EQS-News: Baader Bank doubles Group's nine-month earnings before tax

Baader Bank doubles Group's nine-month earnings before tax

All data is based on provisional and unaudited consolidated figures.

• Baader Bank doubles Group earnings before tax for first nine months of current financial year compared to 9M 2024 with result of EUR 57.1 million while generating a consolidated return on equity after tax of 27.6 %.
• Total revenue in the nine-month period rose by 30% year on year to reach EUR 228.4 million, with the increase driven primarily by improved trading business earnings.
• 23 % growth in number of B2B2C securities accounts in the nine-month period compared to end of calendar year 2024.

In the first nine months of the current financial year, Baader Bank increased its Group earnings before tax to EUR 57.1 million (9M 2024: EUR 28.5 million). Consolidated earnings rose to EUR 39.2 million (9M 2024: EUR 15.4 million) and earnings per share after tax to EUR 0.80 (9M 2024: EUR 0.32).

The positive performance seen in H1 continued into Q3, as stock markets recorded a significant upward trend during the reporting period in particular. Buoyed by the US Federal Reserve's interest rate cut, technology and financial stocks gained ground, with further impetus coming from momentum in artificial intelligence, increasing corporate investment and high interest in asset classes such as gold, silver and bitcoin. Such factors encouraged high trading volumes on the stock exchanges and trading venues relevant to Baader Bank.

The high volumes on global markets together with an increase in market share and higher order numbers, especially on the gettex trading platform, had a positive impact on earnings from the trading business, which increased significantly compared to the first nine months of 2024 to EUR 96.1 million (9M 2024: EUR 47.0 million).

Earnings from the commission business recorded a slight increase of 7 % to EUR 84.5 million (9M 2024: EUR 79.1 million), with earnings from the interest business, at EUR 31.6 million, making a lower contribution to earnings (9M 2024: EUR 37.2 million) mainly due to a decline in interest rates and constant deposit volumes. At EUR 9.1 million, sales revenue increased slightly (9M 2024: EUR 8.1 million).

The continued improvement in earnings can be seen in the total earnings of EUR 228.4 million (9M 2024: EUR 176.0 million). By contrast, total expenses in the first nine months of 2025 increased disproportionately by 16% to EUR 171.3 million (9M 2024: EUR 147.5 million). Personnel expenses rose to EUR 82.5 million (9M 2024: EUR 65.6 million), primarily due to higher variable remuneration components. As at 30/09/2025, the Group's total number of employees (in full-time equivalents) amounted to 660 (9M 2024: 606).

Operating expenditure rose to EUR 77.1 million (9M 2024: EUR 70.8 million). At EUR 11.7 million, pension expenses remained almost unchanged (9M 2024: EUR 11.1 million) and include the planned transfers to the fund of EUR 6.5 million for general banking risks¹ (9M 2024: EUR 10.0 million).

Both the Swiss Baader Helvea Group and the Selan Group contributed positively to Baader Bank's 9M results.

¹ The transfer to the fund for general banking risks also takes into account the statutory transfer to the fund for general banking risks at the end of the year in accordance with Section 340e HGB.

Increase in number of B2B2C securities accounts and focus on trading offering

Baader Bank's account and securities account business saw growth in the nine-month period as part of the ongoing diversification of the B2B2C business. With more than 200,000 new accounts in the first nine months of 2025, the number of securities accounts managed by Baader Bank rose to approximately 1,920,000 accounts (31/12/2024: 1,708,000 securities accounts). Managed customer assets, consisting of securities account volumes and customer deposits, rose to EUR 56 billion (31/12/2024: EUR 46.7 billion). The number of securities accounts recently increased significantly and deposit volumes are also seeing constant growth. While the demigration of Scalable securities accounts is scheduled for Q4, new B2B partnerships (Joe Broker and MyMarkets) and product expansions in Baader Bank's cooperation business are currently being developed or already in the implementation phase. Growth with existing partners is also progressing steadily.

In the B2B2C cooperation business, the trading business with cryptocurrencies almost doubled in volume in the nine-month period compared to the first nine months of the previous year.

Over the course of the financial year, Baader Bank is focusing on the marketing initiative for its trading offering under the brand name Baader Trading. In addition to increasing brand awareness and establishing digital channels—such as the pricing website www.baadertrading.de in particular—continuing to optimise the trading offering in collaboration with the Bank's numerous trading partners is key. This also includes recent offerings such as weekend trading and the Baader Trading Days event for private investors.

Solid equity base

Baader Bank's total assets fell in the reporting period to EUR 4.5 billion (31/12/2024: EUR 4.8 billion). This was accompanied by a nearly constant development in deposit volumes over the first nine months of the financial year.

Equity rose to EUR 221.3 million (31/12/2024: EUR 189.4 million), as did the return on equity after tax at 27.6 %, a significant increase on the previous year's figure (9M 2024: 12.4 %). The calculated regulatory total capital ratio for the Baader Bank Group as of September 30, 2025, is 20.86%. In addition, the total capital ratio in the relevant institution group as of September 30, 2025, is 23.29%. This includes planned retention measures for 2025 to strengthen the capital base, which were able to more than compensate for the increased regulatory requirements resulting from the implementation of CRR III.

With this continued solid capital base, Baader Bank has sufficient capacity to invest specifically in further growth.

 

Overview of key figures 9M 2025 

 provisional and unaudited consolidated figures

		Nine month period (01/01/-30/09/)
in € mn		2025		2024		Delta
Result from interest business		31.6		37.2		-5.6
Result from commission business		84.5		79.1		5.4
Result from trading activities		96.1		47.0		49.1
Revenue		9.1		8.1		1.0
Other income		7.1		4.5		2.6
Income		228.4		176.0		52.5
Personnel expenses		82.5		65.6		16.9
Other operating expenses		77.1		70.8		6.3
Risk provision		11.7		11.1		0.6
Expenses		171.3		147.5		23.8
Earnings before tax (EBT)		57.1		28.5		28.6
Taxes		18.1		13.0		5.0
Minorities		-0.2		0.0		-0.2
Group results		39.2		15.4		23.8
Earnings per share in EUR		0.80		0.32		0.49
Return on equity after tax in %		27.6		12.4		15.2

 

 

		as of reporting date
		30/09/2025		31/12/2024		Delta
Total assets in € mn		4,463		4,825		-362
Equity capital in € mn		221.3		189.4		31,9
Total capital ratio in %		23.29		22.21		-

 

 

 

For further information and media inquiries:

 

Marlene Constanze Hartz

Senior Manager

Group Communication

 

T +49 89 5150 1044

marlene.hartz@baaderbank.de 

 

Baader Bank AG

Weihenstephaner Strasse 4

85716 Unterschleissheim, Germany

https://www.baaderbank.de

www.baadertrading.de

 

Next dates:

7-8/11/2025  World of Trading Frankfurt

22/11/2025  Börsentag Nürnberg

24/11/2025  ‚Deutsches Eigenkapital Forum‘

 

 

About Baader Bank AG:

Baader Bank is one of the leading European partners for investment and banking services. Trading and banking are combined using a single powerful platform that offers a unique set-up and optimum access to the capital market using a secure, automated and scalable approach. As a family-run full-service bank with its headquarters in Unter-schleissheim near Munich, Baader Bank AG employs around 650 staff members and operates in Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.
The Baader Trading brand unites the trading activities and services of Baader Bank.