DGAP-News: Baader Bank AG / Key word(s): 9 Month figures
Baader Bank generates earnings growth in the nine-month period 2021
After a very strong start to 2021 overall and a very high level of revenue over the course of the year, the Group's total income for the nine-month period amounted to EUR 171.7 million. Compared to the already very strong growth in the same period last year, this represents an increase of 10 % (9M 2020: EUR 155.7 mn). The high earnings level is based on a trading income that continues to increase in a nine-month comparison. This results in a total of EUR 147.1 million (9M 2020: EUR 119.8 mn), which corresponds to a further increase of 23 %. At EUR 80.1 million, revenues from the commission business at the end of the first nine months was around 14 % higher than in the previous year (9M 2020: EUR 70.5 mn).
The contributions to earnings of Baader Bank's three subsidiaries for the third quarter are slightly better than expected, therefore a positive contribution of EUR 4.2 million is estimated for the first nine months of 2021 (9M 2020: EUR 3.8 mn). Revenues generated by the wind farm business remained constant at EUR 8.5 million (9M 2020: EUR 9.0 mn). Net interest income improved to EUR -1.0 million (9M 2020: EUR -2.2 mn).
Total expenses for the first nine months of 2021 are almost unchanged compared to the previous year and amount to EUR 122.7 million (9M 2020: EUR 117.6 mn). Investments were made primarily in IT resources, with a focus on human resources. Thus, personnel expenses increased to EUR 57.3 million (9M 2020: EUR 48.7 mn).
The result for the first nine months includes the transfer of EUR 18.4 million1 to the fund for general banking risks (9M 2020: EUR 15.0 mn) and provisions and other non-regular depreciation/amortisation and write-downs of EUR 2.1 million as risk provision. (9M 2020: EUR 13.2 mn).
At the end of the third quarter, total assets were up by 65 % to EUR 1,463.7 mn compared to 31 Dec 2020 (EUR 888.6 mn). The balance sheet equity ratio is 10.8 % (31 Dec 2020: 13.6 %). The Common Equity Tier 1 quote (CET 1) as of 30 Sep 2021 is 17.3 % (31 Dec 2020: 14.6 %).
As of 30 September 2020, the Group had 437 employees (in full-time equivalents) compared to 388 as of 31 December 2020.
Market success defines the third quarter
With more than 380,000 securities accounts, optimised digital account opening processes and automated securities account and trading processes, Baader Bank considers itself well positioned for further growth in the platform business. The level of EUR 10.0 billion in deposits was crossed. In Baader Bank's business line market making, more trades were executed already in the 2021 nine-month period than in the whole of 2020.
Furthermore, Baader Bank successfully won mandates in the Capital Markets segment in the third quarter and for example supported the first European De-SPAC transaction with a German target company (HomeToGo). Additionally, a capital increase was successfully supported and placed for Brain Biotech AG. With a raised profile in the markets, Baader Bank is looking to the capital market environment with its rich future with optimism.
For the fourth quarter, the focus is on further developing the cooperation business with Fintech companies, digital asset managers and neo-brokers, among others, and securing its successful market position in exchange and over-the-counter market making in Germany. With regard to its earnings, Baader Bank is still on target and sticking to its forecast of exceeding the pre-tax profit from 2020 at Group level, under the assumption that the overall parameters remain unchanged.
Overview of key figures - 9M 2021 ²
For further information and media enquiries:
Florian E. Schopf
T +49 89 5150 1013
Baader Bank AG
|Company:||Baader Bank AG|
|Weihenstephaner Str. 4|
|Phone:||+49 89 5150 1013|
|Fax:||+49 89 5150 1111|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1244143|
|End of News||DGAP News Service|