DGAP-News

comdirect: Nine-month pre-tax profit of EUR106.9m - Seite 2

result from financial investments. At EUR159.9m, net commission income was
9% below the previous year's record level (EUR174.8m). In addition to the
moderate fall in order figures (from 11.0 to 10.8 million) as a result of a
quiet trading summer, this is due to the share price level having declined
on average during the year, which impacted sales follow-up commission from
the funds business and led to lower average order volume. In view of the
still lower market interest rates, net interest income after provisions for
possible loan losses fell to EUR91.8m, 10% below the previous year
(EUR101.8m). The administrative expenses were lowered 7% in the first nine
months of 2016 to EUR191.1m (previous year: EUR205.0m). Some of the market-
induced decline in earnings was thus compensated for by active cost and
investment management.

The number of customers in the B2C business line (comdirect bank AG) has
increased by 56 thousand to 2.057 million since the start of the year. Over
the same period, the number of custody accounts rose by 44 thousand to 988
thousand and the number of current accounts increased by 68 thousand to
1.334 million. Total assets under custody rose to EUR42.9bn in the first
nine months, compared with EUR39.9bn at the end of 2015. Net fund inflows
stood at EUR3.3bn, of which EUR2.2bn was invested in custody accounts
(previous year: EUR1.7bn). According to Walter, "The figures prove that
comdirect is continuing to grow. The number of accounts and custody
accounts, as well as assets, have again increased significantly, and this
is precisely what we intend to continue driving forward in the future. We
intend to attract even more customers with our innovative products. We are
building smart and intelligent solutions that save our customers time and
money and make their lives just that little bit easier." Only recently
comdirect received the Silver Award at the renowned Efma-Accenture Awards
in Barcelona for its smartPay innovation. The smartPay app allows customers
to photograph, pay and subsequently archive invoices with a mobile device -
retrievable anytime, anywhere.

The number of customers in the B2B business line (ebase GmbH) rose by 2
thousand to 991 thousand in the first nine months. Total assets under
custody grew to EUR27.0bn (year-end 2015: EUR25.6bn). Net fund inflows,
which were almost entirely attributable to the portfolio volume, stood at
EUR1.6bn.

The comdirect group's total number of customers had increased to 3.048
million by the end of the first nine months of the year and its total
assets under custody rose to EUR69.9bn (year-end 2015: EUR65.5bn). Net fund