DGAP-News

DAB Bank's key operational indicators reach new record levels in Q1/2015

DGAP-News: DAB Bank AG / Key word(s): Quarter Results
DAB Bank's key operational indicators reach new record levels in
Q1/2015

28.04.2015 / 07:15

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DAB Bank's key operational indicators reach new record levels in Q1/2015

Trades executed and customer assets reach new records / First-quarter
profit before taxes comes to EUR6.43 million

Munich, April 28, 2015. The customers of the DAB Bank Group, Munich, were
never as active in a three-month period as they were in the first quarter
of this year, when they placed 1.97 million trade orders. Motivated by the
continued positive performance of financial markets, they placed almost 32%
more trade orders than they did in the very active first quarter of last
year. Customer assets held in custody with DAB Bank also reached a new
record high of EUR40.79 billion as of March 31, 2015. In the first quarter
alone, customer assets increased by a net total of approximately EUR4.4
billion, thanks to market effects and net fund inflows. Furthermore, DAB
Bank added slightly more than 12,300 new customers in the first quarter,
bringing the total to 662,891. This is the biggest quarterly increase in
the number of customers since 2007. Moreover, the number of securities
accounts carried for customers rose by almost 7,000 to 632,689. "Rarely in
the history of DAB Bank have our operating results been as good as in the
first quarter of this year," said Ernst Huber, Spokesman of the Management
Board of DAB Bank. "This excellent performance can be credited to our
convincing line-up of products and services. The numerous awards and
distinctions we have received in customer surveys and product tests prove
that DAB Bank is one of the best institutions in both brokerage and
banking."

The consolidated profit before taxes of the DAB Bank Group amounted to
EUR6.43 million in the first quarter of 2015. This amount is modestly below
the profit before taxes for the first quarter of last year (Q1 2014:
EUR6.87 million), but well above the profit before taxes (adjusted for
non-recurring effects) of the preceding quarter (Q4 2014: EUR4.63 million).
Thanks to the very high number of trades executed, the net commission
income of EUR29.42 million was 29% higher than the year-ago figure. The net
interest income earned in the first quarter of 2015 was considerably less
than the corresponding figure for the fourth quarter of 2014, when interest
income was generated on the liquidation of direct investments held with the