BinckBank completes 2016 with a strong operational last quarter. One-off expenditures put pressure on bottom line result
Business highlights 2016:
- 'All-in-1-investing' was launched In the Netherlands in 16Q1 under the label Binck Fundcoach.
- After the French migration in 16Q1, all retail activities are now working on the same platform.
- New initiatives launched with ProBeleggen in the Netherlands and ZoneBourse in France in 16Q2 to offer customers low-threshold access to the knowledge of investment professionals.
- New savings brokerage service 'Binck Savings' launched in the Netherlands in 16Q4 among a selected group of clients (pilot).
- New asset management product 'Binck Laten Beleggen' (Binck Investing for You) launched in Belgium in December 2016.
- Best of Book offering expanded to more than 550 funds, clients of BinckBank benefit for more than € 5 million in 2016.*
- Income from Binck turbos in 16Q4 up 36%, because at the end of 2016 the turbos reached the highest financing level since the start in 2014 (€ 225 million).
- Assets under administration of Independent Asset management in the Netherlands grows by almost € 1 billion.
- Assets administered by Alex Asset Management drop to € 1.3 billion at the end of FY16.
Financial highlights 2016:
- Adjusted net result FY16 € 30.5 million (FY15: € 55.5 million).
- Adjusted net profit per share FY16 € 0.45 (FY15: € 0.79).
- Proposed final dividend FY16 € 0.19 per share (FY15: € 0.25).
- At the end of FY16, the mortgage portfolio is € 520 million, and has made a positive contribution to the increase of the net interest rate result.
- BinckBank has reached agreement with VEB and Vermogensmonitor on the settlement of complaints, additional € 2.75 million expenditure in 16Q4.
- In 16Q2 the AFM imposed two fines on BinckBank. Provisions for these penalties had already been made in previous years.
- Share buyback programme 2016 (€ 25 million) completed in 16Q3 with a total of 4.6 million shares purchased in 2016.
Other highlights 2016:
- With the Agile Transformation Program, BinckBank introduces a completely new approach for dramatically reducing the time-to-market of its plans. Numerous initiatives based on Design Thinking were undertaken to improve Binck's customer centric focus'.
- In 2016, BinckBank won prizes in Italy, the Lefonti Award for Bank of the Year in online trading and the Best Online Broker in Italy in the Italian Certificate Awards. In the Netherlands, BinckBank was named Best Online Broker in the IEX Netprofiler Internet Broker Survey 2016 and Binck France is awarded with Label d'excellence by Les dossiers de l'épargne.
* Based on a calculation by Liquid Metrics for Euronext
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