Gontard & MetallBank AG i.I.
Ad hoc-Service: Gontard & MetallBank AG engli
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Notice in accordance with § 15 German WpHG (German Securities Law)
Gontard & MetallBank AG, Frankfurt am Main
– Gontard & MetallBank reports record quarter
– Realised earnings: DM 78.5 million
– Unrealised earnings: DM 58 million
– Profit forecast increased to DM 110 million
Frankfurt am Main, 4th May 2000 – Gontard & MetallBank AG, the Frankfurt-based
investment bank, reported a record second quarter of its current 1999/2000
fiscal year. Profit before taxes reached DM 78.5 million (Euro 40.1 million).
Compared with the equivalent period a year ago, net income increased by 44% or
DM 10.4 million to DM 34.1 million (Euro 17.4 million). Diluted earnings (DVFA)
per share were DM 1.44 (Euro 0.74). Net commission income was DM 50.6 million
(Euro 25.8 million). Net interest income for the second quarter was DM 17.3
million (Euro 8.8 million). The Cost Income Ratio of 34.4% was considerably
better than the sector average. As a result of the continuing positive trend
of business, the bank has increased its profit forecast for the current fiscal
year from DM 98.0 million to DM 110 million (Euro 56.2 million).
Due to the expansion of its investment portfolio in quoted companies, unrealised
reserves increased by DM 58.0 million (Euro 29.7 million) to DM 119 million
(Euro 60.8 million).
The reasons for this substantial profit growth lie in the very positive
development of the Investment Banking business unit. At the same time, the Asset
Management as well as the Private- & Corporate Banking divisions delivered a
similarly dynamic performance.
The bank has used this extraordinarily good second quarter to set aside DM 15
million as provisions for losses on loans and advances as well as general
industry risks.
Contact person:
Gontard & MetallBank AG
Public Relations/Investor Relations
Dr. Stefanie Knetsch-Hack
Telefon +49 (69) 71908-203
E-Mail: info@gmag.de
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