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DGAP-News flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

Nachrichtenquelle: EQS Group AG
11.05.2021, 12:30  |  104   |   |   

DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous
flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

11.05.2021 / 12:30
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt/Main, 11 May 2021

Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

- Legal merger simplifies Group structures, reduces complexity and costs

- Strengthened branch management team to further accelerate international growth

- DEGIRO customers will benefit from new product and service offers launched in H2 2021

- Significant upside to annual EUR 30m+ synergy guidance expected in the medium term

- "Vision 2025" under review due to the Group's excellent operating performance

Frankfurt/Main - flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest retail online broker has successfully finalized the legal merger of its subsidiaries DeGiro B.V. and flatexDEGIRO Bank AG and further strengthens the DEGIRO leadership team. In addition to his current role as Group CFO, Muhamad Chahrour, will join the branch management, becoming CEO of DEGIRO. Stephan Simmang, currently Co-Head IT of DEGIRO, and Frans Kuijlaars, currently Country Manager in the Netherlands, will be appointed additional branch managers. Esmond Berkhout and Peter Verberne will leave the Company. With the new team, simplified structures, continued operational tailwind and new customer offerings, the Company is very well positioned to significantly exceed the original synergy expectation in the medium term.

Nine months after closing the acquisition, DEGIRO has become a branch of flatexDEGIRO Bank under the supervision of the German Federal Financial Supervisory Authority (BaFin) as a result of the merger. This leads to a significant reduction in regulatory complexity and the number of internal corporate bodies. At the same time, the new structures will harmonize the corporate governance and allow for better steering and internal monitoring. Management expects further cost reductions and overall improvement of the risk profile while strengthening efficiency and capabilities.

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DGAP-News flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG 11.05.2021 / 12:30 The issuer is solely responsible for the content of this announcement. Corporate News / …

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