DGAP-News: FinTech Group AG: FinTech Group becomes flatex

DGAP-News: FinTech Group AG / Key word(s): Strategic Company Decision/Market launch

FinTech Group AG: FinTech Group becomes flatex

16.03.2019 / 07:00

The issuer is solely responsible for the content of this announcement.

Corporate News / Frankfurt/Main, 16 March 2019

FinTech Group becomes flatex


FinTech Group Bank AG will be renamed to flatex Bank AG

Renaming of FinTech Group AG to flatex AG will be proposed

at next ordinary AGM

Focused growth strategy of flatex is key objective

Frankfurt/Main - flatex, the main earnings and growth driver of FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) will in future be appropriately anchored and highlighted in the corporate name. Management and Supervisory Board decided to rename FinTech Group Bank AG to flatex Bank AG. At the next ordinary Annual General Shareholders' Meeting in summer 2019 the listed parent company FinTech Group AG is also to become flatex AG subject to the Shareholders Meeting.

Regardless of any name change, the profitable B2B business will be continued unconditionally. The focus on the high-margin B2C business will pave the road for the future European growth strategy "flatex goes Europe". The significantly higher brand awareness of flatex compared to FinTech fortifies the marketing efforts in acquiring new retail clients and investors as well as market entries into new countries.

"Fintech is a generic trend and usually has to be explained. There is no legal definition. Over the past years, the company has benefitted from the fintech hype. In recent times however, the Group has been increasingly associated with corresponding negative fintech topics. The likelihood of confusion and potential wrong perception does not resonate at all with FinTech Group, a mature and highly profitable business and not a cash-burning start-up without track record. Those misleading associations may have a negative influence on the appreciation of the excellent state of FinTech Group, which was never in a better shape", explained Frank Niehage, CEO of FinTech Group AG. Preliminary figures of fiscal 2018 will be disclosed at the end of March.
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