Baader Bank AG gets off to a good start in 2012

At EUR 8.9 million, Baader Bank more than doubled its net profit after tax in the first quarter of the current year compared to the same quarter in the previous year (EUR 4.2 million). The main reason for this increase is the price rebound in the bond market. The bank used the positive environment in this segment to optimise its portfolio and, in particular, to make significant reductions in its holdings of country bonds from so-called GIIPS countries.

Moreover, performance in the capital markets in the first quarter was dominated by investor uncertainty, which led to a considerable decline in trading activities in all market segments. Order book turnover on the Frankfurt Stock Exchange thus declined 27.6% compared to the previous quarter last year. This had an especially negative effect on the Bank's trading income, which fell 25.3% compared to the same period in 2011.

While net interest income and net fee and commission income remained steady at previous year levels, administrative expenses declined for the first time in quite a while. This was made possible primarily due to the Bank's flexible compensation model and its rigorous cost controls.

When taking into account the fund for general banking risks, the Group has equity totalling EUR 143.6 million as of 31 March 2012 (31 December 2011: EUR 135.1 million). The Group employed a total of 417 people at the end of the quarter (31 December 2011: 410).

The Executive Board

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Published by:
Baader Bank Aktiengesellschaft
Dr. Hans-Wilhelm Eckert
Head of Corporate Communications
Weihenstephaner Str. 4
85716 Unterschleißheim
Tel: +49 (0) 89 5150 1881
Fax +49 0 89 5150 29 1880
hans-wilhelm.eckert@baaderbank.de
www.baaderbank.de