DGAP-News

comdirect half-year result: EUR50.9m before taxes -EUR85bn total assets under management

DGAP-News: comdirect bank AG / Key word(s): Half Year Results comdirect half-year result: EUR50.9m before taxes -EUR85bn total assets under management 01.08.2017 / 07:30 The issuer is solely responsible for the content of this announcement. comdirect half-year result: EUR50.9m before taxes -EUR85bn total assets under management

• Growth of assets under management: up EUR9.1bn, of which EUR3.0bn from the acquisition of onvista bank and EUR4.0bn of net fund inflows
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• Growth of customer base: up 150 thousand, of which 102 thousand from the acquisition of onvista bank
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• cominvest: EUR100m threshold exceeded in invested customer funds
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• Profit target for 2017 as a whole: around EUR85m before taxes
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Quickborn, Frankfurt/Main, Germany, 1 August 2017. The comdirect group closed the first half of 2017 with pre-tax profit of EUR50.9m. The previous year's high value (EUR87.9m) was due to the non-recurring income of around EUR41m before taxes resulting from the membership of Visa Europe and its integration into Visa Inc. USA. Without the exceptional Visa effect, the half-year pre-tax profit is 9% above the previous year. "We've achieved a good result, even given the persistently challenging situation for banks of zero interest rates", says Arno Walter, comdirect bank AG CEO. Pre-tax return on equity stands at 17.4% (previous year: 31.9%). "We have strengthened our position as one of the leading German online brokers with the addition of onvista bank and gained one of the market's most successful platforms with the onvista.de portal. We have introduced cominvest, offering the right digital investment whatever the requirement and will be building on this in the second half of the year. We are aiming for pre-tax profit of around EUR85m for the year as a whole," said Walter. That corresponds to return on equity of over 14%.