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-DAB Bank posts lower Jan-Sep 2011 net profit.

BANKING AND CREDIT NEWS-October 25, 2011--DAB Bank posts lower Jan-Sep 2011 net profit(C)2011 M2 COMMUNICATIONS

25 October 2011 - German online broker DAB Bank (ETR:DRN) said today its net profit fell to EUR14.3m (USD19.9m) in the nine months through September 2011 from EUR16.5m a year earlier.

DAB Bank' pre-tax profit dropped to EUR21.5m from EUR23.99m.

However, net commission income expanded to EUR66.45m in January to September 2011 from EUR60.4m in the same period of 2010 with transaction numbers rising to 3.9m from 3.3m.

DAB Bank, owned by mortgage lender HypoVereinsbank, also reiterated its fully-ear pretax profit estimate of EUR28.6m, the same as in 2010, absent any abrupt adverse changes in the operating environment.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:Oct 25, 2011
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