PRESS RELEASE : flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous 
flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG 
2021-05-11 / 12:30 
The issuer is solely responsible for the content of this announcement. 
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Corporate News / Frankfurt/Main, 11 May 2021 
Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG 
- Legal merger simplifies Group structures, reduces complexity and costs 
- Strengthened branch management team to further accelerate international growth 
- DEGIRO customers will benefit from new product and service offers launched in H2 2021 
- Significant upside to annual EUR 30m+ synergy guidance expected in the medium term 
- "Vision 2025" under review due to the Group's excellent operating performance 
Frankfurt/Main - flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest retail online 
broker has successfully finalized the legal merger of its subsidiaries DeGiro B.V. and flatexDEGIRO Bank AG and further 
strengthens the DEGIRO leadership team. In addition to his current role as Group CFO, Muhamad Chahrour, will join the 
branch management, becoming CEO of DEGIRO. Stephan Simmang, currently Co-Head IT of DEGIRO, and Frans Kuijlaars, 
currently Country Manager in the Netherlands, will be appointed additional branch managers. Esmond Berkhout and Peter 
Verberne will leave the Company. With the new team, simplified structures, continued operational tailwind and new 
customer offerings, the Company is very well positioned to significantly exceed the original synergy expectation in the 
medium term. 
Nine months after closing the acquisition, DEGIRO has become a branch of flatexDEGIRO Bank under the supervision of the 
German Federal Financial Supervisory Authority (BaFin) as a result of the merger. This leads to a significant reduction 
in regulatory complexity and the number of internal corporate bodies. At the same time, the new structures will 
harmonize the corporate governance and allow for better steering and internal monitoring. Management expects further 
cost reductions and overall improvement of the risk profile while strengthening efficiency and capabilities. 
The Supervisory Board of flatexDEGIRO Bank AG extends its gratitude to the former branch managers, Esmond Berkhout and 
Peter Verberne, who have decided to leave the company by mutual agreement. 
"With the acquisition of DEGIRO we have started a new era of online brokerage in Europe. Our achievements over the last 
nine months have been tremendous. The merger will make us even faster in achieving our goals, allowing us to put our 
current "Vision 2025" under review for an upgrade," says Frank Niehage, CEO of flatexDEGIRO. "Muhamad Chahrour has 
played an essential role in the acquisition of DEGIRO and has been a driving force of our success for years. With his 
strong commercial, financial as well as international and cosmopolitan background, he is ideally positioned to lead our 
pan-European brand to the next level. I could not think of anyone better to fuel our unabated commercial growth as a 
united European team." 
"I am very excited to provide operational support to our strong DEGIRO brand at such a pivotal point in its strategic 
growth journey. With an unwavering focus on commercial excellence, we are burning to provide best-in-class service to 
all our customers. Soon, we will move forward another big step by enabling all DEGIRO customers to access further 
products and services that will stand out in the markets," says Muhamad Chahrour, CFO of flatexDEGIRO AG. "We are 
determined to seize the opportunity and build something truly unique in Europe. The stellar customer growth, an 
improved product offering and simplified structures will help us to significantly exceed the originally expected annual 
EBITDA-synergies of EUR 30+ million in the medium term." 
Contact: 
Achim Schreck 
Head of IR & Corporate Communications 
flatexDEGIRO AG 
Rotfeder-Ring 7 
D-60327 Frankfurt/Main 
Tel. [phone] 
[e-mail] 
About flatexDEGIRO AG 
flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing 
online brokerage businesses in Europe, executing millions of paperless securities transactions per annum. B2C customers 
in 18 European countries are serviced via the flatex and DEGIRO brands and offered a wide range of independent products 
at competitive pricing, based on a modern, in-house state-of-the-art technology. 
With more than 1.25 million customers and 75 million securities transactions in 2020, flatexDEGIRO is the largest 
retail online broker in Europe. In a time of bank consolidation, low interest rates and digitalization, the 
flatexDEGIRO Group is ideally positioned for further growth. Until 2025 at the latest, flatexDEGIRO aims to win over 3 
million customers and execute at least 100 million transactions per year - even in years with only low volatility. 
Contact: 
Achim Schreck 
Head of IR & Corporate Communications 
flatex AG 
Rotfeder-Ring 7 
D-60327 Frankfurt/Main 
[phone] 
[e-mail] 
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2021-05-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      flatexDEGIRO AG 
              Rotfeder-Ring 7 
              60327 Frankfurt / Main 
              Germany 
Phone:        [phone] 
E-mail:       [e-mail] 
Internet:     www.flatexdegiro.com 
ISIN:         DE000FTG1111 
WKN:          FTG111 
Indices:      SDAX 
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart, Tradegate 
              Exchange 
EQS News ID:  1195151 
 
End of News   DGAP News Service 
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1195151 2021-05-11

 
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May 11, 2021 06:31 ET (10:31 GMT)