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Corporate Communications vom 26.10.2004

DAB bank's nine-month profit is higher by 55.9% and securities accounts are up by 4,887

<h2>DAB bank's nine-month profit is higher by 55.9% and securities accounts are up by 4,887</h2> <div class="editor"> <p>Third quarter 2004: Consolidated pretax profit of EUR 2.7 million / Net commission income is higher, despite the drop in trades executed, thanks to good sales performance / Total expenses 12.9% lower / DAB adds 4,887 new securities accounts</p> </div> <div class="editor"> <p><strong>M&uuml;nchen, 26.10.2004.</strong> The DAB bank Group, Munich (www.dab-bank.de), which operates in Germany and Austria, earned a pretax profit of EUR 12.141 million in the first nine months of 2004, exceeding the prior-year figure by 55.9% (first nine months of 2003: EUR 7.786 million). DAB bank closed the third quarter of 2004 with a pretax profit of EUR 2.700 million (Q3/2003: EUR 6.332 million).<br> <br> The total expenses for the third quarter amounted to EUR 28.875 million, which was 12.9% less than the second quarter (Q2/2004: EUR 33.133 million), compared to the prior-year figure reduced by 3.7% (Q3/2004: EUR 29.990 million). The administrative expenses of EUR 22.014 million were not only lower than the second quarter of 2004 (Q2/2004: EUR 25.716 million), but also lower than the third quarter of 2003 (Q3/2003: EUR 23.253 million).</p> </div> <div class="editor"> <p>The net financial income of EUR 7.145 million (Q3/2003: EUR 7.288 million) was in accordance with plan. Brisk product sales of EUR 125 million made up for the 20.6% drop in customer trades from the preceding quarter. Net commission income was EUR 15.827 million (Q3/2003: EUR 19.006 million). The total income of DAB bank fell in the third quarter to EUR 31.943 million (Q3/2003: EUR 36.690 million).<br> <br> The cost-income ratio narrowed to 87.8% (Q2/2004: 88.7%). Earnings per share were EUR 0.03 (Q2/2004: EUR 0.03). DAB bank is sticking by its goals for the year, namely to increase its profit over the previous year and generate a return on equity of more than 10% as well as a net gain of 10,000 securities accounts.<br> <br> The number of customer securities accounts carried by the Group rose to 464,415 in the third quarter, reflecting a net gain of 4,887 securities accounts (Q2/2004: 459,528). Thus, the marketing initiative launched in the spring of this year has begun to yield positive results. The number of trades executed for customers came to 648,294, representing a 20.6% drop from the level of the preceding quarter (Q2/2004: 816,535). On the basis of the nine-month figures 2004, this translates to 7.11 trades per securities account and year (9-M/2003: 6.88). Customer assets under management rose slightly to EUR 12.85 billion (Q2/2004: EUR 12.78 billion).</p> </div> <div class="editor"> <p><strong>Key operating figures and results of DAB bank Group in the third quarter of 2004, according to IFRS:<br></strong></p> </div> <div class="tableContainerWide"> <h3>Key operating figures</h3> <table width="485" cellspacing="0" cellpadding="1" border="1" align="" class="tableContent"> <thead> <tr class="each"> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong>Q3 /2004<br></strong></th> <th scope="col" class=""><strong>Q2 /2004<br></strong></th> <th scope="col" class=""><strong>Q3 /2003<br></strong></th> <th valign="top" scope="col" class=""> <strong>9-M/2004<br></strong></th> <th valign="top" scope="col" class="last"> <strong>9-M/2003<br></strong></th> </tr> </thead> <tbody> <tr class="odd"> <td class="">Securities accounts<br> <br></td> <td class="">No.<br> <br></td> <td valign="middle" align="right" class=""><br> 464,415<br></td> <td valign="middle" align="right" class=""><br> 459,528<br></td> <td valign="middle" align="right" class=""><br> 459,777<br></td> <td valign="middle" align="right" class="">464,415<br></td> <td valign="middle" align="right" class="last">459,777<br></td> </tr> <tr class="each"> <td class=""><br> Trades executed<br></td> <td class=""><br> No.<br></td> <td valign="middle" align="right" class="">648,294<br></td> <td valign="middle" align="right" class="">816,535<br> <br></td> <td valign="middle" align="right" class="">903,730<br></td> <td valign="middle" align="right" class="">2,468,867<br></td> <td valign="middle" align="right" class="last">2,375,864<br></td> </tr> <tr class="odd"> <td class=""><br> Trades per securities account (annualized)<br></td> <td class="">No.