Bloomberg News

DAB Bank Third-Quarter Profit Climbs 15% on Higher Fee Income

October 25, 2011

Oct. 25 (Bloomberg) -- DAB Bank AG, the German online broker controlled by Italy’s UniCredit SpA, said third-quarter profit increased 15 percent on higher fee income.

Net income rose to 4.25 million euros ($5.9 million), or six cents a share, from 3.69 million euros, or five cents, a year earlier, the company said today in an e-mailed statement. DAB Bank reiterated a forecast for 2011 pretax profit to match last year’s 28.57 million euros.

Commission income climbed 30 percent to 22.9 million euros in the quarter, Munich-based DAB Bank said.

--Editors: Peter Eichenbaum, William Ahearn

To contact the reporter on this story: Oliver Suess in Munich at osuess@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net Edward Evans at eevans3@bloomberg.net


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