Baader Bank achieves record results in past financial year

Baader Bank achieves record results in past financial year

On All data is based on provisional and unaudited consolidated figures.

• At EUR 72.9 million, Baader Bank's Group earnings before tax in 2025 have increased by 81 % compared to the previous year.
• Total revenue in the past financial year amounted to EUR 320.2 million, an increase of 29 % over the figure recorded in 2024.
• The return on equity after tax has risen to 26.8 % at Group level.

 

On the basis of preliminary and unaudited consolidated figures for the 2025 financial year, Baader Bank increased its Group earnings before tax to a total of EUR 72.9 million (2024: EUR 40.2 million). For 2025, consolidated earnings after tax stood at EUR 50.7 million (2024: EUR 23.5 million) and earnings per share after tax at EUR 1.04 (2024: EUR 0.48).

The more volatile general mood on the stock exchange environment in the course of 2025 compared to the previous year had a fundamentally positive impact on Baader Bank's capital market and securities trading business over the past financial year. 2025 was marked by tariff threats, a gold and silver rally, AI growth potential, political unrest and global hotspots — while at the same time a large number of stock indices (nevertheless) reached new all-time highs over the course of the year. Market volatility showed significant upward swings at times over the past financial year. A significant peak in volatility, measured by the CBOE Volatility Index, was reached on 8 April 2025, with the third-highest value in more than twenty years.

The high volumes on global stock exchanges and the increase in order numbers, particularly on the gettex trading platform, as well as the gain in market share, had an overwhelmingly positive impact throughout 2025 on earnings from the trading business, which almost doubled to EUR 131.3 million in comparison to the previous year (2024: EUR 66.7 million). Earnings from the commission business amounted to EUR 113.3 million (2024: EUR 102.3 million), representing significant growth compared to the previous year. Earnings from the interest business, on the other hand, declined slightly year-on-year to EUR 45.4 million (2024: EUR 48.5 million), which is mainly due to a decline in customer deposits and a slight fall in interest rates. At EUR 12.5 million, sales revenue increased slightly (2024: EUR 11.5 million).

This clearly positive earnings trend is reflected in a further 29 % increase in total revenue in the 2025 financial year to EUR 320.2 million (2024: EUR 247.7 million). In contrast, total expenses in the past financial year rose by only 19 %, to EUR 247.3 million (2024: EUR 207.5 million). The main driver of the increase is personnel expenses, which rose to EUR 116.8 million, taking into account variable remuneration components and increased staffing levels (2024: EUR 92.2 million). As at 31/12/2025, the Group's total number of employees (in full-time equivalents) amounted to 678 (2024: 631). In addition, operating expenses rose to EUR 112.9 million, mainly due to investments in the IT sector (2024: EUR 97.5 million). By contrast, at EUR 17.7 million, pension expenses remained almost unchanged (2024: EUR 17.8 million) and include planned transfers to the fund amounting to EUR 13.5 million for general banking risks¹ (2024: EUR 11.8 million). The return on equity after tax increased further in the past financial year and, at 26.8 %, was significantly higher than the previous year's figure of 14 %.

 

Strong growth with long-term partners in the B2B2C business

Due to the de-migration of a cooperation partner at the end of 2025, the number of customers and managed customer assets decreased by around one third year-on-year. If the de-migration effect is not taken into account, the number of customers and managed customer assets with existing cooperation partners continued to grow significantly in the 2025 financial year, at 33 % (number of customers) and 38 % (managed customer assets) respectively.

Overall, the effects of the de-migration were noticeably offset by steady growth in new customers with existing and new cooperation partners in this business segment, and growth with existing cooperation partners continued.

In the past financial year, new cooperation partnerships and asset management clients, such as MyMarkets and JoeBroker, were connected to the Baader Bank platform. The deepening of cooperation with NAO was also advanced by ensuring scalability in the handling of private market funds (ELTIFS).

