DAB BANK AG 
By
Profit before taxes of €25.73 million in financial year
2011 / Proposed dividend of 22 cents per share,
corresponding to full distribution of distributable
profit / Trades executed for customers up 13% from
2010
Munich, February 28, 2012.
The DAB bank Group, Munich, generated a profit before
taxes of €25.73 million in financial year 2011. The
decrease from the prior-year figure (2010: €28.70
million) resulted in particular from impairment losses
charged against the Greek bonds held in the treasury
portfolio of the Austrian subsidiary direktanlage.at.
The annual shareholders' meeting to be held on May 24,
2012 will be asked to approve a full distribution of the
consolidated distributable profit, which would correspond
to a dividend of 22 cents per share, to be paid out on a
tax-exempt basis yet again. Last year, the dividend was
20 cents per share.
"The shareholders of DAB bank can look forward to a 10%
increase in the tax-free dividend and a dividend yield of
6.6%," said Markus Gunter, Management Board Speaker of
DAB bank. "We are optimistic about our future
performance. We expect to generate a higher profit in
financial year 2012."
The DAB bank Group executed 5.08 million trades for its
customers in financial year 2011, reflecting a 13%
increase over the corresponding prior-year figure. In
Germany alone, the bank executed 20% more trades for its
customers. Factors contributing this increase included
not only the volatile stock markets, but also the
numerous new products and services offered to customers
of DAB bank in 2011. Thanks to the heightened trading
activity of the bank's customers, the net commission
income of €85.61 million was €3 million higher than the
corresponding prior-year figure.
By contrast, the net commission income was lower than the
prior-year figure, as expected. Net interest income was
stable, having declined only slightly from €55.69 million
to €53.22 million. The trading profit, which had been
favored in 2010 by catch-up effects following the financial
crisis, came to €0.63 million in 2011 (2010: €13.72
million).
Despite further investments in new products and services
and the higher number of trades executed for customers, DAB
bank lowered its administrative expenses from €115.28
million in 2010 to €113.09 million in 2011. DAB bank will
continue to place a high priority on active cost management
in 2012.
In its continuing quest for qualitative growth, DAB bank is
targeting investors and traders specifically in its new
customer acquisition campaigns. The DAB bank Group carried
620,922 securities accounts for its customers in 2011,
representing an increase of approximately 5,000 over the
prior-year figure. At €24.26 billion, customer assets held
in custody were only 7% less than the corresponding
prior-year figure, and therefore declined by a much smaller
percentage than the most important stock indexes, thanks in
part to net inflows.
As part of its program for the future, "DAB one," DAB bank
introduced numerous new products and services for the
benefit of its investors and traders in 2011. By using the
futures margin trading function, for example, traders can
move large amounts on the EUREX with only a small amount of
capital committed. And order functions like the trailing
stop loss or combination orders make trading even more
convenient for them. Thanks to the new "Star Partner ETF"
program, investors can purchase ETFs at even more favorable
terms. And since the beginning of 2012, customers of DAB
bank can purchase savings-plan products such as "Flex
Savings," "Dream Savings" and "Driver's License Savings,"
thanks to a cooperation agreement between the bank and the
German motorists' club ADAC.
The figures presented herein have not yet been audited. DAB
bank will publish its annual report for financial year 2011
on March 20, 2012.
All figures have been adjusted for the figures of SRQ
FinanzPartner AG, which has been classified as discontinued
operations.
* Net financial income = Net interest income before credit
risk provisions + Trading/profit loss + Profit/loss
from
investments.
