DGAP-News: comdirect: nine-month pre-tax result of EUR 65.5m - pre-tax profit target for full year 2013 raised to EUR 75m
(firmenpresse) - DGAP-News: comdirect bank AG / Key word(s): Quarter Results
comdirect: nine-month pre-tax result of EUR 65.5m - pre-tax profit
target for full year 2013 raised to EUR 75m
23.10.2013 / 07:30
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comdirect: nine-month pre-tax result of EUR 65.5m - pre-tax profit target
for full year 2013 raised to EUR 75m
Quickborn/Frankfurt/Main, 23 October 2013. The comdirect group achieved
pre-tax profit of EUR 65.5m in the first nine months of 2013 (previous
year: EUR 72.8m). 'In terms of growth and profitability comdirect has
delivered a very strong performance in the first nine months of the year.
We are raising our pre-tax profit target for this year to EUR 75m,' says
Holger Hohrein, CFO of comdirect bank AG.
In the first nine months of the year, the comdirect group generated total
income of EUR 253.0m. This is a rise of 3% on the previous year's high
figure (EUR 245.4m). While the framework conditions for deposit business
remained challenging, comdirect benefited from greater activity on the part
of customers in securities trading. Against the backdrop of persistently
low market interest rates, net interest income after provisions of EUR
103.2m was thus 8% lower than in the previous year (EUR 112.0m). Net
commission income grew by 11% to EUR 138.7m (previous year: EUR 125.3m) as
a result of the increased number of trades in particular. Administrative
expenses amounted to EUR 187.5m compared with EUR 172.6m in the previous
year. The rise of 9% is dominated by greater investment in growth relating
to products, marketing and the banking platform.
The total number of customers in the comdirect group increased in the first
nine months to 2.80 million and total assets under custody climbed to a new
record level of EUR 52.81bn (year-end 2012: EUR 48.85bn) over the same
period. In addition to price effects, customer net fund inflows of EUR
1.7bn contributed to this growth.
In the B2C business line (comdirect bank AG), the number of customers has
increased by 73 thousand to 1.79 million since the start of the year. In
the first nine months of the year, assets under custody rose to EUR 30.49bn
(year-end 2012: EUR 27.91bn). With growth of 101 thousand accounts since
the start of the year, the number of current accounts reached the one
million mark (1.00 million). Over the same period, the number of Tagesgeld
PLUS accounts increased by 80 thousand to 1.42 million and the number of
custody accounts by 22 thousand to 828 thousand. Hohrein: 'We provide what
bank customers of today want - convincing products and smart services. One
current example is our Personal Financial Manager: a cutting-edge budgeting
tool unlike anything presently offered by other banks in Germany.'
In the B2B business line (ebase GmbH), the number of customers serviced at
the end of the first nine months stood at 1.01 million (year-end 2012: 1.04
million). Assets under custody rose from EUR 20.95bn at the end of 2012 to
EUR 22.33bn.
Overview
EUR'000 Q3/12 Q4/12 Q1/13 Q2/13 Q3/13
Net interest income
after provisions * 33,788 34,512 33,382 33,792 36,032
Net commission income 41,730 41,160 45,243 46,503 47,003
Other income 4,423 7,140 8,025 2,299 724
Administrative
expenses* 60,229 63,332 63,751 63,565 60,197
Pre-tax profit * 19,712 19,480 22,899 19,029 23,562
After-tax profit * 14,358 19,451 16,851 14,286 17,124
EUR'000 9M/12 9M/13 9M/13*Previous year adjusted due to application of amended IAS 19
vs. 9M/12
Net interest income
after provisions * 112,041 103,206 -7.9 %
Net commission income 125,256 138,749 10.8 %
Other income 8,061 11,048 37.1 %
Administrative
expenses* 172,579 187,513 8.7 %
Pre-tax profit * 72,779 65,490 -10.0 %
After-tax profit * 53,888 48,261 -10.4 %
Press contact:
Annette Siragusano
comdirect bank AG, Pascalkehre 15, 25451 Quickborn
Tel.: + 49 (0) 4106 - 704 - 1960
e-mail: annette.siragusano(at)comdirect.de
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.
For further information on the Personal Financial Manager and a video
tutorial go to: www.comdirect.de/pfm
End of Corporate News
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23.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group 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: 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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235560 23.10.2013
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Datum: 23.10.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 308327
Anzahl Zeichen: 7483
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