Baader Wertpapierhandelsbank AG / Miscellaneous 31.07.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Unterschleissheim (Germany) 31 July 2008 The path to becoming a fully functional bank is clear for Baader Wertpapierhandelsbank AG of Unterschleissheim. Baaders application for this status has been agreed to by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin German Financial Supervisory Authority). At the same time, Baader will become a member of the Entschädigungseinrichtung deutscher Banken (EdB Compensation Fund of German Banks). Once the entry into the commercial register has been completed, the institution will be known under its corporate name, Baader Bank AG. 'Receiving the full banking licence is a significant sign of the faith that is placed in the capability of our bank', commented Uto Baader, Chairman of the Baader Wertpapierhandelsbank AG Board of Directors. The BaFin has granted Baader Wertpapierhandelsbank AG of Unterschleissheim an extension to its permit to conduct banking business pursuant to article 1 (1a) clause 2 numbers 1a, 1c and 3 as well as clause 3 of the Kreditwesengesetz (KWG German Banking Act) (investment advice, placement business, financial portfolio management as well as own account deals) as well as to conduct banking business pursuant to article 1 (1) clause 2, numbers 1, 2, 5, 8 and 9 of the KWG (deposit business, lending business, safe custody business, guarantee business and giro business). With effect of this notification, the soon to be Baader Bank AG will become a member of the EdB and thus leave the Entschädigungseinrichtung der Wertpapierhandelsunternehmen (EDW German Compensatory Fund of Securities Trading Companies). This means that Baader Wertpapierhandelsbank AG has met the requirements necessary to merge with its wholly owned full-bank subsidiary, Baader Service Bank GmbH, retrospectively as at 1 January 2009. This planned streamlining of the Group structure enables the Baader Group to create synergies in the areas of IT, processing and risk control and generates the basis for continued growth in the core business areas, which are currently covered by Baader Service Bank. A merger will mean that the services that, to date, have been offered by two institutions, can now be bundled into a financially sound and efficient banking unit. 'At the same time, we are expanding the equity base for the business operated by Baader Service Bank', added Uto Baader. Baader Service Bank GmbH operates as an all-round service provider for asset managers and other institutional customers as well as an arranger of financial innovations with a high level of quality in advice and service. The main products and services provided by the Bank include certificates, publicly offered funds, single hedge funds and funds of hedge funds as well as managed accounts. Baader Service Bank currently has 26 employees and reported net profit of EUR 0.56 million with total assets of EUR 53.3 million in 2007. Thomas Spengler Corporate Communications Manager Baader Wertpapierhandelsbank AG Postfach 1102 85701 Unterschleissheim Germany Tel. +49 (0) 89/5150-1030 Fax: +49 (0) 89/5150-2424 Mobile: +49 (0) 160/7188830 E-mail: Thomas.Spengler@Baaderbank.de DGAP 31.07.2008 --------------------------------------------------------------------------- Language: English Issuer: Baader Wertpapierhandelsbank AG Weihenstephaner Str. 4 85716 Unterschleissheim Deutschland Phone: +49 (0)89/ 5150-0 Fax: +49 (0)89/ 5150-1111 E-mail: Info@Baaderbank.de Internet: www.Baaderbank.de ISIN: DE0005088108 WKN: 508810 Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), München, Stuttgart; Freiverkehr in Hannover, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Baader Wertpapierhandelsbank AG: Baader Wertpapierhandelsbank becomes Baader Bank AG with a full banking licence synergies due to integration of subsidiary
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