DGAP-News: DAB Bank's key operational indicators reach new

DGAP-News: DAB Bank AG / Key word(s): Quarter Results DAB Bank's key operational indicators reach new record levels in Q1/2015 28.04.2015 / 07:15 --------------------------------------------------------------------- DAB Bank's key operational indicators reach new record levels in Q1/2015 Trades executed and customer assets reach new records / First-quarter profit before taxes comes to EUR6.43 million Munich, April 28, 2015. The customers of the DAB Bank Group, Munich, were never as active in a three-month period as they were in the first quarter of this year, when they placed 1.97 million trade orders. Motivated by the continued positive performance of financial markets, they placed almost 32% more trade orders than they did in the very active first quarter of last year. Customer assets held in custody with DAB Bank also reached a new record high of EUR40.79 billion as of March 31, 2015. In the first quarter alone, customer assets increased by a net total of approximately EUR4.4 billion, thanks to market effects and net fund inflows. Furthermore, DAB Bank added slightly more than 12,300 new customers in the first quarter, bringing the total to 662,891. This is the biggest quarterly increase in the number of customers since 2007. Moreover, the number of securities accounts carried for customers rose by almost 7,000 to 632,689. "Rarely in the history of DAB Bank have our operating results been as good as in the first quarter of this year," said Ernst Huber, Spokesman of the Management Board of DAB Bank. "This excellent performance can be credited to our convincing line-up of products and services. The numerous awards and distinctions we have received in customer surveys and product tests prove that DAB Bank is one of the best institutions in both brokerage and banking." The consolidated profit before taxes of the DAB Bank Group amounted to EUR6.43 million in the first quarter of 2015. This amount is modestly below the profit before taxes for the first quarter of last year (Q1 2014: EUR6.87 million), but well above the profit before taxes (adjusted for non-recurring effects) of the preceding quarter (Q4 2014: EUR4.63 million). Thanks to the very high number of trades executed, the net commission income of EUR29.42 million was 29% higher than the year-ago figure. The net interest income earned in the first quarter of 2015 was considerably less than the corresponding figure for the fourth quarter of 2014, when interest income was generated on the liquidation of direct investments held with the previous majority shareholder UniCredit Bank AG in connection with the acquisition of a majority interest by BNP Beteiligungsholding AG. Also due to the generally lower level of interest rates, first-quarter net interest income came to only EUR8.04 million, representing a 35% decrease from the corresponding year-ago figure. The trading profit and profit from investments rose from EUR0.65 million in Q1 2014 to EUR1.05 million in Q1 2015. The total operating income of EUR37.90 million was 5.9% higher than the corresponding year-ago figure. At EUR30.11 million, administrative expenses were 5.7% higher than the corresponding figure for Q1 2014, particularly as a result of the higher clearing and settlement expenses incurred in connection with the high number of trades executed. On March 27, 2015, the new majority shareholder BNP Paribas Beteiligungsholding AG announced that the cash compensation to be paid to the minority shareholders in connection with the squeeze-out resolution to be adopted at the annual shareholders' meeting planned for May 29, 2015 will be EUR4.78 per share. After the squeeze-out, DAB Bank AG will be merged into BNP Paribas Beteiligungsholding AG. The corresponding merger agreement was already signed on April 13 of this year. It is subject to the condition precedent that the resolution of the annual shareholders' meeting ordering the transfer of shares held by the remaining minority shareholders to BNP Paribas Beteiligungsholding AG as the principal shareholder will be recorded in the Commercial Register of DAB Bank AG. Key operational indicators and operating results of DAB Bank in Q1 2015 according to IFRS: <pre> Key operational indicators Q1/2015 Q4/2014 Q1/2014 Customers No. 662,891 650,549 628,006 Securities accounts No. 632,689 625,769 617,767 Bank accounts No. 266,969 252,892 218,547 Trades executed No. 1,967,876 1,496,450 1,494,366 Trades per securities account, No. 12.51 8.88 9.68 annualized Customer assets held in custody EUR bn 40.79 36.37 33.59 Thereof in investment funds EUR bn 20.30 17.91 16.11 Operating results Q1/2015 Q4/2014 Q1/2014 Net interest income kEUR 8,035 32,177 12,361 Trading profit and profit from kEUR 1,046 3,749 646 investments Net commission income kEUR 29,420 21,606 22,772 Administrative expenses kEUR 30,111 27,273 28,484 Profit before taxes kEUR 6,428 29,529 6,873 Profit after taxes kEUR 4,364 19,418 4,600 Cost-income ratio in % 82.4 48.0 80.6 Earnings per share EUR 0.05 0.21 0.05 </pre> --------------------------------------------------------------------- 28.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: DAB Bank AG Landsberger Straße 300 80687 München Germany Phone: +49 (0)89 500 68 1696 Fax: +49 (0)89 500 68 669 E-mail: ir@dab.com Internet: www.dab-bank.de ISIN: DE0005072300 WKN: 507230 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 349199 28.04.2015