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BinckBank NV (BINCK.AS)

BINCK.AS on Amsterdam Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Binckbank H1 Net Result Drops To 6.6 Million Euros
Monday, 22 Jul 2019 

July 22 (Reuters) - BINCKBANK NV ::BINCKBANK PUBLISHES ITS HALF YEAR REPORT 2019.H1 NET RESULT 19H1 EUR 6.6 MILLION (18H1: EUR 22.2 MILLION).NO INTERIM DIVIDEND WILL BE PAID FOR THE FIRST HALF OF 2019.H1 NET EARNINGS PER SHARE 19H1 EUR 0.10 (18H1: EUR 0.33).H1 INCOME FROM OPERATING ACTIVITIES EUR 64.6 MILLION VERSUS EUR 75.9 MILLION YEAR AGO.H1 NET INTEREST INCOME EUR 15.6 MILLION VERSUS EUR 16.0 MILLION YEAR AGO.NUMBER OF TRANSACTIONS 19H1 IN LINE WITH 18H1 AT 5.0 MILLION TRANSACTIONS (+1%).ASSETS UNDER MANAGEMENT AT END OF 19H1 AMOUNTED TO EUR 1.0 BILLION (18H1: EUR 1.0 BILLION).DOES NOT GIVE ANY SPECIFIC OUTLOOK FOR THE SECOND HALF YEAR OF 2019.RESULT FOR THE FIRST HALF YEAR OF 2019 WAS LOWER THAN EXPECTED - CHAIRMAN, VINCENT GERMYNS.IN CONTEXT OF SAXO BANK'S OFFER, BINCKBANK EXPECTS TO INCUR ADDITIONAL COSTS BY ENGAGING EXTERNAL ADVISORS.IF SAXO BANK'S OFFER IS DECLARED UNCONDITIONAL AND AFTER TRANSACTION HAS BEEN SETTLED, THIS MAY POSSIBLY LEAD TO REDUNDANCIES FOR BINCKBANK STAFF.FOR SAXO BANK'S OFFER, EXPECTS TO HAVE TO INCUR COSTS BETWEEN € 2.0 MILLION AND € 2.5 MILLION UNTIL THE TRANSACTION IS COMPLETED.COMING MONTHS WILL BE LARGELY INFLUENCED BY SAXO BANK'S OFFER.H2 2019 WILL MAINLY BE LARGELY INFLUENCED BY DEVELOPMENTS REGARDING SAXO BANK'S OFFER FOR BINCKBANK.TRANSACTION WITH SAXO BANK IS STILL EXPECTED TO BE COMPLETED DURING THE FIRST HALF OF Q3 2019.CURRENTLY UNABLE TO RELIABLY ESTIMATE CONTINGENT LIABILITIES ARISING FROM SOCIAL PLAN IN CONTEXT OF SAXO BANK OFFER.  Full Article

Binckbank Q1 Net Interest Income Almost Flat YoY At EUR 8 mln
Tuesday, 23 Apr 2019 

April 23 (Reuters) - BinckBank NV ::REG-BINCKBANK N.V. TRADING UPDATE FIRST QUARTER 2019.NUMBER OF TRANSACTIONS 19Q1 3% LOWER THAN 18Q1 AND 2% LOWER THAN 18Q4.IN 19Q1 ASSETS UNDER MANAGEMENT INCREASED WITH EUR 69 MILLION TO EUR 959 MILLION ON A NET BASIS.NET EARNINGS PER SHARE 19Q1 EUR 0.05 (18Q4: EUR 0.12; 18Q1: EUR 0.13).Q1 NET RESULT EUR 3.5 MILLION VERSUS EUR 8.5 MILLION YEAR AGO.OPERATING EXPENSES FOR 19Q1 AMOUNTED TO € 28.1 MILLION, REMAINED IN LINE WITH THE SAME PERIOD IN 2018 (18Q1: € 28.2 MILLION)..BINCKBANK DOES NOT GIVE ANY SPECIFIC OUTLOOK FOR 2019.NET INTEREST INCOME FOR 19Q1 REMAINED IN LINE WITH 18Q1 AND AMOUNTED TO € 8.0 MILLION (18Q1: € 7.9 MILLION).MANAGEMENT BOARD, SUPERVISORY BOARD UNANIMOUSLY SUPPORT SAXO BANK TRANSACTION.THEY RECOMMEND THAT SHAREHOLDERS ACCEPT OFFER AND VOTE AT GENERAL MEETING IN FAVOUR OF RESOLUTIONS RELATING TO OFFER.  Full Article

