DGAP-News 205 0 Kommentare Baader Bank with strong first quarter results in 2022 - Seite 2

In the capital markets business Baader Bank has, among other things, advised on a capital increase and has acted as a specialist on several occasions for new listings, particularly on the Frankfurt Stock Exchange, including once again for a Special Purpose Acquisition Company (SPAC).

Total revenues for the first quarter of 2022 stood at EUR 57.0 million (Q1 2021: EUR 91.8 million). At EUR 48.8 million, the trading result remains at a high level (Q1 2021: EUR 76.8 million). Commission income decreased to EUR 5.0 million (Q1 2021: EUR 8.4 million). This is due to trade-related commission expenses that overcompensate for the actual increases in commission income.

Interest income remains characterised by the low-interest-rate environment and, together with current income, amounted to EUR 0.4 million (Q1 2021: EUR -0.3 million), i.e. at the level of the same quarter of the previous year. Revenues fell to EUR 2.5 million (Q1 2021: EUR 3.1 million). At the end of the quarter, other income stood at EUR 1.1 million (Q1 2021: EUR 3.8 million).

Growth investments in personnel and IT infrastructure

Total expenses at the end of the first quarter of 2022 amounted to EUR 46.7 million (Q1 2021: EUR 58.9 million). Personnel expenses amounted to EUR 17.6 million for the first quarter (Q1 2021: EUR 24.9 million). Due in particular to IT investments, the other administrative expenses and operating expenses rose to EUR 15.5 million (Q1 2021: EUR 12.6 million).

The quarterly result also includes expenses in the amount of EUR 9.8 million for the contribution to the fund for general banking risks.¹ The sum of the contribution has decreased in line with the development of the trading result.

As at 31 March 2022, the Group had 456 employees (in full-time equivalents) (31/12/2021: 448).

Total assets successively increased, strong CET 1 ratio

The robust growth is also reflected in the balance sheet total. At EUR 2.3 billion as of the reporting date 31 March 2022, this represents a further increase of 26 % compared with the end of last year (31 December 2021: EUR 1.82 billion).