BinckBank: quarterly profit falls due to low volatility
(CercleFinance.com) - Dutch online broker BinckBank said that its profit fell by almost 60% in the first quarter as transaction volumes fell.
BinckBank reported first-quarter profit per share of 0.05 euro, down from 0.13 euro per share in the first quarter of 2018.
"The volatility in the financial markets was quite low last quarter. This is immediately apparent on the income side," the group said.
BinckBank said that the number of transactions in the first quarter fell by 3% year-on-year.
It also said that progress in the bid offer of Saxo Bank was "in line with expectations."
BinckBank shares were down 0.3% at 6.3 euros on Tuesday, in line with the Dutch stockmarket. They have risen by 34% over the past six months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
BinckBank reported first-quarter profit per share of 0.05 euro, down from 0.13 euro per share in the first quarter of 2018.
"The volatility in the financial markets was quite low last quarter. This is immediately apparent on the income side," the group said.
BinckBank said that the number of transactions in the first quarter fell by 3% year-on-year.
It also said that progress in the bid offer of Saxo Bank was "in line with expectations."
BinckBank shares were down 0.3% at 6.3 euros on Tuesday, in line with the Dutch stockmarket. They have risen by 34% over the past six months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.