>Business development in the first nine months of 2007 comdirect bank Frankfurt/Main, 23 October 2007 Dr. Andre Carls, CEO Karin Katerbau, CFO
> Agenda comvalue Strong growth, strong result Outlook Profit target raised Notes 2
> comdirect growing and delivering record results comvalue successful More customers, more assets under custody Customer activity outstrips expectations Trades at high level New record result Pre-tax profit of 70.8m 3
> More customers, assets under custody of more than 20bn Customers ( 000) Assets under custody ( bn) 888 837 805 760 594 606 611 616 935 623 14.9 7.5 3.4 4.0 16.4 8.1 3.7 4.6 17.7 8.4 3.7 5.6 19.6 8.9 3.9 6.8 20.2 8.9 3.9 7.5 Q3 Q4 Q1 Q2 Q3 2006 2007 Total customers Custody accounts Q3 Q4 Q1 Q2 Q3 2006 2007 Portfolio volume Funds volume Deposit volume 4
> High level of trading Orders (m) Securities savings plans ( 000) 2.1 1.7 2.5 2.0 3.3 2.6 3.2 2.5 3.2 2.6 112 106 121 114 134 127 141 134 146 140 Q3 Q4 Q1 Q2 Q3 2006 2007 Placed Executed Q3 Q4 Q1 Q2 Q3 2006 2007 Securities savings plans Fund-based savings plans 5
> 92,000 accounts opened in Q3 Tagesgeld PLUS accounts ( 000) Current accounts ( 000) 253 332 230 260 275 297 310 160 67 Q3 Q4 Q1 Q2 Q3 2006 2007 Q3 Q4 Q1 Q2 Q3 2006 2007 6
> www.comdirect.de: website relaunched > Enhanced customer experience Fewer clicks > Reduced complexity Optimised navigation > Increased satisfaction Positive customer feedback 7
> Brokerage: quality improved > FondsDiamanten offering Investment universe optimised > Certificate savings plans Extended from 50 to 100 > Order functions Next Order combination order goes live 8
> Banking: attractiveness enhanced > Current account bundle Opening process streamlined > Copy & paste function Online shopping simplified > Time deposit accounts Interest rates improved, top position 9
> Advice: accessibility increased > 30 thousand customers, 26 offices Chemnitz, Kassel and Heidelberg opened > Advisory quality Trained and certified custody account advisers > n-tv custody account check Successful format repeated 10
> Earnings at record level, expenses within budget Earnings and administrative expenses ( m) Net interest income after provisions ( m) 57.5 68.2 66.4 71.2 28.1 29.2 32.5 48.9 31.6 36.1 42.4 44.9 47.8 22.6 23.1 Q3 Q4 Q1 Q2 Q3 2006 2007 Earnings Administrative expenses Cost/income ratio 9M 2006 59.8% 9M 2007 65.3% Q3 Q4 Q1 Q2 Q3 2006 2007 11
> Pre-tax profit of 71m in 9 months Consolidated income statement (IFRS/IAS) in m 2006 2007 Q1 Q2 Q3 9M Q4 Q1 Q2 Q3 9M Net interest income after provisions 18.2 21.5 22.6 62.2 23.1 28.1 29.2 32.5 89.8 Net commission income 39.1 37.5 27.1 103.7 32.9 39.1 38.0 38.4 115.5 Other income 1.3-2.7-0.7-2.1 1.4 1.1-0.8 0.2 0.6 Income 58.5 56.3 48.9 163.8 57.5 68.2 66.4 71.2 205.9 Personnel costs 7.6 8.6 8.6 24.7 8.4 9.0 10.2 10.6 29.7 Other administrative expenses 23.5 23.7 20.5 67.8 25.1 31.2 32.3 34.7 98.3 Depreciation 2.2 2.4 2.5 7.1 2.6 2.2 2.4 2.5 7.1 Administrative expenses 33.3 34.6 31.6 99.5 36.1 42.4 44.9 47.8 135.1 Pre-tax profit 25.2 21.7 17.4 64.2 21.4 25.9 21.5 23.4 70.8 12
> Agenda comvalue Strong growth, strong results Outlook Profit target raised Notes 13
