Baader Bank AG — Earnings Release 2013

Apr 29, 2013

News Details

Corporate | 29 April 2013 07:30

Baader Bank AG starts the new year with increased net fee and commission income

Baader Bank AG / Key word(s): Quarter Results

29.04.2013 / 07:30

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Baader Bank starts the new year with increased net fee and commission income

Baader Bank posted higher net fee and commission income in the first quarter of 2013. Net fee and commission income advanced 5.7% year-on-year to EUR10.2 million. The relatively new investment banking segment performed well, recording further revenue hikes in the highly-competitive cash equity markets segment.

In contrast, net trading income remained disappointing, down 33.8% (EUR10 million) against the same period in 2012. Despite improved equity market sentiment, results were still dampened by weak sales in the securities markets.

Administrative expenses were cut by 4.8% to EUR24.6 million through strict cost management and the performance-related pay structure. As at 31 March 2013, the Group employed a total of 437 people (31 March 2012: 416).

Group profit after tax came in at just under EUR0.3 million at the end of the first quarter of 2013, while operating profit stood at EUR0.7 million. The figures for the same period in 2012 were boosted by extensive realized gains and reversals of impairment losses in the securities portfolio.

Taking into account the fund for general banking risk, Group equity was EUR139.2 million as at 31 March 2013 (31 December 2012: EUR138,9 million). The equity ratio was 20% on the reporting date.

The Bank is forging ahead with preparations for the takeover and integration of the Swiss broker Helvea, which can only proceed once the deal has been approved by the supervisory authority.

Key figures (EUR million)	Q1 2013	Q1 2012
Net interest and other current income	1.1	1.7
Net fee and commission income	10.2	9.7
Net trading income	10	15.2
Administrative expenses	-24.6	-25.8
Other income/expenses	3	-2.4
Loan loss provisions	0.9	11.8
Operating result	0.7	10.2
Net profit after taxes	0.3	8.8

End of Corporate News

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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@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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208744  29.04.2013