Baader Bank Reports Strong First Quarter in 2024

Baader Bank AG disclosed a significant improvement in its financial performance for the first quarter of 2024, with provisional and unaudited figures showcasing considerable growth. The bank achieved a pre-tax profit of EUR 9.9 million, a stark contrast to EUR 1.8 million in the same period last year. Total revenue reached EUR 62.2 million, marking a 32% increase year-on-year.

The uplift in revenue was supported by enhanced results across all main earnings segments—trading, commission, and interest income. Specifically, net trading income rose by approximately 24% to EUR 17.0 million, commission income by about 30% to EUR 30.2 million, and interest income nearly doubled to EUR 11.0 million.

Expenses also saw an uptick, mainly due to increased personnel costs arising from expanding workforce. Total expenses were up 15% at EUR 52.3 million, with personnel costs reaching EUR 21.2 million. Despite these increases, the bank's effective cost management led to prudent operational expenses, anchored by substantial investments in IT infrastructure aimed at enhancing platform functionalities.

The bank’s solid financial base, indicated by a robust capitalization and an equity increase to EUR 169.7 million, positions it well for ongoing investments and growth. This financial health is also reflected in a positive consolidated return on equity after tax at 10.4%.