EQS-News

Baader Bank posts positive consolidated pre-tax result and continued invest-ment and growth for HY1 2023 - Seite 2

As at 30 June 2023, the Group had 536 employees (in full-time equivalents) (31 December 2022: 503).

Further growth of European B2B platform business

In terms of the number of securities accounts held within the Group, Baader Bank's account and securities account business grew by more than 150,000 accounts to 1,000,000 accounts in the first half year of 2023 (December 31, 2022: 843,000). Customer assets serviced, consisting of securities account volumes and customer deposits, have slightly decreased since the beginning of 2023 to a total of EUR 23.4 billion.

Additional B2B partnerships are also being established in Baader Bank's cooperation business. Besides the Smartbroker, which will be migrated to Baader Bank's platform in the course of the current fiscal year, another new online broker will be launched on the platform. For the further growth ahead, Baader Bank will continue its investment course in order to provide the IT infrastructure in terms of scalability in the long term. This will be particularly evident in high-trading market phases.

Solid capitalisation forms basis for further growth and investment

As at June 30, 2023, Baader Bank's total assets had increased to EUR 4.2 billion (December 31, 2022: EUR 2.4 billion) compared with the end of the previous fiscal year due to rising deposit volumes. Baader Bank's equity capital remains at a stable at EUR 165.0 million (Dec. 31, 2022: EUR 164.9 million) and the total capital ratio as at the end of the half year is a comfortable 22.7 %. With this basis, Baader Bank is solidly positioned for further growth and investments.

Note on the presentation of the income statement

In a departure from the structure used so far, following the German commercial code (Handelsgesetzbuch; HGB), the income statement will now be presented following the management account structure. As a result, earnings from the interest business will include interest-induced commission expenses in addition to interest income. Earnings from trading will include trading income, brokerage and transaction income and trade-induced commission expenses, incl. exchange and settlement fees. Current income is reported under other income. In addition to the general risk precaution, risk provision includes transfers to the fund for general banking risks in accordance with Section 340g HGB.