EQS-News

Baader Bank reports excellent results in first quarter of 2024 - Seite 2

The total revenue was therefore EUR 62.2 million (Q1 2023: EUR 47.1 million), which constitutes an increase of 32 % in comparison with the same period last year.

Total expenses increased by 15 % to EUR 52.3 million in the first quarter of 2024 (Q1 2023: EUR 45.3 million). Personnel expenses rose to EUR 21.2 million (Q1 2023: EUR 19.0 million), which is due mainly to the planned increase in staff capacities in the past quarters. As of 31 March 2024, the Group had 566 employees (in full-time equivalents;  31 December 2023: 560).

Operating expenses amounted to EUR 21.0 million, having decreased compared to the same period of the previous year due to targeted cost management, even though business growth declined (Q1 2023: EUR 21.8). This continues to be heavily influenced by investments in the IT infrastructure to optimise platform functionalities.

Pension expenses in the amount of EUR 10.2 million (Q1 2023: EUR 4.5 million) also includes allocations to the fund for general banking risks (EUR 8.5 million; Q1 2023: EUR 6.1 million).

The positive contributions to earnings made by the three subsidiaries of Baader Bank Group — Baader Helvea Group in Switzerland, Baader & Heins Capital Management AG and Selan Group — bolstered the Group's annual result.

Focus on Baader Bank's trading services

I n the current financial year, Baader Bank is focussing on its trading services in its external communications. The 'Baader Trading' brand was introduced at the beginning of the year to provide a summarised overview and will be further established from now on. With the new brand, Baader Bank is aiming to further strengthen its trading services, expand its own market position and increase brand awareness.

Solid capitalisation forms basis for growth and investment

As at 31 March 2024, Baader Bank's total assets had increased to EUR 4.1 billion compared to the end of the previous financial year (31 December 2023: EUR 3.9 billion). Baader Bank's equity had increased to EUR 169.7 million (31 December 2023: EUR 165.5 million) and the aggregate regulatory capital ratio at the end of the year was 20.8 %. The consolidated return on equity after tax amounted to 10.4 % at the end of the first quarter of 2024