BNP Paribas acquired Consors in May 2002 in order to merge it with its subsidiary Cortal and to create the leading European broker in personal investing and online trading, Cortal and Consors both holding very strong positions on the two major European markets, Germany and France .
According to the integration project, Cortal Consors has returned to the breakeven point in its operations already in the 1st half of 2003, thanks to a strong recovery of its business in Europe and the excellent dynamism grown between the teams of Cortal and Consors. This way, the group consolidates its European leadership whilst finalising the merger process by launching this autumn its new brand and visual identity.
* A significative business increase in Europe during the Q2 2003
In the 2nd quarter 2003, Cortal Consors totalised 1.8 million executed orders in Europe, an increase of +15% compared to the 1st quarter 2003. During the 1st half of 2003, the number of orders reached 3.3 million which consolidates Cortal Consors' n° 1 position in Europe. The brokerage flow progressed by 20% from the 1st to the 2nd quarter 2003. The assets under management amount to 11.9m euros which represents an increase of 10% in comparison to the 1st half of 2003.
In Germany, the number of orders amounts to more than 2 millions for the 1st semester 2003 and in June, this number has reached its highest level since October 2002. Besides, over-the-counter orders represent already 36% of all orders (in comparison to 14% in 2002).
In France, the operational merger between Cortal and Consors has been finalised since June 2003. All customer accounts of Consors France have been transferred to Cortal France Back-Office systems. Besides, Cortal Consors France now offers to its customers a new high quality trading tool developed together with Cortal Consors Germany: Active Trader. Only two months after its launch, almost 3,000 active traders have used this tool, which already represents 12% of all stock market orders in France.
Cortal Consors also continues its development in other countries where the group is present (Belgium, Luxembourg, Italy and Spain). For the 1st half of 2003, the asset gathering collection of these countries reached 256m euros (+ 8% compared to the 1st half of 2002).
* Breakeven in the operations during the 1st half of 2003
After the integration of Consors, the Cortal Consors group has returned to the breakeven point in its operations during the 1st half of 2003, in spite of unfavourable market conditions. These results are in line with the industrial project which was presented when Cortal acquired Consors in May 2002 and which aimed at breakeven for year-end 2003.
The group's Net Banking Income reached 100.4m euros during the 1st half of 2003. The costs were reduced by 19% compared to the 1st half of 2002, thanks to the implementation of the synergies resulting from the merger.
* Cortal Consors, the leading European broker in personal investing and online trading
At the end of June 2003, Cortal Consors managed 1.1 million customers throughout Europe. With almost 12bn euros of assets managed, representing an increase of 923m euros compared to year-end 2002, and a net asset gathering amount of 451m euros in the 1st half of 2003, the Cortal Consors group confirms its position as the leading European broker in personal investing and online trading, as well as the pertinence of its multi-product and multi-distribution strategy.
Cortal Consors will launch its new brand in Europe in autumn 2003.
Cortal Consors, a company of BNP Paribas, is the leading european broker in personal investing and online trading. Its mission is to help customers throughout europe to manage their savings thanks to a complete range of investment products and services. cortal consors is present in six European countries (France, Germany, Belgium, Luxembourg, Spain and Italy) and managed 1.1 million customers end of June 2003.
According to the integration project, Cortal Consors has returned to the breakeven point in its operations already in the 1st half of 2003, thanks to a strong recovery of its business in Europe and the excellent dynamism grown between the teams of Cortal and Consors. This way, the group consolidates its European leadership whilst finalising the merger process by launching this autumn its new brand and visual identity.
* A significative business increase in Europe during the Q2 2003
In the 2nd quarter 2003, Cortal Consors totalised 1.8 million executed orders in Europe, an increase of +15% compared to the 1st quarter 2003. During the 1st half of 2003, the number of orders reached 3.3 million which consolidates Cortal Consors' n° 1 position in Europe. The brokerage flow progressed by 20% from the 1st to the 2nd quarter 2003. The assets under management amount to 11.9m euros which represents an increase of 10% in comparison to the 1st half of 2003.
In Germany, the number of orders amounts to more than 2 millions for the 1st semester 2003 and in June, this number has reached its highest level since October 2002. Besides, over-the-counter orders represent already 36% of all orders (in comparison to 14% in 2002).
In France, the operational merger between Cortal and Consors has been finalised since June 2003. All customer accounts of Consors France have been transferred to Cortal France Back-Office systems. Besides, Cortal Consors France now offers to its customers a new high quality trading tool developed together with Cortal Consors Germany: Active Trader. Only two months after its launch, almost 3,000 active traders have used this tool, which already represents 12% of all stock market orders in France.
Cortal Consors also continues its development in other countries where the group is present (Belgium, Luxembourg, Italy and Spain). For the 1st half of 2003, the asset gathering collection of these countries reached 256m euros (+ 8% compared to the 1st half of 2002).
* Breakeven in the operations during the 1st half of 2003
After the integration of Consors, the Cortal Consors group has returned to the breakeven point in its operations during the 1st half of 2003, in spite of unfavourable market conditions. These results are in line with the industrial project which was presented when Cortal acquired Consors in May 2002 and which aimed at breakeven for year-end 2003.
The group's Net Banking Income reached 100.4m euros during the 1st half of 2003. The costs were reduced by 19% compared to the 1st half of 2002, thanks to the implementation of the synergies resulting from the merger.
* Cortal Consors, the leading European broker in personal investing and online trading
At the end of June 2003, Cortal Consors managed 1.1 million customers throughout Europe. With almost 12bn euros of assets managed, representing an increase of 923m euros compared to year-end 2002, and a net asset gathering amount of 451m euros in the 1st half of 2003, the Cortal Consors group confirms its position as the leading European broker in personal investing and online trading, as well as the pertinence of its multi-product and multi-distribution strategy.
Cortal Consors will launch its new brand in Europe in autumn 2003.
Cortal Consors, a company of BNP Paribas, is the leading european broker in personal investing and online trading. Its mission is to help customers throughout europe to manage their savings thanks to a complete range of investment products and services. cortal consors is present in six European countries (France, Germany, Belgium, Luxembourg, Spain and Italy) and managed 1.1 million customers end of June 2003.