Dutch broker Binckbank Q3 results meet forecasts
AMSTERDAM Oct 21 (Reuters) - Dutch online broker BinckBank reported third-quarter results in line with forecasts on Monday and said it was seeing strong growth in its asset management business and increased transaction volumes in its retail and professional businesses.
Binckbank reported adjusted net profit of 0.15 euros per share, at the top end of the range of 0.14 to 0.15 euros per share in a Reuters poll of four analysts.
It reported third-quarter total revenues of 40.1 million euros, above the average forecast from three analysts of 37.1 million euros.
"Our online brokerage business saw increased transaction volume relative to both the previous quarter and the same quarter in the previous year," said Koen Beentjes, chief executive, in a statement.
"Alex Asset Management has shown a positive development for the fifth consecutive quarter," he added.
He said it was impossible to know what the effect of a proposed European Financial Transaction Tax (FTT) would be on the business until negotiations on the levy had been completed.
"It is likely that the European FTT will not be implemented in its current form," he said.