<br> <br></td> <td valign="middle" align="right" class="">5.61<br> <br></td> <td valign="middle" align="right" class="">7.09<br> <br></td> <td valign="middle" align="right" class="">7.88<br> <br></td> <td valign="middle" align="right" class="">7.11<br></td> <td valign="middle" align="right" class="last">6.88<br></td> </tr> <tr class="each"> <td valign="top" class="">Customer assets under management<br> thereof in investment funds<br></td> <td valign="top" class="">&euro; bn<br></td> <td valign="middle" align="right" class="">12.85<br> <br></td> <td valign="middle" align="right" class="">12.78<br></td> <td valign="middle" align="right" class="">11.22<br></td> <td valign="middle" align="right" class="">12.85<br></td> <td valign="middle" align="right" class="last">11.22<br></td> </tr> <tr class="odd"> <td valign="top" class="">thereof in investment funds<br></td> <td valign="top" class="">&euro; bn<br></td> <td valign="middle" align="right" class="">5.30<br></td> <td valign="middle" align="right" class="">5.20<br></td> <td valign="middle" align="right" class="">4.56<br></td> <td valign="middle" align="right" class="">5.30<br></td> <td valign="middle" align="right" class="last">4.56<br></td> </tr> </tbody> </table> </div> <div class="tableContainerWide"> <h3>Results</h3> <table width="485" cellspacing="0" cellpadding="1" border="1" align="" class="tableContent"> <thead> <tr class="each"> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong>Q3 /2004<br></strong></th> <th scope="col" class=""><strong>Q2 /2004<br></strong></th> <th scope="col" class=""><strong>Q3 /2003<br></strong></th> <th valign="top" scope="col" class=""> <strong>9-M/2004<br></strong></th> <th valign="top" class="last" scope="col"> <strong>9-M/2003<br></strong></th> </tr> </thead> <tbody> <tr class="odd"> <td class="">Net financial income*<br> <br></td> <td class="">k&euro;<br> <br></td> <td valign="middle" align="right" class=""><br> 7,145<br></td> <td valign="middle" align="right" class=""><br> 11,663<br></td> <td valign="middle" align="right" class=""><br> 7,288<br></td> <td valign="middle" align="right" class="">25,585<br></td> <td valign="middle" align="right" class="last">23,858<br></td> </tr> <tr class="each"> <td class=""><br> Net commission income<br></td> <td class=""><br> k&euro;<br></td> <td valign="middle" align="right" class="">15,827<br></td> <td valign="middle" align="right" class="">15,579<br> <br></td> <td valign="middle" align="right" class="">19,006<br></td> <td valign="middle" align="right" class="">53,850<br></td> <td valign="middle" align="right" class="last">48,832<br></td> </tr> <tr class="odd"> <td class=""><br> Administrative expenses<br></td> <td class="">k&euro;<br> <br></td> <td valign="middle" align="right" class="">22,014<br> <br></td> <td valign="middle" align="right" class="">25,716<br> <br></td> <td valign="middle" align="right" class="">23,253<br> <br></td> <td valign="middle" align="right" class="">70,697<br></td> <td valign="middle" align="right" class="last">69,339<br></td> </tr> <tr class="each"> <td valign="top" class="">Pretax profit<br></td> <td valign="top" class="">k&euro;<br></td> <td valign="middle" align="right" class="">2,700<br> <br></td> <td valign="middle" align="right" class="">2,903<br></td> <td valign="middle" align="right" class="">6,332<br></td> <td valign="middle" align="right" class="">12,141<br></td> <td valign="middle" align="right" class="last">7,786<br></td> </tr> <tr class="odd"> <td valign="top" class="">Net profit<br></td> <td valign="top" class="">k&euro;<br></td> <td valign="middle" align="right" class="">2,328<br></td> <td valign="middle" align="right" class="">2,195<br></td> <td valign="middle" align="right" class="">3,789<br></td> <td valign="middle" align="right" class="">10,414<br></td> <td valign="middle" align="right" class="last">4,459<br></td> </tr> <tr class="each"> <td valign="top" class="">Cost-income ratio<br></td> <td valign="top" class="">%<br></td> <td valign="middle" align="right" class="">87.8<br></td> <td valign="middle" align="right" class="">88.7<br></td> <td valign="middle" align="right" class="">77.6<br></td> <td valign="middle" align="right" class="">84.2<br></td> <td valign="middle" align="right" class="last">88.6<br></td> </tr> <tr class="odd"> <td valign="top" class="">Earnings per share<br></td> <td valign="top" class="">&euro;<br></td> <td valign="middle" align="right" class="">0.03<br></td> <td valign="middle" align="right" class="">0.03<br></td> <td valign="middle" align="right" class="">0.05<br></td> <td valign="middle" align="right" class="">0.14<br></td> <td valign="middle" align="right" class="last">0.06<br></td> </tr> </tbody> </table> </div> <div class="editor"> <p><sup>*Net financial income = Net interest income before provisions for possible losses + Trading profit/loss + Profit/loss from investments.</sup></p> </div>
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