EQS-News

Baader Bank starts collaboration with Smartbroker

EQS-News: Baader Bank AG / Key word(s): Alliance Baader Bank starts collaboration with Smartbroker 05.12.2022 / 14:00 CET/CEST The issuer is solely responsible for the content of this announcement.

Baader Bank starts collaboration with Smartbroker

Baader Bank is targeting further growth in its collaboration business. With the Berlin-based Smartbroker Group (formerly: wallstreet:online Group), Baader Bank is gaining another sizeable B2B platform partner for its trading and account business.

 

Smartbroker is relaunching its online brokerage service, with Baader Bank as its new partner bank for accounts and securities accounts based on a B2B2C model. Baader Bank is also providing support with the processing of trading and transactions. The new partnership will generate a significant increase in the bank’s retail customer base. With the relaunch of its brokerage offering, Smartbroker is expanding its target group by making an app available, introducing trading in cryptocurrencies and providing junior, community and business securities accounts.

"The collaboration with Baader Bank will allow us to grow our client base, support our clients and design our products exactly as we have envisaged. In particular, it is important to us to forge ahead with product development, online access for customers and organising our strategies for communicating with clients in the context of our media offerings. We are delighted to be able to implement further growth in the future by taking this step", says André Kolbinger, founder and CEO of Smartbroker Holding AG.

Baader Bank continues to follow a growth trajectory with its medium- and long-term strategic objectives. The number of securities accounts has grown by 54 % since the start of the year, to a total of 772,000 accounts at the end of the nine-month period of 2022 (31 December 2021: 502,000 accounts). Despite uncertainties in the market, the Group's account volume has increased by 21 % to EUR 14.9 billion since the beginning of the year (31 December 2021: EUR 12.3 billion). The bank is continuing to secure growth in the account and securities account business with new cooperative partnerships in the European market as well.