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  • Press release

Cortal had over 550 000 clients as of 30 june 2000

Savings deposited with Cortal in Mutual Funds and life insurance products: +55% in the course of the first half of the year Transaction flow via e-cortal, the Cortal brokerage service: +171%

The number of Cortal clients stood at 554 000 as of 30 June 2000, an increase of 81 000 as compared with the end of December 1999. This increase results from a doubling of the number of new clients during the first half of 2000 as compared with the same period in 1999 (+ 85 000, as against + 43 000 in the first six months of 1999).

This growth was fuelled by the launch of new products and services for shares (on-line market analyses on the TRADING site in March), investment funds (launch of the "MultiSicav Avenir+" Mutual Fund in May and revision of the interest on time-deposit accounts in June) and life insurance (on-line subscription for the "Contrat Majeur" since April), combined with the strong increase in advertising expenses by Cortal.

Savings deposited in investment funds and life insurance amounted to Euros 890 million during the first 6 months of 2000, 55% higher than in the first half of 1999. Savings deposited through the Mutual Funds Supermarket, which gives access to over 5000 Mutual Funds under French and Luxembourg laws, represented over half this amount, at Euros 490 million (+120% as compared with the first half of 1999).

During the same period, the activity of e-cortal, the Cortal brokerage service, grew considerably:
The number of on-line accounts (Internet, Minitel and Internet application) stood at 96 600 at the end of June 2000, i.e. +89% as compared with the end of December 1999.

The flow of transactions during the first half of this year reached Euros 6,2 billion, up 171% as compared with the first half of 1999 and up 97% as compared with the second half of 1999.

There were 1,4 million trades executed in the course of the first six months of 2000, i.e. the same number as for the whole of 1999.

The mission of Cortal is to help European individuals build and manage their savings. Customers are given access to services covering all mutual funds and principle stock markets.