BinckBank Q1 adjusted profit misses forecasts

AMSTERDAM, April 22 Mon Apr 22, 2013 1:50am EDT

AMSTERDAM, April 22 (Reuters) - Dutch online bank and broker BinckBank reported a worse-than-expected first-quarter adjusted net profit on Monday, citing low interest rates, lower margins, and additional operational costs.

The online bank reported adjusted net profit of 0.13 euro per share for the first three months this year, down 38 percent from a year ago.

Four analysts had expected a first-quarter net profit per share, adjusted for goodwill impairments, of 0.17 euros, with forecasts ranging from 0.15 euros to 0.18 euros.