15.03.2001 - comdirect bank group: Consolidated pre-tax profit...
comdirect bank group: Consolidated pre-tax profit of EUR 25.6 million for the business year
Quickborn, Germany, 15 March 2001.
comdirect bank Aktiengesellschaft ( WKN 542 800 ) presents its first ever consolidated financial statements for the business year 2000. In addition to the results of comdirect bank AG, Quickborn, Germany, the consolidated financial statements also include the affiliated companies comdirect ltd, London, comdirect S.A., Paris, and comdirect bank S.p.A., Milan.
comdirect recorded a very strong growth in the number of new customers during the business year 2000, increasing its group-wide customer base by 300,000 to 577,465 as at 31 December 2000. A higher trading activity, which is reflected in a total of 10.3 million executed orders, led to an improved earnings situation of the comdirect bank group as compared to 1999.
During the past business year, the higher trading activity of comdirect's customers resulted in an increase of EUR 113.6 million in net commission income from online brokerage orders for the comdirect bank group. In 2000, net commission income within the group grew from EUR 77.3 million ( comdirect bank AG: EUR 77.3 million ) to EUR 190.9 million ( comdirect bank AG: EUR 189.8 million ), an increase of 147 percent. Net interest income before provisions went up 156.5 percent to EUR 57.7 million ( comdirect bank AG: EUR 56.7 million) compared to the business year 1999.
Administrative expenses increased from EUR 85.4 million ( comdirect bank AG: EUR 79.1 million) to EUR 221.0 million ( comdirect bank AG: EUR 179.4 million) during the past year. Included in this figure are expenses caused by the commencement of operations of comdirect's European subsidiaries and the establishment of a second German location of comdirect bank AG in Kiel.
In the business year 2000, the consolidated pre-tax profit grew from EUR 14.6 million ( comdirect bank AG: EUR 20.8 million) to EUR 25.6 million ( comdirect bank AG: EUR 67.2 million), an increase of 75.3 percent compared to 1999. Net income for the year declined from EUR 10.5 million ( comdirect bank AG: EUR 16.7 million) to EUR 2.7 million ( comdirect bank AG: EUR 35.2 million) from 1999 to 2000.
comdirect bank AG
Investor Relations - Gregor Sparfeld
Tel.: ++49 / 4106 / 704 - 1966
Fax. ++49 / 4106 / 704 - 1969