Fidor Bank AG: FIDOR Bank Reports Positive Preliminary Result for 2014 and Continues its Growth Course

MUNICH, February 23, 2015 /PRNewswire/ --

- preliminary figures published for 2014
- further solid B2C and B2B growth

FIDOR Bank AG announces preliminary figures for the year 2014: the bank's preliminary unaudited financial statements show a net after-tax profit of approximately €2.5 million (previous year: €0.2 million). Total assets increased by 33% to €305 million.

Its growth is driven by the rapid rise in user and customer numbers. In 2014 the number of users in the Fidor community went up by around 51,000 or 24% to 264,000. Of the total, 76,000 have provided full personal identification (previous year: 51,000). In a recent customer survey more than 35% said they use Fidor Bank for their main bank account.

Deposits and credit volumes at FIDOR Bank AG went up along with customer numbers. By year-end deposits had risen by 34% to €269 million. Lending at FIDOR Bank AG increased year on year by 41% to €219 million. The average net interest margin is over 5%. "The rapid increase in customer numbers shows that our 'Banking with Friends' is increasingly being adopted by the market. The Fidor Group is growing and is profitable, both in the deposit and lending business at FIDOR Bank AG and in the international project business of Fidor Tecs AG," said Matthias Kröner, speaker of the Executive Board of FIDOR Bank AG.

About Fidor Bank AG:  

FIDOR Bank AG (http://www.fidor.de ) is an internet-based direct bank licensed in Germany. The Fidor Smart current account is a primary bank account, offering a combination of a classical bank account with internet payments and innovative banking services. The services on offer to corporate clients include selected financing products and a Fidor Smart business account especially created for e-commerce.

Press contacts
Fidor Bank AG
Nick Riegger | Sandstraße 33 | 80335 Munich | Germany
Tel.: +49-89-189-085-157 | Fax: +49-89-189-085-199 | Mail: presse(at)fidor.de