FlatexDEGIRO : Q3 review: after strong results FlatexDEGIRO is well positioned to further benefit from the high interest rate environment
>After Q3 there is more upside on the interest income side going forward - FlatexDEGIRO reported strong Q3 results that showed the benefits of its counter-cyclical revenue streams and 0% interest rate policy on customer deposits. The company achieved group revenue of € 101.4m beating consensus revenue estimates by 5.8%, driven by a +163.6% y-o-y increase in interest income and slightly better-than-expected commission income. Interest income especially benefitted from ...Flatex AG, formerly known as Fintech Group AG, is a Germany-based company engaged in the financial technology sector. The Company divides its business into two operational segments: Securities Trading and Financial Services (ST & FS) and Transaction Processing and White-Label Banking Services (TP & WLBS). The ST & FS segment includes online brokerage in the business-to-consumer (B2C) sector in Germany (on trading platforms such as flatex.de, vitrade.de) and Austria (flatex.at). The operations are conducted by the subsidiaries flatex GmbH and ViTrade GmbH. The TP & WLBS segment includes the business-to-business (B2B) activities of subsidiaries XCOM AG and FinTech Group Bank AG that focus on research and development in the area of financial technology and provide back-end execution of securities transactions for the Company's own platforms and for other banks, as well as offer business process outsourcing services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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