BinckBank FY Total Income From Operating Activities Down At 142.8 Million Euros
Monday, 4 Feb 2019 

Feb 4 (Reuters) - BINCKBANK NV ::FY NET RESULT 2018 EUR 35.5 MILLION (2017: EUR 8.5 MILLION).NET RESULT PER SHARE 2018 EUR 0.53 (2017: EUR 0.13).DISTRIBUTED INTERIM DIVIDEND EUR 0.13 PER SHARE (EUR 8.7 MILLION).WILL NOT PAY A FINAL DIVIDEND FOR 2018.19% DECREASE OF OPERATING EXPENSES 2018 COMPARED TO 2017.ASSETS UNDER MANAGEMENT DECREASED TO € 0.9 BILLION AS PER 2018 (2017: € 1.1 BILLION).DOES NOT GIVE ANY SPECIFIC OUTLOOK FOR 2019.FY TOTAL INCOME FROM OPERATING ACTIVITIES EUR 142.8 MILLION VERSUS EUR 149.0 MILLION YEAR AGO.FY CAPITAL RATIO OF 31.8 PERCENT VERSUS 30.8 PERCENT YEAR AGO.FY NET INTEREST INCOME EUR 32.1 MILLION VERSUS EUR 30.0 MILLION YEAR AGO.  Full Article

Binckbank And Saxo Bank Agree On All-Cash Public Offer For All Binckbank Shares
Monday, 17 Dec 2018 

Dec 17 (Reuters) - BINCKBANK NV ::BINCKBANK AND SAXO BANK AGREE ON RECOMMENDED ALL-CASH PUBLIC OFFER FOR ALL BINCKBANK SHARES.OFFER PRICE REPRESENTS A PREMIUM OF 35% OVER CLOSING PRICE OF 14 DECEMBER 2018.TRANSACTION UNANIMOUSLY SUPPORTED AND RECOMMENDED BY BINCKBANK'S EXECUTIVE BOARD AND SUPERVISORY BOARD.ANTICIPATED THAT OFFER WILL CLOSE IN Q3 2019.PARTIES HAVE AGREED TO CERTAIN NON-FINANCIAL COVENANTS FOR BINCKBANK STAKEHOLDERS FOR A PERIOD OF THREE YEARS.DRAFT OFFER MEMORANDUM WILL BE SUBMITTED TO AFM NO LATER THAN END OF Q1 2019.IT IS ANTICIPATED THAT OFFER WILL CLOSE IN Q3 2019.TRANSACTION TO BE FUNDED VIA A COMBINATION OF EQUITY INJECTIONS BY ITS SHAREHOLDERS AND CASH AT HAND.AGREEMENT ON RECOMMENDED ALL-CASH PUBLIC OFFER OF EUR 6.35 (CUM DIVIDEND) PER ISSUED AND OUTSTANDING ORDINARY SHARE AND PRIORITY SHARE OF BINCKBANK REPRESENTING EUR 424 MILLION.IF THE MERGER PROTOCOL IS TERMINATED BECAUSE OF A SUPERIOR OFFER HAVING BEEN MADE, BINCKBANK WILL FORFEIT A EUR 4.3 MILLION TERMINATION FEE TO SAXO BANK.IF SAXO BANK ACQUIRES AT LEAST 95% OF SHARES, IT IS INTENDED THAT BINCKBANK’S LISTINGS ON EURONEXT AMSTERDAM WILL BE TERMINATED AS SOON AS POSSIBLE.IF SAXO BANK ACQUIRES AT LEAST 95% OF SHARES OF BINCKBANK, SAXO BANK WILL COMMENCE STATUTORY SQUEEZE-OUT PROCEEDINGS.THERE SHALL BE NO SALE OR CLOSE DOWN OF THE MAJORITY OF THE ASSETS OF THE BINCKBANK GROUP.BINCKBANK BRAND WILL BE MAINTAINED FOR THE NETHERLANDS AND BELGIUM.  Full Article

