EQS-News: Baader Bank Bank reports solid Group earnings before tax in Q1

Baader Bank Bank reports solid Group earnings before tax in Q1

• Group earnings before tax (EBT) totalled EUR 17.9 million in the first quarter of 2026.
• Total expenses decreased by 5 % compared to the same quarter of the previous year.
• Baader Bank's balance sheet total increased to EUR 3.7 billion during the reporting period.

Baader Bank achieved Group earnings before tax of EUR 17.9 million in the first quarter of 2026 (Q1 2025: 20.8 million). In line with this, consolidated earnings after tax for the first quarter of the current fiscal year amounted to EUR 12.5 million (Q1 2025: EUR 13.0 million). Earnings per share after tax stand at EUR 0.26 (Q1 2025: EUR 0.27) and return on equity after tax fell to 21.4 % in the first quarter compared to the reference quarter (Q1 2025: 27.5 %).

The past quarter has been marked by geopolitical issues – in particular the conflict in Iran – all of which have an impact on investor behaviour and lead to increased trading activities. Accordingly, market volatility on the stock exchanges continued to develop at a high level in the first quarter of 2026. The resulting effects on Baader Bank's capital market and securities trading business support the fundamentally positive performance seen in the first quarter of 2026. 

The acquisition of market shares, the high volumes on global stock exchanges and the increase in order numbers, particularly on the gettex trading platform – especially in the context of the securities trading business for private investors—are all reasons for the overwhelmingly positive result on earnings from the trading business in the first quarter, which increased to EUR 34.8 million compared to the reference quarter (Q1 2025: EUR 33.3 million). The volume of cryptocurrency trading in the context of the B2B2C cooperation business decreased in this quarter by approximately 40% compared to the same quarter of the previous year.

Earnings from the commission business amounted to EUR 29.2 million (Q1 2025: EUR 33.1 million) and thus recorded a decrease of 12%. Earnings from the interest business dropped significantly compared to the reference quarter, to EUR 8.5 million (Q1 2025: EUR 11.4 million), which is mainly due to a lower interest rate level and also a lower deposit volume. At EUR 1.8 million, sales revenue was also low (Q1 2025: EUR 3.1 million). Accordingly, total revenue for the first quarter of the current fiscal year amounted to EUR 76.4 million (Q1 2025: EUR 82.3 million) and thus fell by 7%.

Total expenses were also lower in the first quarter of 2026, falling by 5% to EUR 58.4 million (Q1 2025: EUR 61.5 million). The main driver for the decline is the lower level of pension expenses in the amount of EUR 2.8 million (Q1 2025: EUR 7.0 million). This includes the planned transfers to the fund for general banking risks¹ amounting to EUR 2.5 million (Q1 2025: EUR 2.5 million). Personnel expenses rose slightly to EUR 28.0 million (Q1 2025: EUR 26.9 million). As at 31/03/2026, the Group's total number of employees (in full-time equivalents) amounted to 688 (31/12/2025: 678). Operating expenses remain unchanged and amount to EUR 27.7 million (Q1 2025: EUR 27.7 million).

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.

Expansion of the trading offering also in the context of B2B2C partnerships

In the first quarter of 2026, the number of B2B2C clients increased again by around 100,000 and the number of accounts by more than 120,000. This is a development that clearly shows the ongoing interest in securities investment. In the period under review, managed customer assets increased by around EUR 7.5 billion to a total of EUR 40.7 billion, driven in particular by the increase in securities accounts, and illustrates the strong performance of Baader Bank's cooperation partner business.

As part of its B2B2C cooperation partnerships, Baader Bank is also focusing on expanding its product portfolio in order to offer both institutional and private customers a range of innovative and market-driven solutions, such as 24/7 crypto trading, bond trading, the use of interest and currency accounts, and the extension of trading hours, all with a view to increasing market share in the trading business. Examples include the recent extension of trading hours on Saturdays from 2pm to 7pm in over-the-counter trading and, in the long-term, provision of a retirement pension account based on political specifications.

Over the course of the financial year, Baader Bank continued to focus on the marketing initiative for its own 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 was key. This also included recent offerings such as weekend trading and the Baader Trading Days event for private investors, which will be held for the second time on the 17th and 18th October 2026 in Munich.

In the capital market business, Baader Bank saw through a total of three transactions in the first quarter. These included the IPOs of ASTA Energy Solutions (volume: EUR 190 million) in January in the Prime Standard segment of the Frankfurt Stock Exchange and the Prague-based arms and industrial technology company Czechoslovak Group (volume: EUR 2.8 billion), which also took place in January and was one of the largest IPOs of the year in Europe. In March, Baader Bank supported a capital increase (volume: CAD 10 million) for Super Copper.

Equity base for further growth

Baader Bank's balance sheet total increased to EUR 3.7 billion during the reporting period (31/12/2025: EUR 3.2 billion), and equity increased to EUR 245.4 million (31/12/2025: EUR 232.9 million). The Group's total capital ratio for the past quarter as at 31/03/2026 was 21.4%.

With this solid equity base, Baader Bank is in a strong position to invest strategically in further growth and to fulfil regulatory capital requirements.

Overview of key figures 2026 

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
www.baaderbank.de
www.baadertrading.de
 

Next dates:

11/05/2026  Equity Forum, Frankfurt

28/05/2026  Publication of the 2025 Annual Report

28/05/2026  Invitation to the Annual General Meeting

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.