Dutch broker Binckbank Q3 results meet forecasts

Reuters

AMSTERDAM, Oct 21 (Reuters) - Dutch online broker BinckBank reported third-quarter results in line with forecastson Monday and said it was seeing strong growth in its assetmanagement business and increased transaction volumes in itsretail and professional businesses.

Binckbank reported adjusted net profit of 0.15 euros pershare, at the top end of the range of 0.14 to 0.15 euros pershare in a Reuters poll of four analysts.

It reported third-quarter total revenues of 40.1 millioneuros, above the average forecast from three analysts of 37.1million euros.

"Our online brokerage business saw increased transactionvolume relative to both the previous quarter and the samequarter in the previous year," said Koen Beentjes, chiefexecutive, in a statement.

"Alex Asset Management has shown a positive development forthe fifth consecutive quarter," he added.

He said it was impossible to know what the effect of aproposed European Financial Transaction Tax (FTT) would be onthe business until negotiations on the levy had been completed.

"It is likely that the European FTT will not be implementedin its current form," he said.

View Comments (0)