comdirect publishes 2008 annual report
Pre-tax profit of EUR 77.8m - launch of new complus programme - growth continues in new financial year

Quickborn, 20.03.2009

Quickborn. comdirect bank is publishing its annual report for 2008 today. The new annual report confirms the figures presented at the press conference in February. comdirect bank achieved pre-tax profit of EUR 77.8m (previous year: EUR 90.5m) in financial year 2008, outstripping its target of EUR 70m by more than 10%.
At EUR 57.7m, after-tax profit matched that of the previous year. At the same time,
EUR 73m was spent on growth, more than ever before. A dividend of 41 cents per
share will be proposed to the annual general meeting, which corresponds to the
same level of dividend in the previous year.

comdirect bank achieved strong growth in adverse market conditions in 2008. The
number of customers increased by 348,575, or 35%, to 1,349,297. At the year-end,
814,516 customers held a Tagesgeld PLUS account, more than double the number of
accounts held in the previous year. In addition, the number of current accounts rose
by 26% to 425,149 and the number of custody accounts by 8% to 697,806. In advice,
subsidiary comdirect private finance serviced 46,585 customers at the year-end, 43%
more than at the close of 2007. The mortgage offering launched in January 2008
outperformed expectations, placing financing of around EUR 200m.
comdirect bank continued its growth in the new financial year. The number of
customers, for example, increased in the first two months to 1,372,182. The number
of current accounts rose to 456,291 and the number of Tagesgeld PLUS accounts to

The new complus programme launched in February 2009 is set to ensure comdirect
bank's further expansion. Through complus, the direct bank is developing new,
attractive and clear products and services. Moreover, the bank intends to further
improve customer satisfaction levels and consequently product penetration through
targeted and direct customer contact. The basis for this is the effective comdirect
platform and further optimisation measures are set to increase productivity and
efficiency and generate additional economies of scale. Furthermore, new direct-bank
type advisory models will be developed for building finance, investments and

Through complus, comdirect bank intends to continue to grow and become even
more profitable. By 2013, the direct bank aims to achieve pre-tax profit of between
EUR 150m and EUR 160m. At the same time, the number of customers is to be
increased by 1 million to 2.3 million and assets under custody to more than
EUR 40bn.

The new comdirect annual report is now available to download as a pdf file at The full annual report will also be published as an
online version on 27 March. The online version has a number of additional functions
such as the full text search and Quick Analyser, which enables the user to show and
compare figures interactively. The "My annual report" function also allows the user to
individually compile selected sections of the annual report. The most important tables
in the financial report can also be downloaded in Excel format.

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