> Targets still firmly in sight in 000 Custody accounts 606 623 650 Current accounts 450 Customers 260 310 >1,300 Act. 2006 Act. 9M 2007 Target 2009 Act. 2006 Act. 9M 2007 Target 2009 805 935 Tagesgeld PLUS accounts Advisory customers 650 Act. 2006 Act. 9M 2007 Target 2009 332 30 20 40 67 Act. 2006 Act. 9M 2007 Target 2009 Act. 2006 Act. 9M 2007 Target 2009 14
> Q4 2007: growth course continues 2007 Profit target raised: more than 80m before tax comvalue: growth budget investment of 50m 15
> Agenda comvalue Strong growth, strong result Outlook Profit target raised Notes 16
> Segment reporting by business lines (IFRS/IAS) not consolidated in m 9M 2007 Net interest income after provisions Net commission income Other income Income Personnel costs Other administrative expenses Depreciation Administrative expenses Pre-tax profit online 89.8 110.2-0.3 199.7 27.8 94.5 6.9 129.2 70.5 offline 0.0 6.3 1.8 8.1 1.9 5.8 0.3 7.9 0.2 17
> Monthly figures: timely and transparent 2006 2007 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep ( 000) Number of customers of which: comdirect private finance customers 783 795 805 20 819 22 830 23 837 23 851 24 868 25 888 27 909 28 925 29 935 30 Number of custody accounts Number of current accounts Number of TG PLUS accounts 600 238 604 250 606 260 67 608 268 113 610 273 139 611 275 160 612 281 193 614 291 221 616 297 253 619 303 290 621 307 314 623 310 332 Orders placed Orders executed 869 659 904 701 731 598 1,043 813 1,114 853 1,164 904 951 757 1,056 824 1,150 908 1,122 930 1,206 957 846 669 ( bn) Assets under custody of which portfolio volume (excluding funds) of which funds volume of which deposit volume 15.4 7.8 3.6 4.1 15.8 7.9 3.6 4.4 16.4 8.1 3.7 4.6 17.1 8.3 3.8 5.0 17.2 8.2 3.8 5.3 17.7 8.4 3.7 5.6 18.5 8.8 3.8 5.9 19.1 8.9 3.9 6.3 19.6 8.9 3.9 6.8 19.6 8.6 3.9 7.1 19.6 8.4 3.7 7.5 20.2 8.9 3.9 7.5 18
> comdirect share As at: 28.09.2007 Shareholder structure (%) Price per share (Xetra/ ) Free float 20.41 12 10 10 Commerzbank 79.59 8 08 6 06 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 ISIN code: Stock exchange segment: Index: Reuters/Bloomberg code: DE0005428007 Prime Standard SDAX CDBG.DE/COM GR Price: Market capitalisation: 8.74 1.234bn Outstanding shares: 141,220,815 Av. daily turnover 9M/2007 (No.) - Xetra: - Frankfurt: 205,240 32,330 19
> Financial calendar 2007 > 16 Jan Cheuvreux German Corporate Conference, Frankfurt/Main > 13 Feb Press/analysts conference, Frankfurt/Main > 14 Mar Annual report 2006 > 24 Apr Quarterly report > 03 May Annual general meeting > 23 May Dresdner Kleinwort German Mid & Small Cap Fin. Seminar, London > 24 Jul Half-year report > 01 Oct ESN European MidCap Conference, New York > 23 Oct Nine-month report > 14 Nov German Equity Forum, Frankfurt/Main 2008 > 23 Jan Cheuvreux German Corporate Conference, Frankfurt/Main > 13 Feb Press/analysts conference, Frankfurt/Main > 14 Mar Annual report 2007 > 22 Apr Quarterly report > 09 May Annual general meeting > 22 Jul Half-year report > 23 Oct Nine-month report 20
> Investor Relations For further information please contact: Thore Ludwig Tel +49 (0) 4106 / 704 1966 e-mail thore.ludwig@comdirect.de Tobias Vossberg Tel +49 (0) 4106 / 704 1980 e-mail tobias.vossberg@comdirect.de Fax +49 (0) 4106 / 704 1969 21