q1/12
Net interest income
after provisions* 41,687 36,566 33,788 34,512 33,382 -19.9%
Net commission income 44,171 39,355 41,730 41,160 45,243 2.4%
Other income 2,680 958 4,423 7,140 8,025 199.4%
Administrative
Expenses* 59,321 53,029 60,229 63,332 63,751 7.5%
Pre-tax profit* 29,217 23,850 19,712 19,480 22,899 -21.6%
After-tax profit* 22,047 17,48314,358 19,451 16,851 -23.6%
Length: 2,516 characters including spaces (excluding table)
Press information
All press releases are available at 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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