BinckBank Confirms Advanced Discussions With Saxo Bank On Potential Combination Of Businesses
Friday, 14 Dec 2018 

Dec 14 (Reuters) - BinckBank NV ::REG-BINCKBANK RESPONDS TO RECENT PRESS COVERAGE.BINCKBANK - CONFIRMS THAT IT IS IN ADVANCED DISCUSSIONS WITH SAXO BANK REGARDING A POTENTIAL COMBINATION OF BUSINESSES OF BINCKBANK AND SAXO BANK.DISCUSSIONS BETWEEN PARTIES ARE ONGOING.BINCKBANK -OFFER BY SAXO FOR ENTIRE ISSUED,OUTSTANDING SHARE CAPITAL OF CO AT OFFER PRICE OF EUR 6.35/SHARE WITH CONSIDERATION TO BE PAID IN CASH.  Full Article

Binckbank Q3 Net Interest Income Rises To 8.0 Million Euros
Monday, 22 Oct 2018 

Oct 22 (Reuters) - BINCKBANK NV ::REG-BINCKBANK N.V. TRADING UPDATE THIRD QUARTER 2018: "RESULT IN LINE WITH EXPECTATIONS".REG-BINCKBANK N.V. TRADING UPDATE THIRD QUARTER 2018: "RESULT IN LINE WITH EXPECTATIONS".Q3 NET EARNINGS PER SHARE 18YTD € 0.41 (17YTD: € 0.06) AND 18Q3 € 0.08.NUMBER OF TRANSACTIONS 18YTD 29% HIGHER THAN 17YTD.NET RESULT FOR THE PERIOD ENDING 18YTD AMOUNTED TO € 27.6 MILLION (17YTD: € 4.3 MILLION),.END-Q3 CAPITAL RATIO OF 32.2 PERCENT 31.9 PERCENT IN Q2.TOTAL INCOME FROM OPERATING ACTIVITIES IN THE FIRST 9 MONTHS OF 2018 AMOUNTED TO € 108.6 MILLION, 2% LOWER THAN IN THE SAME PERIOD LAST YEAR.OPERATING EXPENSES FOR 18YTD AMOUNTED TO €83.0 MILLION WHICH IS 21% LOWER COMPARED TO SAME PERIOD IN 2017.CONFIDENT THAT STRATEGIC TRANSFORMATION WILL LEAD TO VALUE CREATION IN DUE COURSE..Q3 NET INTEREST INCOME EUR 8.0 MILLION VERSUS EUR 7.6 MILLION YEAR AGO.  Full Article

Binckbank H1 Net Profit Up At 22.2 Million Euros
Monday, 23 Jul 2018 

July 23 (Reuters) - BINCKBANK NV ::REG-BINCKBANK ACHIEVES NET PROFIT OF € 22.2 MILLION FOR 18H1 (17H1: € 2.1 MILLION).NET EARNINGS PER SHARE 18H1 EUR 0.33 (17H1: EUR 0.03).ASSETS UNDER ADMINISTRATION REACH ALL TIME HIGH IN 18H1 AT EUR 26.8 BILLION.SALE OF THINK ETF ASSET MANAGEMENT CONTRIBUTES EUR 8.1 MILLION TO NET RESULT.RECORD NUMBER OF TRANSACTIONS IN ITALY (382.000 FOR H1).OPERATING EXPENSES DOWN BY 19% COMPARED TO 17H1.H1 OPERATING EXPENSES DOWN BY 19% COMPARED TO 17H1.H1 TOTAL INCOME FROM OPERATING ACTIVITIES EUR 75.9 MILLION VERSUS EUR 75.3 MILLION YEAR AGO.ASSETS UNDER ADMINISTRATION REACH ALL TIME HIGH IN 18H1 AT € 26.8 BILLION.H1 PROPOSED INTERIM-DIVIDEND 18H1 € 0.13 PER SHARE (17H1: € 0.03).H1 NET INTEREST INCOME EUR 16.0 MILLION VERSUS EUR 14.9 MILLION YEAR AGO.DOES NOT GIVE ANY SPECIFIC OUTLOOK.  Full Article

