03.04.2017 - comdirect bank AG plans merger with OnVista Bank GmbH
Quickborn, Germany, 3 April 2017 - 12:18 CET - Following the approval of the banking supervisory and antitrust authorities, comdirect bank AG (ISIN DE0005428007*) successfully completed the acquisition of OnVista AG today as notified in the ad hoc announcement of 9 December 2016, and now plans to merge OnVista Bank GmbH into comdirect bank AG. The merger is expected to be completed during the second quarter of this year. Customers of OnVista Bank shall keep their IBAN and login details, and the pricing policies are to be maintained. The name OnVista Bank and OnVista Media GmbH with the www.onvista.de financial portal are to be continued.
OnVista Bank GmbH currently has total assets under management of approximately €2.5bn and a total of around 98 thousand customers (as of December 2016), to whom it offers the full range of products in securities trading.
The aim of the merger is to simplify the structure under corporate law as well as the associated regulatory reporting system. The merger will lay the foundation for the successful further development and continued profitable growth of the comdirect group. This is expected to lead to additional pre-tax profit of around €10m per year from 2019.
Please direct any questions to: Anke Overkamp, Investor Relations, comdirect bank AG, Pascalkehre 15, 25451 Quickborn, Germany, Tel.: +49 (0)4106 704 1966, Fax: +49 (0)4106 704 1969, Email: email@example.com
* Admitted for trading on the regulated market of the Frankfurt Stock Exchange
End of ad hoc announcement