comdirect bank AG: Exceptionally high Q1 result expected

Quickborn, 9 April 2020. comdirect bank AG* expects to generate a pre-tax profit of more than €75 million in the first quarter of 2020 (prior year: €12.5 million). This would be significantly ahead of current market expectations. The strong increase in the result is due to a significant increase in net commission income due to the strong market volatility in the quarter; meanwhile expenses remained largely stable.

The impact of the current economic situation on the economy overall as well as on the company are currently not quantifiable. Therefore, our last published forecast for the full year 2020 of €100 to 120 million in pre-tax profit remains unchanged at this point in time.

Contact:
Simone Glass,
Head of Investor Relations
+49 4106 704 1966, simone.glass@comdirect.de