February 5, 2018 / 6:51 AM / 3 months ago

BRIEF-Binckbank Q4 Total Income From Operating Activities Down At 38.7 Million Euros

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​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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