Corporate Communications vom 28.02.2012
Shareholders of DAB bank to enjoy a higher dividend
Shareholders of DAB bank to enjoy a higher dividend / Profit before taxes of EUR 25.73 million in financial year 2011 / Proposed dividend of 22 cents per share, corresponding to full distribution of distributable profit / Trades executed for customers up 13 % from 2010
Munich, February 28, 2012.
The DAB bank Group, Munich, generated a profit before taxes of EUR 25.73 million in financial year 2011. The decrease from the prior-year figure (2010: EUR 28.70 million) resulted in particular from impairment losses charged against the Greek bonds held in the treasury portfolio of the Austrian subsidiary direktanlage.at.
The annual shareholders´ meeting to be held on May 24, 2012 will be asked to approve a full distribution of the consolidated distributable profit, which would correspond to a dividend of 22 cents per share, to be paid out on a tax-exempt basis yet again. Last year, the dividend was 20 cents per share.
"The shareholders of DAB bank can look forward to a 10 % increase in the tax-free dividend and a dividend yield of 6.6 %," said Markus Gunter, Management Board Speaker of DAB bank. "We are optimistic about our future performance. We expect to generate a higher profit in financial year 2012."
The DAB bank Group executed 5.08 million trades for its customers in financial year 2011, reflecting a 13 % increase over the corresponding prior-year figure. In Germany alone, the bank executed 20 % more trades for its customers. Factors contributing this increase included not only the volatile stock markets, but also the numerous new products and services offered to customers of DAB bank in 2011. Thanks to the heightened trading activity of the bank´s customers, the net commission income of EUR 85.61 million was EUR 3 million higher than the corresponding prior-year figure.
Contrast, the net commission income was lower than the prior-year figure, as expected. Net interest income was stable, having declined only slightly from EUR 55.69 million to EUR 53.22 million. The trading profit, which had been favored in 2010 by catch-up effects following the financial crisis, came to EUR 0.63 million in 2011 (2010: EUR 13.72 million).
Despite further investments in new products and services and the higher number of trades executed for customers, DAB bank lowered its administrative expenses from EUR 115.28 million in 2010 to EUR 113.09 million in 2011. DAB bank will continue to place a high priority on active cost management in 2012.
In its continuing quest for qualitative growth, DAB bank is targeting investors and traders specifically in its new customer acquisition campaigns. The DAB bank Group carried 620,922 securities accounts for its customers in 2011, representing an increase of approximately 5,000 over the prior-year figure. At EUR 24.26 billion, customer assets held in custody were only 7 % less than the corresponding prior-year figure, and therefore declined by a much smaller percentage than the most important stock indexes, thanks in part to net inflows.
As part of its program for the future, "DAB one" DAB bank introduced numerous new products and services for the benefit of its investors and traders in 2011. By using the futures margin trading function, for example, traders can move large amounts on the EUREX with only a small amount of capital committed. And order functions like the trailing stop loss or combination orders make trading even more convenient for them. Thanks to the new "Star Partner ETF" program, investors can purchase ETFs at even more favorable terms. And since the beginning of 2012, customers of DAB bank can purchase savings-plan products such as "Flex Savings,Dream Savings and Driver´s License Savings" thanks to a cooperation agreement between the bank and the German motorists´ club ADAC.
The figures presented herein have not yet been audited. DAB bank will publish its annual report for financial year 2011 on March 20, 2012.
All figures have been adjusted for the figures of SRQ FinanzPartner AG, which has been classified as discontinued operations.
* Net financial income = Net interest income before credit risk provisions + Trading/profit loss + Profit/loss from investments
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