DGAP-News

Strong half-year pre-tax result for comdirect: EUR 43.7m - Seite 2

contributed to this growth. With a rise of 42 thousand to 1.09 million
customers, the current account remains the strongest growth driver. The
number of Tagesgeld PLUS ("daily money plus") accounts increased by 28
thousand to 1.49 million and the number of custody accounts by 12 thousand
to 852 thousand.

In the second quarter, comdirect launched its online offering "Better
financial investments". The investment assistant enables everyone -
including novice investors - to make their own financial decisions. Just a
few personal details are required to obtain a structured and comprehensible
investment proposal free of charge for one-off investments and now for
savings plans starting from EUR 100 as well. Moreover, the focus on
cost-effective index funds (ETFs) increases the chances of achieving
returns. "This is unique in Germany to date," explains Reitmeyer. "I
believe that much of the complexity in financial advice is unnecessary
nowadays and we are basing our offering on clarity and transparency
instead. This is because investing doesn't have to be daunting, not even
for novice securities investors," adds Reitmeyer.

In the B2B business line (ebase GmbH), the number of customers serviced
fell by 17 thousand to 985 thousand. The decrease affected the first
quarter in particular and stems primarily from the cancellation of custody
accounts for capital-building payments and other savings plans that expired
at the end of the year. Assets under custody climbed to EUR 23.37bn
(year-end: EUR 23.16bn).

At the end of the first half of the year, the total number of customers in
the comdirect group stood at 2.83 million and total assets under custody
increased to EUR 57.00bn.

Overview*

EUR'000                 Q1/13   Q2/13   Q3/13   Q4/13   Q1/14    Q2/14



Net interest income

after provisions       33,382  33,792  36,032  34,006  34,854   36,905

Net commission income  46,013  46,764  46,503  49,050  51,573   43,787

Other income            8,025   2,299     724   3,308   2,510    5,635

Administrative

expenses               63,751  63,565  60,197  72,353  64,808   66,728

Pre-tax profit         23,669  19,290  23,062  14,011  24,129   19,599

After-tax profit       17,354  14,476  16,760  11,944  17,875   14,494

EUR'000                          H1/13            H1/14           H1/14 vs.

                                                                      H1/13

Net interest income

after provisions                67,174           71,759                6.8%

Net commission income           92,777           95,360                2.8%

Other income                    10,324            8,145              -21.1%

Administrative

expenses                       127,316          131,536                3.3%