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Baader Bank AG — Earnings Release 2013
Jul 29, 2013
4539_rns_2013-07-29_d9c09a44-28d5-41bf-983f-17cda300dac9.html
Earnings Release
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News Details
Corporate | 29 July 2013 07:30
Baader Bank AG Break-even operating result
Baader Bank AG / Key word(s): Half Year Results
29.07.2013 / 07:30
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 2012 | |
| 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 |
End of Corporate News
29.07.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group 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; Frankfurt in Open Market |
| End of News | DGAP News-Service |
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