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Corporate Communications vom 26.07.2005

DAB bank AG: Pretax profit higher at €12.04 million for the first half of 2005

<h2>DAB bank AG: Pretax profit higher at &amp;euro;12.04 million for the first half of 2005</h2> <div class="editor"> <p>Second quarter 2005: Consolidated pretax profit for the Group is &euro;2.45 million / 11,709 net new customers added; customer base grows to 925,017 / Customer assets under management rise substantially to reach record level of &euro;21.14 billion</p> </div> <div class="editor"> <p><strong>Munich, 26.07.2005.</strong> The DAB bank Group (Munich), which operates in Germany and Austria, generated a pretax profit of &euro;2.450 million in the second quarter of 2005. Adjusted for the negative profit contribution of FSB FondsServiceBank GmbH (-&euro;0.800 million), the pretax profit for the second quarter of 2005 was &euro;0.347 million higher than the corresponding figure for the prior-year quarter (Q2/2004: &euro;2.903 million). For the first half of 2005, the DAB bank Group generated a pretax profit of &euro;12.036 million (first half 2004: &euro;9.441 million).<br> <br> The Group's total income for the second quarter of 2005 rose 16.6% to &euro;42.431 million (Q2/2004: &euro;36.404 million), of which amount FSB accounted for &euro;5.062 million. The net financial income amounted to &euro;8.187 million, roughly the same as the &euro;8.635 million generated in the first quarter of 2005 (Q2/2004: &euro;11.663 million). The group-wide net commission income rose to &euro;21.683 million (Q2/2004: &euro;15.579 million). About half of this<br></p> </div> <div class="editor"> <p>increase, or &euro;3.259 million, was contributed by FSB. Total expenses amounted to &euro;39.981 million (Q2/2004: &euro;33.133 million), of which amount FSB accounted for &euro;5.863 million. Administrative expenses rose from &euro;25.716 million in the prior-year quarter to &euro;29.823 million in the past quarter (of which FSB: &euro;4.215 million).<br> <br> The DAB bank Group added 11,709 net new customers in the second quarter of 2005, bringing the total number of securities accounts to 925,017 (Q2/2004: 459,528). Of the total group-wide number, DAB bank AG has 447,571 securities accounts (Q2/2004: 431,176), FSB 446,131 and direktanlage.at AG 31,315 (Q2/2004: 28,352). Customer assets under management rose by &euro;1.73 billion in the second quarter of 2005 to reach a new record level of &euro;21.14 billion, already surpassing the 20-billion-euro target for the full year. Customer assets under management have increased 65.4%, or &euro;8.36 billion, over the level of the prior-year quarter (Q2/2004: &euro;12.78 billion).<br> <br> DAB bank executed 2,015,516 trades in the second quarter, more than in the first quarter (1,982,855). This performance is satisfactory, considering that the overall market experienced a 7.4% drop in trades during the same period. Of the total number, 1,152,606 trades were executed by FSB, while DAB bank AG and direktanlage.at together executed 862,910 trades (Q2/2004: 816,535). On a full-year basis, this figure translates to 8.77 trades per securities account per year for the DAB bank Group (Q2/2004: 7.09).<br> <br> DAB bank has reaffirmed its profit goal for the full year 2005, which is to generate a consolidated pretax profit of &euro;21 million, representing a 30% increase over the preceding year.</p> </div> <div class="editor"> <p>Key performance indicators and operating results of the DAB bank Group in the second quarter 2005, according to IFRS:</p> </div> <div class="tableContainerWide"> <h3>Key performance indicators</h3> <table class="tableContent" cellspacing="0" cellpadding="1" width= "485" border="1"> <thead> <tr class="each"> <th class="" scope="col"><strong><br></strong></th> <th class="" scope="col"><strong><br></strong></th> <th class="" scope="col"><strong>Q2/2005<br></strong></th> <th class="" scope="col"><strong>Q1/2005<br></strong></th> <th class="" scope="col"><strong>Q2/2004<br></strong></th> <th class="" scope="col"><strong>1st HY/2005<br></strong></th> <th class="last" scope="col"><strong>1st HY/2004<br></strong></th> </tr> </thead> <tbody> <tr class="odd"> <td class="">Securities accounts<br></td> <td class="" valign="middle" align="right">No.