Flow Traders and Binckbank Complete Sale Of Think ETF Asset Management
Friday, 29 Jun 2018 

June 29 (Reuters) - FLOW TRADERS NV ::REG-FLOW TRADERS NV: BINCKBANK AND FLOW TRADERS COMPLETE SALE OF THINK ETF ASSET MANAGEMENT B.V..FINANCIAL DETAILS OF THE TRANSACTION WILL NOT BE DISCLOSED AT THIS STAGE.VAN ECK HAS RECEIVED ALMOST FULL OWNERSHIP OF THINK ETF ASSET MANAGEMENT B.V., ONLY MANAGEMENT OF THINK ETF ASSET MANAGEMENT B.V. WILL RETAIN A SMALL STAKE.FOLLOWING THIS SALE, BINCKBANK CEO VINCENT GERMYNS AND FLOW TRADERS CO-CEO DENNIS DIJKSTRA WILL STEP DOWN FROM THINK ETF'S' SUPERVISORY BOARD.  Full Article

Binckbank Q1 Net Result Up at 8.5 Million Euros
Monday, 23 Apr 2018 

April 23 (Reuters) - BINCKBANK NV ::NET EARNINGS PER SHARE 18Q1: EUR 0.13 (17Q4: EUR 0.07; 17Q1: EUR 0.02).COST/INCOME RATIO FOR 18Q1: 71%.Q1 TOTAL INCOME FROM OPERATING ACTIVITIES EUR 39.6 MILLION VERSUS EUR 39.9 MILLION YEAR AGO.THE RESULT AFTER TAXES FOR 18Q1 AMOUNTED TO € 8.5 MILLION (17Q1: € 1.3 MILLION),.Q1 NET RESULT EUR 8.5 MILLION VERSUS EUR 1.3 MILLION YEAR AGO.TOTAL INITIAL RECOGNITION OF IFRS 9 RESULTS IN A REDUCTION IN EQUITY OF € 1.9 MILLION.  Full Article

Binckbank Q4 Total Income From Operating Activities Down At 38.7 Million Euros
Monday, 5 Feb 2018 

Feb 5 (Reuters) - Binckbank Nv ::Q4 TOTAL INCOME FROM OPERATING ACTIVITIES EUR 38.7 MILLION VERSUS EUR 40.5 MILLION YEAR AGO.OUTFLOW AT ALEX ASSET MANAGEMENT IS CONTINUING SLIGHTLY LONGER THAN EXPECTED, CAUSING BINCKBANK TO INCUR A DELAY IN GROWTH IN ‘ASSETS UNDER MANAGEMENT’.Q4 NET INTEREST INCOME EUR 7.6‍​ MILLION VERSUS EUR 7.2 MILLION YEAR AGO.END-Q4 CAPITAL RATIO 30.8 PERCENT VERSUS 31.9 PERCENT YEAR AGO.A TOTAL DIVIDEND OF € 0.26 FOR THE 2017 FINANCIAL YEAR TO BE PROPOSED TO SHAREHOLDERS.Q4 NET RESULT EUR 4.3 MILLION VERSUS EUR 1.0 MILLION YEAR AGO‍​.2018 TARGETS REGARDING ASSETS UNDER ADMINISTRATION AT END OF 2017 WERE ACHIEVED, OTHER TARGETS NOT EXPECTED TO BE MET.EXPECT NEW PRODUCTS AND SERVICES TO SHOW POSITIVE CONTRIBUTION TO RESULTS.NEGATIVE INTEREST RATES ON MONEY AND CAPITAL MARKETS CONTINUE TO WEIGH ON NET INTEREST INCOME AND MARKET VOLUMES.2017 IS LAST YEAR FOR CO TO CHARGE AMORTISATION EXPENSES FROM 'ALEX VERMOGENSBANK' ACQUISITION.CONTINUED INCREASE IN REGULATORY BURDEN HAS UPWARD EFFECT ON COSTS.CANNOT GIVE SPECIFIC OUTLOOK, RESULTS DEPEND ON UNPREDICTABLE INTEREST RATES AND STOCK EXCHANGE DIRECTION‍​.  Full Article