vorherige

16. September 2015, Berlin

  • Strong operational half-year profits of 2.9 million Euro due to good development of all business segments
  • Managed client assets in private banking segment (fee-based consulting) increased again
  • 'Robo-Advisor' quirion on course for growth
  • quirin bank continues to be profitable, even without extraordinary, one-time items

With 2.9 million Euro (previous year: 1 million Euro), quirin bank almost tripled its result after tax as of 30 June 2015 compared with the same period in the previous year. Both - private banking (fee-based consulting) and investment banking - ("entrepreneur's bank"), which offers an extensive range of product and service expertise to medium-sized customers when procuring capital, have contributed to the good result development. Before taxes, the return on equity at mid-year (effective date 30th June 2015) increased to 7.9 per cent.

CEO Karl Matthäus Schmidt: "The figures clearly show that the growth course of quirin bank AG, as the leading fee-based consulting bank in Germany, is profitable."

In private banking (fee-based consulting including the online bank quirion), it was possible to increase the managed client asset base in the first half of the year by 0.2 billion Euro to a total of 2.7 billion Euro. In addition, in the private customer business of " Berliner Effektenbank" branch (also part of the Private Banking business), a volume of around 0.5 billion Euro was under management for around 440 customers as of 30th June 2015. As already contractually agreed in November 2014, the Berliner Effektenbank branch will pass over to Tradegate AG Wertpapierhandelsbank at the beginning of 2016.
Altogether, in private banking, a total of around 9,600 customers were being serviced on the report day with assets amounting to around 3.2 billion Euro. For fee-based consulting, the focus in the first half of the year lay on continuing the switchover in asset management of the former multi-asset strategies to the new investment concept 'Markt - Meinung - Wissen' (MMW, 'Market - Opinion - Knowledge'). This process was completed as planned by 30th June 2015.

Under the 'quirion' brand, the bank offers a new form of 'robo-advice' as standardised asset management. Following the market launch in November 2013, the quirion service was systematically improved and expanded. The online asset manager creates an individual and cost-effective portfolio on the basis of a risk profile for the customer. This is continuously monitored and adapted, where the market situation requires this. Karl Matthäus Schmidt: "Besides the growing German market, we want to open and develop this service for other European countries."
On the report day, 500 customers had already been acquired via the online platform with a volume of 20 million Euro. The number of new customers per month has doubled in 2015.

The entrepreneur's bank business area, which incorporates the investment bank business, is also continuing its strategic growth course. The aim is to further build and broaden a sustainable placement power in the field of Institutional Sales through the enlarged investor basis in the target markets. The entrepreneur's bank thus offers customers from the SME sector access to the financing of projects as an alternative to traditional bank credit.

quirin bank also sold its minority shareholding in Avaloq Sourcing Deutschland AG to the Avaloq Group at the beginning of September. The transaction shall be completed by 22nd September 2015. The former business area Business Process Outsourcing (BPO) will thus be completely transferred to the leading international provider of banking software.

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