Consors Discount-Broker AG
ConSors Discount-Broker english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Consors: Fund business strongly expanded / First successes of ‘Fit for Future’
Within the Consors Group, assets under custody in the second quarter of 2001
increased by euro 350 million to euro 8.5 billion compared with the first
quarter 2001, despite the negative stock market environment. The accounts volume
rose euro 196 million to euro 5.9 billion as of June 30, 2001. Cash deposits
grew by euro 23 million to euro 1.6 billion. Fund development was particularly
pleasing with an increase of 15%, i.e. euro 133 million, and exceeded euro 1.0
billion. In this connection the number of fund savings schemes grew by 15,000 to
over 116,000 in Germany.
Between April 1 and June 30, 2001, 19,100 new customers joined Consors. During
the same period of time, 19,100 accounts were opened and 9,600 closed, so that
the number of accounts managed by the Group rose to almost 550,000 in total. The
number of accounts at Consors AG went up by 6,600 to 487,000. Consors Group
increased the number of accounts in its European subsidiaries by 2,900 to more
than 62,000.
Not only the 50% decline in the Nemax 50 index to 1,440 points in the first
semester of 2001 reflected the still slackening stock markets, but also the
clear drop in trading on all German exchanges to a new year’s low. As a result
of this trend, the number of trades was reduced by 28%, as compared with the
first quarter 2001, to 1.8 million trades across the entire Group of companies.
In Germany, 1.5 million trades were routed, and 300,000 trades executed on the
stock markets abroad. The number of trades in the Consors Group totaled 4.2
million in the first half of 2001, with 83% of all trades recorded in Germany.
The ‘Fit for Future’ program also developed excellently. In addition to a
double-digit million project cost savings nearly 100 jobs in Germany were shed.
Consors thereby exceeded by far the announced target of 15% cost savings
compared with the 2001 budget. Extension of the program to the European
subsidiaries has started.
end of ad hoc announcement (c) DGAP 10.07.2001
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WKN: 542700; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
100756 Jul 01
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