BinckBank achieves solid results in 15H1

Solid financial results driven by record number of transactions and cost control
·    Total income from operating activities in 15H1 up 4% to € 89.6 million (14H1: € 86.3)
·    Transaction volume in 15H1 up 14% to 5.0 million
·    Adjusted net profit in 15H1 up 48% to € 29.9 million (€ 0.43 per share)
·    Net result in 15H1 up 134% at € 16.8 million
·    Net outflow of assets under management at Alex decreases in 15Q2 to € 74 million (15Q1: € 241 million)
·    Capital position remains strong, with capital ratio of 37.0% (14Q4: 37.1%)
·    Interim dividend 15H1 of € 0.14 per share (14H1: € 0.10 per share)

Enhancing customer experience
·    Customer satisfaction Binck Zelf Beleggen at 7.9 (target: 8.0); Customer satisfaction Alex: 6.9 (target: 8.0)
·    Telephone waiting time less than 30 seconds in the Netherlands
·    Unscheduled downtime of trading platform very low in 15H1

Our ambition to achieve operational excellence is beginning to show results
·    Improved organisational control due to uniform structuring of country units
·    Financial reporting structured by country units
·    Retail Netherlands and Professional Services will be combined; synergy in ICT and operations
·    Cost/income ratio 15H1 63% in line with long-term target (14H1: 72%)

Vincent Germyns, chairman of the Executive Board of BinckBank:
"'I am pleased with the financial results and the progress of our strategy in the first half of this year. We have seen our income develop positively, and together with our disciplined approach to cost control this led to a strong increase in our adjusted net profit. This has enabled us to increase the interim dividend to € 0.14 per share compared to € 0.10 per share in the previous year.

Our customer service has improved, with shorter telephone waiting times. Our trading platform has provided optimal availability, even during periods of high volatility in the financial markets and heavy trading volumes. The renewed app for iOS and Android was well received in the Netherlands in the second quarter. This app will soon be available in Italy and Belgium as well. We value the trust and loyalty of our customers and we will continue to strive to offer our customers good value with our robust and secure trading platform, training and educational activities and our highly appreciated customer service.

With our focus on operational excellence, we are making good progress in improving the organisation's effectiveness and efficiency and we are laying a strong foundation for profitable growth in the longer term. The restructuring of the organisation into uniform country units has made our management more direct and ensures that we can offer a better service to our customers and independent asset managers in our different countries, and this will give synergy benefits and will allow us to focus more on our core activities."

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Source: BinckBank N.V. via Globenewswire

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