DGAP-News: DAB bank AG / Key word(s): Preliminary Results
DAB Bank increases profit before taxes to EUR 28.03 million in
financial year 2012

21.02.2013 / 07:30

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DAB Bank increases profit before taxes to EUR 28.03 million in 
financial year 2012

Proposed dividend of 21 cents per share, corresponding to full distribution
of distributable profit / High net cash inflows cause growth in customer
assets under management by more than four billion euros / Broader offerings
of traditional banking products to strengthen customer growth

Munich, February 21, 2013. The DAB Bank Group, Munich, increased its profit
before taxes to EUR 28.03 million in financial year 2012, a 9 percent
increase compared to the prior year (2011: EUR 25.73 million).   The annual
shareholders' meeting to be held on May 16, 2013, will be asked to approve
a full distribution of consolidated unappropriated net profit, which would
correspond to a dividend of 21 cents per share, to be paid out on a
tax-exempt basis yet again.  In the fourth quarter of 2012, DAB Bank
achieved a profit before taxes of EUR 6.60 million, which is significantly
higher than the profit in the prior quarter (Q3 2012: EUR 5.44 million) and
the prior year quarter (Q4 2011: EUR 4.24 million).

An extraordinarily good financial investment profit of EUR 14.95 million
made a particularly strong contribution to DAB Bank's success in 2012. The
net interest income remained relatively stable despite the further decline
in interest rate levels, declining only 7 percent to EUR 49.80 million.

Due to the insecurity caused by the continuing European national debt
crisis, customers acted with appreciably greater reserve in 2012 than in
the prior year, executing 4.20 million trades (2011: 5.08 million
transactions). This also led to a decline in net commission income by 13
percent to EUR 74.18 million. It was once again possible to reduce
administrative expenses by just under two million euros to the current EUR
111.35 million due to consistent cost discipline.

In financial year 2012, DAB Bank focused on qualitative growth, which was
particularly noticeable in the high net cash inflows from customers, making
a significant contribution to growth in customer assets. At December 31,
2012, DAB Bank thus managed deposits and securities accounts amounting to
EUR 28.38 billion - more than four billion euros more than at the end of
2011.

'In 2013, we want to increase the number of our customers. In order to do
so, we have broadened our offerings and brought a thoroughly updated range
of banking offers to the market, including a top-notch giro account,' said
Ernst Huber, DAB Bank Management Board Spokesman. 'In this way, DAB Bank is
establishing itself as the first bank for its customers - with a
comprehensive range of offers from the giro account to trading products. We
are also continuing to develop our portfolio of products and services in
the securities area.'

Since the beginning of February, DAB Bank has been offering its customers a
new giro account with free account management, attractive interest rates on
balances, and favorable credit line interest rates. In addition, fees were
reduced for trading in stocks, derivatives, and investment funds. DAX30
shares can be traded particularly simply and inexpensively on the new 'DAB
Best Price' trading desk. CFDs will soon also be available to DAB Bank
customers.

The figures presented herein have not yet been audited. DAB bank will
publish its annual report for financial year 2012 on March 19, 2013.

 
Key indicators and operating results of DAB bank (preliminary, unaudited
figures):

<pre>

Key indicators                                     2012      2011    Change
Customers                            Number     597,128   593,435     +0.6%
Securities accounts                  Number     615,288   620,922     -0.9%
Accounts                             Number     155,381   156,873     -1.0%
Trades executed                      Number    4,198,272 5,081,041   -17.4%
Trades per securities account,       Number        6.79      8.22    -17.4%
annualized                                                                 
Customer assets under management     EUR bn       28.38     24.26    +17.0%
thereof in investment funds          EUR bn       13.56     11.69    +16.0%
                                                                           
Operating results                                                          
Net financial income*                kEUR        65,265    53,299    +22.5%
Net commission income                kEUR        74,181    85,606    -13.3%
Administrative expenses              kEUR       111,346   113,088     -1.5%
Profit before taxes                  kEUR        28,032    25,728     +9.0%
Net profit after taxes               kEUR        18,125    17,772     +2.0%
Cost-income ratio                    in %          79.9      81.6     -2.1%
Earnings per share                   EUR           0.22      0.23     -4.3%


</pre>

<pre>

Key indicators                              Q4/2012     Q3/2012     Q4/2011
Customers                          Number   597,128     598,529     593,435
Securities accounts                Number   615,288     617,094     620,922
Accounts                           Number   155,381     153,165     156,873
Trades executed                    Number   973,395   1,001,826   1,138,039
Customer assets under management   EUR bn     28.38       27.42       24.26
thereof in investment funds        EUR bn     13.56       12.98       11.69
                                                                           
Operating results                                                          
Net financial income*              kEUR      18,567      14,023      12,054
Net commission income              kEUR      16,662      18,683      19,156
Administrative expenses            kEUR      28,317      27,490      27,233
Profit before taxes                kEUR       6,598       5,438       4,235
Net profit after taxes             kEUR       3,788       3,325       3,194
Earnings per share                 EUR         0.05        0.04        0.04


</pre>

* Net financial income = Net interest income before credit risk provisions
+ Trading/profit loss + Profit/loss from investments.

 


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Language:    English                                                
Company:     DAB bank AG                                            
             Landsberger Straße 300                                 
             80687 München                                          
             Germany                                                
Phone:       +49 (0)89 500 68 1696                                  
Fax:         +49 (0)89 500 68 669                                   
E-mail:      ir@dab.com                                             
Internet:    www.dab-bank.de                                        
ISIN:        DE0005072300                                           
WKN:         507230                                                 
Listed:      Regulierter Markt in Frankfurt (Prime Standard);       
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,  
             München, Stuttgart                                     
 
 
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