-Comdirect Bank Q1 profit grows 16% to EUR18m

Internet Business News
04-29-2011
-Comdirect Bank Q1 profit grows 16% to EUR18m

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

29 April 2011 - German online lender and brokerage Comdirect Bank AG (ETR:COM) said on Thursday its first-quarter 2011 net profit gained 16% in annual terms to EUR18.2m (USD26.9m).
Profit before taxes rose to EUR24.9m in January to March 2011 from EUR21.2m in the same period of 2010.

Net interest income after provisions expanded to EUR33.1m from EUR23.9m, while net commission income added 29% on an yearly basis to EUR50.1m.

Assets under management rose by EUR4.9bn in annual terms to EUR42.5bn at 31 March 2011 but were flat from the prior quarter.

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