Together with its cooperation partners, Baader Bank is constantly expanding its product portfolio in order to offer customers innovative and market-driven solutions, such as 24/7 crypto trading, bond trading, the use of interest and currency accounts, and the extension of trading hours, such as the recent extension of trading hours on Saturdays from 2pm to 7pm in over-the-counter trading.

The volume of cryptocurrency trading in the context of the B2B2C cooperation business experienced increased by approximately 50 % in the past financial year compared to the previous year.

Over the course of the financial year, Baader Bank focused on the marketing initiative for its trading offering under the brand name Baader Trading. In addition to increasing brand awareness and establishing digital channels, such as the pricing website www.baadertrading.de in particular, continuing to optimise the trading offering in collaboration with the Bank's numerous trading partners was key. This also included recent offerings such as weekend trading and the Baader Trading Days event for private investors, which took place on 25 and 26 October 2025.

 

Solid equity base

Owing to the de-migration of a cooperation partner and the associated decline in customer deposits during the reporting period, Baader Bank's total assets declined to EUR 3.2 billion (31/12/2024: EUR 4.8 billion). This effect could only be partially compensated by acquiring new customers.

Thanks to the excellent earnings performance, equity increased to EUR 232.9 million (31/12/2024: EUR 189.4 million). The derived regulatory total capital ratio for Baader Bank AG as at 31/12/2025 was 20.93 %. Furthermore, the total capital ratio in the group of institutions relevant for regulatory purposes was 22.29 % as at 31/12/2025.

With this solid equity base, Baader Bank is in a strong position to invest strategically in further growth and to meet regulatory capital requirements.

 

 

¹ The transfer to the fund for general banking risks also takes into account the statutory transfer to the fund for general banking risks at the end of the year in accordance with Section 340e HGB.

 

Overview of key figures 2025 

provisional and unaudited consolidated figures

		1/1/-31/12/2025
in € mn		2025		2024		Delta
Result from interest business		45.4		48.5		-3.1
Result from commission business		113.3		102.3		11.0
Result from trading activities		131.3		66.7		64.6
Revenur		12.5		11.5		1.0
Other income		17.6		18.6		-1.0
Income		320.2		247.7		72.5
Personnel expenses		116.8		92.2		24.6
Other operating expenses		112.9		97.5		15.4
Risk provision		17.7		17.8		-0.2
Expenses		247.3		207.5		39.8
Earnings before tax (EBT)		72.9		40.2		32.7
Taxes		22.3		16.6		5.7
Minorities		-0.2		0.0		-0.2
Group results		50.7		23.5		27.2
Earnings per share in EUR		1.04		0.48		0.56
Return on equity after tax in %		26.8		14.2		12.6

 

 

		As of reporting date
		31/12/2025		31/12/2024		Delta
Total assets in € mn		3,235		4,825		-1,590
Equity capital in €		232.9		189.4		43.5
Total capital ratio in %		22.29		22.21		-

 

 

 

 

For further information and media inquiries: 

Marlene Constanze Hartz

Senior Manager

Group Communication

T +49 89 5150 1044

marlene.hartz@baaderbank.de  

 

Baader Bank AG

Weihenstephaner Strasse 4

85716 Unterschleissheim, Germany

https://www.baaderbank.de

www.baadertrading.de
 

Next dates:

14/03/2026  Börsentag Vienna

28/03/2026  Anlegertag Munich

26/03/2026  Corporate News on the final annual results for 2025

 

 

About Baader Bank AG:

Baader Bank is one of the leading European partners for investment and banking services. Trading and banking are combined using a single powerful platform that offers a unique set-up and optimum access to the capital market using a secure, automated and scalable approach. As a family-run full-service bank with its headquarters in Unter-schleissheim near Munich, Baader Bank AG employs around 650 staff members and operates in Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.

The Baader Trading brand unites the trading activities and services of Baader Bank.