DGAP-News

comdirect bank AG: Strong start to the year: comdirect generates EUR27.4m pre-tax profit in the first quarter of 2017 - Seite 2

Another reason for the strong result is the flexible and conscious management of costs and investments in this challenging market environment. Administrative expenses were lowered by 3.5% to EUR62.7m (previous year: EUR65.0m).

The total number of comdirect group customers climbed to 3.13 million in the first quarter, up 17 thousand. Total assets under management increased by EUR4.3bn to the record level of EUR80.03bn. Net fund inflows in the group totalled EUR1.8bn, of which EUR1.3bn went to securities custody accounts alone. "Ever more customers are doing ever more securities business with us," says Walter. "This is exactly how it should continue. After all, securities investment is essential in the long-term accumulation of wealth."

From mid-May, comdirect will be offering digital asset management, which customers can use to invest amounts from EUR3,000. In the process, the customers answer some questions and subsequently receive an investment proposal tailored to them. They then select whether to make their own choices to buy or sell securities, to make investment decisions using a fully automated advice service, or to delegate the investment entirely to comdirect. "We are convinced that this will offer all investor types the product best suited to them. The future of investment is digital," says Walter.

Furthermore, comdirect will shortly be one of the first banks to offer its own skill for the real-time call-up stock exchange prices via Alexa. Using Amazon's digital speech assistant, a total of over 10,000 equity prices can be called up worldwide. According to Walter, "Speech assistants herald a new era in the digitalisation of banking business, since they dovetail smoothly with users' daily experience." By offering this, comdirect is making another step in the direction of becoming a smart financial companion, with which customers save time and money, making their lives just a little bit easier.

The number of customers in the B2C business line (comdirect bank AG) increased by 16 thousand to 2.10 million in the first quarter. Over the same period, the number of custody accounts also rose by 16 thousand to 1.02 million and the number of current accounts increased by 22 thousand to 1.38 million. Total assets under management grew to EUR48.65bn, compared with EUR46.00bn at the end of 2016. "The acquisition of onvista AG concluded at the beginning of April is accelerating our growth even further. We are obtaining around EUR3bn in assets under management and around 100 thousand actively trading customers. In addition, we are increasing our reach with securities customers via onvista.de, one of the most successful financial platforms on the German market," explains Walter. The next step will involve gradually transforming the entire image of onvista by giving it a new corporate design. A more modern, fresher look for onvista has been derived based on the comdirect group's existing design.