April 28, 2020 / 5:39 AM / 3 months ago

BRIEF-Comdirect Bank Q1 Total Income Up At EUR 150.9 Mln

April 28 (Reuters) - COMDIRECT BANK AG:

* PROFIT IN Q1 2020: EUR 77.9M BEFORE TAXES

* Q1 NET COMMISSION INCOME, WHICH MORE THAN DOUBLED AS AGAINST PREVIOUS YEAR TO EUR 110.1M (EUR 50.1M)

* FORECAST FOR FINANCIAL YEAR 2020 IS INCREASED

* INCREASES ITS FORECAST FOR FINANCIAL YEAR 2020 AND NOW EXPECTS A PRE-TAX PROFIT OF EUR 130-150M.

* BANK EXPECTS TO EXCEED LAST PUBLISHED FORECAST FOR FINANCIAL YEAR 2020 (PRE-TAX PROFIT OF EUR 100-120M)

* NOT TO DISTRIBUTE DIVIDENDS FOR 2019 AND 2020 UNTIL AT LEAST 1 OCTOBER 2020 OWING TO UNCERTAINTY AS A RESULT OF CORONAVIRUS PANDEMIC

* COMDIRECT'S TOTAL INCOME INCREASED BY 73% TO EUR 150.9M IN Q1 OF 2020 (PREVIOUS YEAR: EUR 87.3M) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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