BinckBank N.V. : 16Q1 results. Slow start for BinckBank due to negative market sentiment
(Thomson Reuters ONE) -
Highlights in first quarter 2016
* Investors were cautious which resulted in lower transaction volumes and
lower average revenues per transaction.
* Transaction volume of 2.1 million, 23% lower compared to 15Q1 (2.7 million
transactions in 15Q1).
* The Belgian branch was particularly hard hit as a result of the introduction
of the speculation tax on 1 January 2016. Transaction volume here was down
36% in 16Q1 to 185,103 (15Q1: 288,880).
* The Italian branch posted, contrary to market developments, a record quarter
with 129,123 transactions.
* The Dutch mortgage finance had a slow start. BinckBank is working actively
to accelerate the development of the investment portfolio in mortgages.
* Total income from operating activities was down 24% to ? 36.7 million (15Q1:
? 48.2 million)
* Cost control was maintained. Total operating expenses in the first quarter
of 2016 were down 4% on the comparable period in 2015.
* Adjusted net result 16Q1 ? 8.5 million (15Q1: ? 16.4 million).
* Adjusted net earnings per share 16Q1 ? 0.12 (15Q1: ? 0.23).
Strategy update: implementation of strategic positioning takes shape
* In the Netherlands, 'All in 1 investing' ('Alles in 1 beleggen') was
launched under the Binck Fundcoach label, giving investors the option of a
new form of simple to understand investment solutions on an execution-only
basis. The introduction of the 'All in 1 investing' concept represents
Binckbank's service provision in the Investment segment.
* Our study of demands and experiences of customers in the area of savings in
Europe has been completed. The launch of the savings brokerage service in
the Savings segment is scheduled for the fourth quarter of 2016.
* The development of the international roll-out of online asset management is
on schedule and is planned for the end of the calendar year.
* The migration of BinckBank France to the European base platform was
completed according to plan. All retail investors in the Netherlands,
Belgium, France and Italy are now operational on the European base platform.
* The migration of service provision to Independent Asset Managers is
scheduled for 2017.
* Retail investors in the Netherlands, Belgium, France and Italy will now all
be serviced from the European base platform.
Capital policy
* BinckBank started a share buy-back programme on 19 February 2016, and will
repurchase shares up to a total value of ? 25 million in the period until
July 2017. As at 31 March 2016, BinckBank had repurchased shares with a
total value of ? 5.4 million.
Click here for the full press release:
http://hugin.info/130685/R/2006210/741234.pdf
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Source: BinckBank N.V. via GlobeNewswire
[HUG#2006210]
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Datum: 25.04.2016 - 07:15 Uhr
Sprache: Deutsch
News-ID 466011
Anzahl Zeichen: 3596
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Town:
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Kategorie:
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