DAB bank AG

ots Ad hoc-Service: Direkt Anlage Bank AG DAB Y2K results - Most successful year since inception

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Munich (ots Ad hoc-Service) - With pre-tax profit of 13.7 mn Euro up 594% year on year and revenues of 190.2 mn Euro an increase of 149% year on year DAB AG posts the best result in its history. Including consolidation of DAB Switzerland and Business Channel the DAB group achieved pre-tax profits of 5.3 mn. Direkt Anlage Bank AG (DAB), grew stronger than ever during the year 2000. Pre-tax profits increased 594% to 13.7 mn Euro (1999: 2.0 mn Euro), profits ex-marketing were at 46.3 mn Euro (1999: 7,4 mn Euro). Earnings per share amounted to 6.6 cent. Revenues were up 149% to 190.2 mn of which gross commission income was at 139.1 mn, net interest income was at 40.8 mn and other income at 10.3 mn Euro. Total expenses, excluding 32.6 mn Euro marketing, summed up to 143.9 mn. DAB group pre-tax profits added up to 5.3 mn Euro. This includes startup costs for DAB Switzerland amounting to 5.2 mn Euro and losses of Business Channel GmbH of 3.2 mn Euro. After tax net profits for the DAB group were minus 3.9 mn Euro which translates to minus 6.8 cent earnings per share. The 2000 profit and loss does not include Self Trade SA, Paris. The group consolidation including Self Trade will take place from the 1st quarter 2001 onwards. The Calculation of the 15 year goodwill of the acquition of Self Trade is based on an amount of 281.2 mn Euro and results in annualy 18.7 mn Euro. Preliminary 1st Quarter 2001 numbers DAB group including Self Trade won an estimated 45,000 net new accounts in Europe in the 1st quarter 2001 (estimates on the basis of March 26th, 2001 numbers). Total number of securities accounts now add up to 463,800. This shows that DAB is the leader in Europe: operating in 6 countries and with 17% of the existing accounts and 42% of the quarterly new accounts coming from outside of Germany. Executed transactions reached an estimated 2.0 mn. The main focus of the DAB bank group in 2001 will be on the european integration as well as the rollout of the asset gathering strategy. End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: DAB bank AG, übermittelt durch news aktuell

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