<br></td> <td class="" valign="middle" align="right">925,017<br></td> <td class="" valign="middle" align="right">913,308<br></td> <td class="" valign="middle" align="right">459,528<br></td> <td class="" valign="middle" align="right">925,017<br></td> <td class="last" valign="middle" align="right">459,528</td> </tr> <tr class="each"> <td class=""><br> Trades executed<br></td> <td class=""><br> No.<br></td> <td class=""><br> 2,015,516<br></td> <td class="">1,982,855<br></td> <td class=""><br> 816,535<br></td> <td class=""><br> 3,998,371<br></td> <td class="last">1,820,573<br></td> </tr> <tr class="odd"> <td class=""><br> Trades per securities account (annualized)<br></td> <td class="">No.<br> <br></td> <td class="" valign="middle" align="right">8.77<br> <br></td> <td class="" valign="middle" align="right">8.95<br> <br></td> <td class="" valign="middle" align="right">7.09<br> <br></td> <td class="" valign="middle" align="right">8.97<br></td> <td class="last" valign="middle" align="right">7.91<br></td> </tr> <tr class="each"> <td class="" valign="top">Customer assets under mgmt<br> thereof in investment funds<br></td> <td class="" valign="top">&euro; bn<br></td> <td class="" valign="middle" align="right">21.14<br> 12.17<br> <br></td> <td class="" valign="middle" align="right">19.41<br> 10.98<br></td> <td class="" valign="middle" align="right">12.78<br> 5.20<br></td> <td class="" valign="middle" align="right">21.14<br> 12.17<br></td> <td class="last" valign="middle" align="right">12.78<br> 5.20<br></td> </tr> </tbody> </table> </div> <div class="tableContainerWide"> <h3>Key performance indicators</h3> <table width="485" cellspacing="0" cellpadding="1" border="1" align="" class="tableContent"> <thead> <tr class="each"> <th class="" scope="col"><strong><br></strong></th> <th class="" scope="col"><strong><br></strong></th> <th class="" scope="col"><strong>Q2/2005<br></strong></th> <th class="" scope="col"><strong>Q1/2005<br></strong></th> <th class="" scope="col"><strong>Q2/2004<br></strong></th> <th class="" scope="col"><strong>1st HY/2005<br></strong></th> <th scope="col" class="last"><strong>1st HY/2004<br></strong></th> </tr> </thead> <tbody> <tr class="odd"> <td class="">Net financial income*<br></td> <td class="">&euro; thsd<br></td> <td align="right" class="">8,187<br></td> <td align="right" class="">8,635<br></td> <td align="right" class="">11,663<br></td> <td align="right" class="">16,822<br></td> <td align="right" class="last">18,440<br></td> </tr> <tr class="each"> <td class="">Net commission income<br></td> <td class="">&euro; thsd<br></td> <td align="right" class="">21,683<br></td> <td align="right" class="">23,750<br></td> <td align="right" class="">15,579<br></td> <td align="right" class="">45,433<br></td> <td align="right" class="last">38,023<br></td> </tr> <tr class="odd"> <td class="">Administrative expenses<br></td> <td class="">&euro; thsd<br></td> <td align="right" class="">29,823<br></td> <td align="right" class="">27,637<br></td> <td align="right" class="">25,716<br></td> <td align="right" class="">57,460<br></td> <td align="right" class="last">48,683<br></td> </tr> <tr class="each"> <td valign="top" class="">Pretax profit<br></td> <td valign="top" class="">&euro; thsd<br></td> <td align="right" class="">2,450<br></td> <td align="right" class="">9,586<br></td> <td align="right" class="">2,903<br></td> <td align="right" class="">12,036<br></td> <td align="right" class="last">9,441<br></td> </tr> <tr class="odd"> <td valign="top" class="">Net profit for the year<br></td> <td valign="top" class="">&euro; thsd<br></td> <td align="right" class="">1,981<br></td> <td align="right" class="">7,966<br></td> <td align="right" class="">2,195<br></td> <td align="right" class="">9,947<br></td> <td align="right" class="last">8,086<br></td> </tr> <tr class="each"> <td valign="top" class="">Cost-income ratio<br></td> <td valign="top" class="">in %<br></td> <td align="right" class="">92.4<br></td> <td align="right" class="">76.4<br></td> <td align="right" class="">88.7<br></td> <td align="right" class="">83.5<br></td> <td align="right" class="last">82.7<br></td> </tr> <tr class="odd"> <td valign="top" class="">Earnings per share<br></td> <td valign="top" class="">&euro;<br></td> <td align="right" class="">0.02<br></td> <td align="right" class="">0.11<br></td> <td align="right" class="">0.03<br></td> <td align="right" class="">0.13<br></td> <td align="right" class="last">0.11<br></td> </tr> </tbody> </table> </div>
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