comdirect acquires American Express Bank customer portfolio

comdirect acquires American Express Bank customer portfolio

> comdirect acquires American
Express Bank customer portfolio
comdirect bank
Quickborn, 20 October 2005
Dr. Andre Carls, CEO
Karin Katerbau, CFO
> Acquisition of American Express Bank customer portfolio
> Contract with American Express Bank GmbH signed
19 October 2005
Contract
> Expected closing date 1 January 2006: transfer of
around 45,000 customers
> Deal flanked by expansion of sales cooperation between
comdirect bank and American Express Bank
> Total purchase price approx. €13m
Purchase
price
> First part payment of 70% on closing date
> Second part payment after a year; amount depends on
customer turnover
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> American Express Bank customer portfolio offers great potential
Brokerage
Banking
Advice
Approx. 10,000 fund custody accounts
Approx. 18,000 foreign currency investment accounts
Approx. 38,000 call-money accounts
Approx. 1,500 current accounts
Approx. 45,000 customers with average assets of €11,000
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> Customers and products: comdirect and American Express Bank
American Express Bank
Customers –
> higher earners
> online users
> self-determined
Target group –
the modern investor
> investment-oriented
Products –
Offering –
> custody accounts, call-money
> Custody accounts, call-money
accounts and current accounts
> foreign currency
accounts, current accounts in place
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> Foreign currency investment accounts (1.1.2006)
investment accounts
Strategic fit –
> Part of the growth and value added programme comvalue
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> IR contact
For further information on comdirect please contact:
comdirect Investor Relations
Daniel Fard-Yazdani, CEFA
Tel.
+49 (0) 4106 / 704 - 1966
e-mail
[email protected]
Ullrike Hamer
Tel.
+49 (0) 4106 / 704 - 1960
e-mail
[email protected]
Fax
+49 (0) 4106 / 704 - 1969
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