25 Apr 2018
- Total net result of EUR 2.7 million
- Operating income of EUR 25.0 million
- Operating expenses of EUR 21.6 million
- Capital ratio and liquidity coverage ratio remain strong
In the first quarter, our operating income was EUR 25.0 million (Q4 2017: EUR 24.0 million) and our operating expenses EUR 21.6 million (Q4 2017: EUR 21.3 million). The total net result is EUR 2.7 million (Q4 2017: EUR 2.2 million). In line with expectations, the operating income is affected by the consolidation within the institutional client segment. In the first quarter, annual regulatory levies of EUR 1.3 million and additional investments in innovation impacted the cost level. Therefore, profitability remains stable in comparison with recent quarters. Our outlook for 2018 remains unchanged.
|In EUR||Q1 2018||Q4 2017||Q3 2017||Q2 2017||Q1 2017|
* Including Restructuring provision (Q4 2017: 1.9 million)
IFRS 9 is applicable as of 1 January 2018. As mentioned in our annual report, the impact on our balance sheet, income statement and equity is limited.
We are making progress on the execution of our innovation programme. Today, at our Annual General Meeting of Shareholders we are piloting our first product based on the blockchain technology. Furthermore, we have strengthened our collaboration with SimCorp for the development of an integrated investment and administration platform. This partnership enables us to respond even better to the demand for our sourcing proposition to institutional investors.