Acquisition of Nordnet German clients portfolio by OnVista Bank
Regulatory News:
OnVista Bank, one of the German subsidiaries of Boursorama has signed an agreement with the Swedish broker Nordnet in order to acquire its German customer base on Monday, 9th of August 2010.
OnVista Bank is among the leading specialised online broker in the German online brokerage market and a key player in the online financial information market with onvista.de website.
Nordnet's German business consists of approximately 10,000 customers on whose behalf more than 870.000 trades have been executed in 2009. Thanks to this acquisition, OnVista Bank will increase its market share in Germany with 10,000 new customers and will benefit from economies of scale.
This acquisition will have a negligible impact on the Group's Tier 1 capital ratio.
Hugues Le Bret, Boursorama's Chairman and CEO made the following comments: "OnVista Bank's new commercial offer and synergies with the onvista.de portal since the beginning of the year bore their fruits. Operational results are in line with the growth and profitability targets announced. This acquisition will allow our subsidiary to substantially increase its business volume while containing its costs. "
About Boursorama
Founded in 1995, Boursorama is a major player in on-line savings in Europe and is part of the Société Générale Group, with more than 1.5 million orders executed in the first quarter of 2010, 646,547 direct accounts and total assets under management of €12.9 billion at end March 2010. Boursorama Group is present in four countries. In France, it is market leader in on-line financial information with the www.boursorama.com portal and a key player in on-line banking under the Boursorama Banque brand. It is a key on-line broker in the United Kingdom and Spain under the respective brands of Self Trade and Self Trade Bank. In Germany, Boursorama holds 92.9% of the shares of OnVista AG, and is present under the brand OnVista Bank. Boursorama is listed on Eurolist by Euronext Paris - compartment B - ISIN: FR0000075228 (BRS) – Reuters: FMTX.LN – Bloomberg BRS FP. For all the latest financial news on Boursorama, go to: http:// Groupe.boursorama.fr
Contacts:
Boursorama
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46 09 49 40
alexandra.godin@boursorama.fr
or
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Stéphanie Tabouis, 01 57 32
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stephanie.tabouis@consultants.publicis.fr
