DGAP-News: Baader Bank AG Break-even operating result
(firmenpresse) - DGAP-News: Baader Bank AG / Key word(s): Half Year Results
Baader Bank AG Break-even operating result
29.07.2013 / 07:30
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Baader Bank - break-even operating result
Baader Bank's operating profit for the first half of 2013 stood at EUR0.1
million, thereby breaking even. We are pleased to note a further rise in
net fee and commission income.
Net interest income fell to just under EUR2 million. This is due to
interest on financing for the extension of the Bank's premises at
Unterschleißheim and lower interest margins. Net fee and commission income
rose by EUR0.7 million, due in large part to positive results from our
subsidiary Baader&Heins. Baader Bank is well-regarded in investment
banking circles, a fact confirmed by its top rankings in this year's
Thomson Reuters Extel Survey. In the most significant categories for German
and Austrian equities business, the Bank was ranked among the top five by
domestic and international investors.
Net trading income fell by EUR0.7 million, or 3.5%, compared with the same
period last year. We are further increasing the pace of expansion in OTC
trading, partly by extending the range of partners we work with, and of our
plans to trade in foreign equities on the BX Berne eXChange.
The increased costs for our administrative building and further sharp
increases in the cost of meeting regulatory and government requirements led
to a small increase in administrative expenses of 1.6%.
As at 30 June 2013 the Baader Bank Group employed 440 staff (30.06.2012:
430).
The Baader Bank Group made a loss after tax of EUR0.8 million for the first
six months of 2013. The positive results from the previous year were due to
very substantial rises in the value of our securities portfolios and the
realisation of these gains.
Taking into account the fund for general banking risks, the Group's equity
stood at EUR137.2 million as at 30 June 2013 (31.12.2012: EUR138.9
million). The equity ratio at the end of the period was 18.4%.
We expect the takeover and integration of the Swiss brokerage Helvea to be
completed soon. In future we will be able to take advantage of Helvea's
excellent business relationships, built up over many years, to market and
trade in German and Austrian equities. Together, the two institutions are
well on the way to establishing themselves as a strong local broker for the
German-speaking countries.
Key figures in EUR m H1 2013 H1 2012End of Corporate News
Net interest income 2.0 2.9
Current income 1.1 1.1
Net fee and commission income 20.7 20.0
Net trading income 18.2 18.9
Administrative expenses -47.8 -47.1
Other income 4.0 -0.7
Loan loss provisions 1.9 11.7
Operating profit 0.1 6.8
Net loss/profit after taxes -0.8 5.3
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29.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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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223032 29.07.2013
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Datum: 29.07.2013 - 07:30 Uhr
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News-ID 282350
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