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DGAP-News: DAB Bank generated strong operating growth in financial year 2013

February 25, 2014

DGAP-News: DAB Bank AG / Key word(s): Final Results/Preliminary Results DAB Bank generated strong operating growth in financial year 2013 26.02.2014 / 07:30 --------------------------------------------------------------------- DAB Bank generated strong operating growth in financial year 2013 Substantial increases in customer assets and in customers, bank accounts and trades executed / Profit before taxes lower at EUR19.22 million, due to lower net interest income and profit from investments Munich, February 26, 2014. The DAB Bank Group, Munich, generated strong operating growth in 2013. Customer assets held in custody rose by more than EUR4 billion to EUR32.49 billion, thanks in particular to high net fund inflows. Motivated not least of all by rising stock markets, DAB Bank's customers traded much more frequently in 2013 than in 2012, placing approximately 4.96 million trade orders, reflecting an increase of slightly more than 18% compared to 2012. The total number of customers rose by nearly 24,000 to 620,897, thanks in part to the completely redesigned checking account that was introduced in February. The number of checking accounts carried for customers (which DAB Bank had previously offered only as a supplementary product) grew significantly to 36,754 at the end of 2013. Also as a result of the considerably higher trading activity of our customers, the net commission income of EUR85.95 million was almost EUR12 million higher than the corresponding figure for 2012. "The expansion of our business strategy to include a wide range of banking products has begun to bear fruit. The growth observed in key operational indicators in 2013 was the highest in years," said Ernst Huber, Management Board Spokesman of DAB Bank. "But the other new products and services we introduced in the area of trading - including for example our new stock trading platform "DAB Best Price," the optimized offering of investment funds and CFD trading - were very well received by our customers. Also in this, our anniversary year, our customers can look forward to many new highlights in products and services." Having been founded in 1994 as the first direct broker in Germany, DAB Bank will celebrate its 20th anniversary in May. Mainly as a result of the historically low level of interest rates, DAB Bank's net interest income of EUR38.64 million was considerably lower, by 22%, than the EUR49.80 million generated in 2012. Whereas the trading profit and profit from investment combined had reached a record level of EUR15.47 million in 2012, due to the outstanding opportunities in the markets, these items amounted to only EUR6.38 million in 2013. Although DAB Bank lowered its administrative expenses by EUR2.5 million to EUR108.73 million in 2013, thanks to rigorous cost discipline, the profit before taxes fell by around a third to EUR19.22 million (2012: EUR28.03 million), due to the lower net interest income and profit from investments in 2013. The annual shareholders' meeting to be held on May 15, 2014 will be asked to approve a dividend payout equal to the full distributable profit, corresponding to a dividend of 13 cents per share, which will be paid once again without deduction of the investment income tax. The figures stated herein are still preliminary. DAB Bank will publish its Annual Report 2013 containing the final results on March 20, 2014. Key indicators and operating results of DAB Bank (audited, but not yet officially adopted figures): Key indicators 2013 2012 Change Customers No. 620,897 597,128 +4.0% Securities accounts No. 617,070 615,288 +0.3% Bank accounts No. 204,721 155,381 +31.8% Trades executed No. 4,964,739 4,198,272 +18.3% Trades per securities account, No. 8.06 6.79 +18.7% annualized Customer assets held in custody EUR bn 32.49 28.38 +14.5% thereof in investment funds EUR bn 15.45 13.56 +13.9% Operating results Net interest income kEUR 38,640 49,796 -22.4% Trading profit and profit from kEUR 6,382 15,469 -58.7% investments Net commission income kEUR 85,953 74,181 +15.9% Administrative expenses kEUR 108,733 111,346 -2.3% Earnings before taxes kEUR 19,217 28,032 -31.4% Net profit after taxes kEUR 12,271 18,125 -32.3% Cost-income ratio in % 85.0 79.9 +6.4% Earnings per share EUR 0.13 0.22 -40.1% Key indicators Q4/2013 Q3/2013 Q4/2012 Customers No. 620,897 615,178 597,128 Securities accounts No. 617,070 616,197 615,288 Bank accounts No. 204,721 192,528 155,381 Trades executed No. 1,247,032 1,211,734 973,395 Customer assets held in custody EUR bn 32,49 31,08 28,38 thereof in investment funds EUR bn 15,45 14,71 13,56 Operating results Net interest income kEUR 11,495 10,177 11,640 Trading profit and profit from kEUR -317 2,052 6,927 investments Net commission income kEUR 23,346 19,827 16,662 Administrative expenses kEUR 28,526 25,974 28,317 Earnings before taxes kEUR 4,427 5,289 6,598 Net profit after taxes kEUR 2,930 2,858 3,788 Earnings per share EUR 0.03 0.03 0.05 If you have queries, please contact Dr. JÜrgen Eikenbusch, DAB Bank AG, communications@dab.com End of Corporate News --------------------------------------------------------------------- 26.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 End of News DGAP News-Service --------------------------------------------------------------------- 254162 26.02.2014


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Source: DGAP Corporate News


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