BRIEF-Binckbank H1 Net Result Drops To 6.6 Million Euros

Mon, 22nd Jul 2019 06:36

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

* EXPECTS CONTINGENT LIABILITIES TO HAVE A MATERIAL NEGATIVE IMPACT ON BINCKBANK'S FUTURE FINANCIAL RESULTS Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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