DGAP-News: Baader Bank AG starts the new year with increased net fee and commission income
(firmenpresse) - DGAP-News: Baader Bank AG / Key word(s): Quarter Results
Baader Bank AG starts the new year with increased net fee and
commission income
29.04.2013 / 07:30
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Baader Bank starts the new year with increased net fee and commission
income
Baader Bank posted higher net fee and commission income in the first
quarter of 2013. Net fee and commission income advanced 5.7% year-on-year
to EUR10.2 million. The relatively new investment banking segment performed
well, recording further revenue hikes in the highly-competitive cash equity
markets segment.
In contrast, net trading income remained disappointing, down 33.8% (EUR10
million) against the same period in 2012. Despite improved equity market
sentiment, results were still dampened by weak sales in the securities
markets.
Administrative expenses were cut by 4.8% to EUR24.6 million through strict
cost management and the performance-related pay structure. As at 31 March
2013, the Group employed a total of 437 people (31 March 2012: 416).
Group profit after tax came in at just under EUR0.3 million at the end of
the first quarter of 2013, while operating profit stood at EUR0.7 million.
The figures for the same period in 2012 were boosted by extensive realized
gains and reversals of impairment losses in the securities portfolio.
Taking into account the fund for general banking risk, Group equity was
EUR139.2 million as at 31 March 2013 (31 December 2012: EUR138,9 million).
The equity ratio was 20% on the reporting date.
The Bank is forging ahead with preparations for the takeover and
integration of the Swiss broker Helvea, which can only proceed once the
deal has been approved by the supervisory authority.
Key figures (EUR million) Q1 2013 Q1 2012End of Corporate News
Net interest and other current income 1.1 1.7
Net fee and commission income 10.2 9.7
Net trading income 10 15.2
Administrative expenses -24.6 -25.8
Other income/expenses 3 -2.4
Loan loss provisions 0.9 11.8
Operating result 0.7 10.2
Net profit after taxes 0.3 8.8
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29.04.2013 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: 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; Frankfurt in Open Market
End of News DGAP News-Service
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208744 29.04.2013
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Datum: 29.04.2013 - 07:30 Uhr
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News-ID 253627
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