ots Ad hoc-Service: Direkt Anlage Bank AG <DE0005072300> DAB Europe\047s biggest Discount Broker
Munich/Frankfurt (ots Ad hoc-Service) -
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In terms of total customer assets under management, DAB now ranks in first position. 1.97 million Euros in pre-tax earnings for the year 1999 and out standing figures in the first quarter of the year 2000: 220,000 securities portfolios and 1.4 million transactions executed.
Direkt Anlage Bank AG (DAB), Munich, became Europe's biggest discount broker according to total customer assets under management which amounted to 8.4 billion Euros end 1999 and continues to report soaring growth. According to preliminary figures, in the first quarter of the current fiscal year, the discount broker acquired 90,000 new customers (figures of March 22, 2000 projected to the end of the quarter). This means that the bank has gained three times as many new customers as it did in the 4th quarter of 1999. The number of securities portfolios under management rose by 69 per cent from end-1999 to end-March 2000, to reach 220,000. While the number of securities transactions executed by DAB in the 4th quarter amounted to 840,000, the figure in the 1st quarter came to as many as 1,400,000, representing an increase of 67 per cent. Likewise, DAB's Financial Community continues to grow in leaps and bounds, totaling some 170,000 members by end-March, more than double the number three months earlier. DAB, the pioneer among Germany's full-service discount brokers, announced these figures during its annual press conference in Frankfurt on Thursday.
The bank's robust growth already became evident during the last financial year. Pre-tax earnings as at December 31, 1999 amounted to 1.97 million. In the process, DAB exceeded its earnings threshold according to schedule, after major and expansion-oriented investments in its technical infrastructure and human resources had impacted adversely on the company's earnings in previous years.
DAB's Chairman or the Board, Matthias Kröner; "We already did our homework prior to the IPO; now we can go ahead and invest massively in expanding our market share."
Key financials:
1998 1999 4th 1st Growth
Year Year Quarter Quarter 4/99 -
1999 2000 * 1/00Net new accounts 29,000 51,032 29,000 90,000 210%
Executed securities
1,387,00 2,240,000 840,000 1,400,000 67%transactions 0
Transactions per
account / year
21.7 21.4 29 32 10%Portfolios under
management
78,500 130,000 130,000 220,000 69%Customer assets (in
billions of euros)
3.8 8.4 8.4 11.0 31%Members of DAB's
Community
81,000 170,000 110%Pre-tax earnings - 4.28 1.97 (in millions of euros)
* Figures of the 1st quarter of the year 2000 were projected from the position as at March 22, 2000 to the end of the quarter.
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