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Baader Bank AG — Earnings Release 2012
Jul 24, 2012
4539_rns_2012-07-24_3f06e383-8238-4ea2-92c3-bf189210b9f9.html
Earnings Release
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News Details
Corporate | 24 July 2012 07:30
Baader Bank AG: Reports net profit of EUR5.3 million after taxes in first half of 2012
Baader Bank AG / Key word(s): Half Year Results
24.07.2012 / 07:30
Baader Bank reports net profit of EUR5.3 million after taxes in first half of 2012
Baader Bank ended the first half of 2012 with net profit of just under EUR5.3 million after taxes. This represents an increase of 8.6% compared with the same period last year. The result from ordinary activities (operating result) was EUR6.8 million.
The main reason for this increase is the price rebound in the bond market. While net interest income remained constant at EUR2.9 million, net fee and commission income rose by 12% to EUR20 million, mainly thanks to commission income from institutional business.
Declining trading activities on stock markets continue to disappoint. Turnover on the Frankfurt Stock Exchange was well down on the same period last year. This trend continues to depress the Bank's net trading income, which fell by 30% compared with the first half of 2011.
Despite an increase in the workforce to 430 (30 June 2011: 403), personnel costs and administrative expenses were reduced, thanks to the Bank's flexible remuneration model and strict cost discipline.
As of 30 June 2012 the Group has equity (including the fund for general banking risks pursuant to §340g of the German Commercial Code [HGB]) totalling EUR138.4 million. The Group's equity ratio as of 30 June 2012 is 21.8%.
| Key figures in EUR m | H1 2012 | H1 2011 | ||
| Net interest income | 2.9 | 3.0 | ||
| Net fee and commission income | 20.0 | 17.9 | ||
| Net trading income | 18.9 | 27.1 | ||
| Administrative expenses | 47.1 | 48.4 | ||
| Other income including loan loss provisions | 11.0 | 5.0 | ||
| Operating result | 6.8 | 5.2 | ||
| Net profit after taxes | 5.3 | 4.9 |
The interim report may be downloaded from the website on Friday July 27th, 2012
Baader Bank Aktiengesellschaft
Horst Bertram
Pressekommunikation
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel. +49 89 5150 1882
Fax +49 89 5150 29 1880
End of Corporate News
24.07.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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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: | [email protected] |
| Internet: | www.baaderbank.de |
| ISIN: | DE0005088108 |
| WKN: | 508810 |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München (m:access), Stuttgart; Open Market in Frankfurt |
| End of News | DGAP News-Service |
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| 178834 24.07.2012 |