Baader Bank Announces Positive 2023 Financial Outcomes and Provides 2024 Outlook

Baader Bank AG concluded the 2023 financial year with a robust performance, reporting earnings before taxes of EUR 4.0 million and a consolidated return on equity after taxes of 1.7%. During this period, the bank saw a remarkable 51% increase in the number of accounts managed, reaching 1,277,000, and a significant 79% rise in customer assets managed, totaling EUR 31.7 billion. For 2024, the Board of Directors anticipates earnings before taxes to slightly surpass the figures recorded in 2023.

The past year saw a downturn in trading volumes and market momentum, influencing the bank’s trading business revenues, which declined to EUR 37.4 million from EUR 53.2 million the previous year. However, the commission business witnessed a slight increase in earnings to EUR 79.5 million, and the interest business contributed substantially with EUR 35.8 million. Despite the challenging market environment, total revenue rose by 7% to EUR 170.8 million.

Operational expenses grew by 13% to EUR 166.9 million, attributed to investments in IT infrastructure and an upsurge in personnel expenses. The positive outcomes from Baader Bank Group’s subsidiaries significantly boosted the annual results. The bank also reported a solid capitalization, enhancing its capacity for future growth and investment. Looking ahead, Baader Bank is optimistic about slight increases in securities transactions and sales volumes for 2024, predicting a slight improvement in earnings before taxes and return on equity post-taxes.