29.04.2015
Baader Bank AG DE0005088108
DGAP-News: Baader Bank AG: Baader Bank considerably increases operating earnings
DGAP-News: Baader Bank AG / Key word(s): Quarter Results
Baader Bank AG: Baader Bank considerably increases operating earnings
29.04.2015 / 07:34
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Baader Bank considerably increases operating earnings
Benefitting from a favourable capital market environment Baader Bank
considerably increased its net trading and net fee and commission income in
the first quarter 2015, thereby outperforming the very positive
corresponding quarter of the previous year. Net trading income grew
significantly to EUR19.7 million, a rise of 22%. A steep growth in turnover
in the equities, funds/ETFs and securitised derivatives business segments
made a major contribution to this. Bond trading on the other hand was
impacted by the ECB's buyback programme.
Investment Banking's performance was also developed also very favourably.
Driven especially by good business development in the Corporates & Markets
business and Helvea companies, net fee and commission income rose by 12% to
EUR14.4 million. The subsidiary Baader & Heins Capital Management AG also
made a positive contribution to results, while Conservative Concept
Portfolio Management AG posted a small loss.
As expected, net interest income continues to decline, due primarily to
portfolio reallocations to non-interest-bearing assets. The income from
these investments is predominantly reflected in 'Other income and
expenses'.
Administrative expenses grew by 7.9%, or EUR2.3 million, to EUR31.1
million. This is attributable in particular to higher variable remuneration
components resulting from increased earnings. In addition, personnel
expenses rose due to a new remuneration model for employees in operational
units, which was introduced in 2015 as a result of the new Remuneration
Regulation for Institutions (Institutsvergütungsverordnung).
At 31 March 2015 the Baader Bank Group employed a total of 469 people (31
March 2014: 478).
Operating profit increased by 68% to EUR5.5 million (Q1 2014: EUR3.3
million).
Net profit after tax rose by a substantial 85% to EUR4.8 million as at 31
March 2015 (Q1 2014: EUR2.6 million).
Taking into account the fund for general banking risks, the Baader Bank
Group's total own resources as at 31 March 2015 stood at EUR137.3 million
(31 December 2014: EUR132.0 million). The equity ratio as at 31 March 2015
was 15.8%.
The 2014 consolidated annual report and the report for the first quarter of
2015 are available on our website (financial statements, quarterly report).
Key figures in EUR million Q1 2015 Q1 2014 Net interest income -0.1 0.9 Current income 0.3 0.3 Net fee and commission income 14.4 12.9 Net trading income 19.7 16.2 Administrative expenses 31.1 28.9 Other income and expenses 1.4 2.5 Risk provisions 0.5 -0.5 Operating profit 5.5 3.3 Net profit after tax 4.8 2.6--------------------------------------------------------------------- 29.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Baader Bank AG Weihenstephaner Str. 4 85716 Unterschleißheim Germany Phone: +49 89 5150 1881 Fax: +49 89 5150 29 1880 E-mail: [email protected] Internet: www.baaderbank.de ISIN: DE0005088108 WKN: 508810 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich (m:access), Stuttgart; Open Market in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 350135 29.04.2015
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