FINTECH GROUP AG (FRA:DE000524) FinTech Group AG: FinTech Group becomes flatex

Transparency directive : regulatory news

16/03/2019 07:00

DGAP-News: FinTech Group AG / Key word(s): Strategic Company Decision/Market launch
FinTech Group AG: FinTech Group becomes flatex

16.03.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt/Main, 16 March 2019

FinTech Group becomes flatex
 

  • FinTech Group Bank AG will be renamed to flatex Bank AG
  • Renaming of FinTech Group AG to flatex AG will be proposed
    at next ordinary AGM
  • Focused growth strategy of flatex is key objective


Frankfurt/Main - flatex, the main earnings and growth driver of FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) will in future be appropriately anchored and highlighted in the corporate name. Management and Supervisory Board decided to rename FinTech Group Bank AG to flatex Bank AG. At the next ordinary Annual General Shareholders' Meeting in summer 2019 the listed parent company FinTech Group AG is also to become flatex AG subject to the Shareholders Meeting.

Regardless of any name change, the profitable B2B business will be continued unconditionally. The focus on the high-margin B2C business will pave the road for the future European growth strategy "flatex goes Europe". The significantly higher brand awareness of flatex compared to FinTech fortifies the marketing efforts in acquiring new retail clients and investors as well as market entries into new countries.

"Fintech is a generic trend and usually has to be explained. There is no legal definition. Over the past years, the company has benefitted from the fintech hype. In recent times however, the Group has been increasingly associated with corresponding negative fintech topics. The likelihood of confusion and potential wrong perception does not resonate at all with FinTech Group, a mature and highly profitable business and not a cash-burning start-up without track record. Those misleading associations may have a negative influence on the appreciation of the excellent state of FinTech Group, which was never in a better shape", explained Frank Niehage, CEO of FinTech Group AG. Preliminary figures of fiscal 2018 will be disclosed at the end of March.

The highly profitable B2C operation with its core brand flatex represents more than 75% of the revenue contribution of the Group. flatex is the strong and well-established brand name in the Group. For the last 12 years flatex has also been the key success driver leading to a dominant 50% market share position in Austria and over 20% in Germany. Preparations for market entry into The Netherlands in the second quarter are currently in full swing.

"In a first step FinTech Group Bank AG becomes flatex Bank AG. We are happy that the focused growth strategy will now be directly reflected in the corporate name of our bank. We will propose the renaming of the listed FinTech Group AG to flatex AG at the upcoming AGM in summer this year", underlined Muhamad Chahrour, CFO of FinTech Group AG, the signaling effect of the decision.


 

About FinTech Group AG

FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates with flatex one of the leading and fastest growing online brokerage businesses in Europe. Executing more than 12 million customer's securities transactions paperless per annum. Offering their more than 280,000 B2C customers top services at a competitive pricing based on their modern, self-developed state-of-the-art technology.

Many B2B customers, the state infrastructure and established financial services companies as well as disruptive business ideas benefit from FinTech Group's white label banking technology and become quickly successful businesses due to the self-developed core banking system (FTG:CBS) that belongs to the most modern and most modular systems in the market - the standard platform for private and specialist banks. In times of bank consolidation, low interest rates and digitalisation, FinTech Group is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.


Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.



Contact:
Jörg Peters
IR & Press

FinTech Group AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

Phone: +49 (0) 69 450001 1701
joerg.peters@fintechgroup.com


16.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: FinTech Group AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: ir@fintechgroup.com
Internet: www.fintechgroup.com
ISIN: DE000FTG1111, DE0005249601
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

788235  16.03.2019 

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