BinckBank N.V. · 1 BinckBank N.V. Analyst & Investor Call 17H1 Results, Amsterdam, 24 July 2017...

1 BinckBank N.V. Analyst & Investor Call 17H1 Results, Amsterdam, 24 July 2017

ANALYST & INVESTOR CALL 17H1 RESULTS

Amsterdam, July 24, 2017

Vincent Germyns, Chairman of the Executive Board

Evert Kooistra, Board Member, Chief Financial & Risk Officer

BinckBank N.V.

AGENDA


Highlights17H1

Businessupdate

Financialposition

Wrap upand Q&A

AGENDA

3

HIGHLIGHTS

Financial highlights

• Adjusted net result 17H1 € 15.1m (-7% vs16H1 € 16.2m)

• Adjusted net earnings per share 17H1 € 0.23 (16H1 € 0.23)

• Adjusted net earnings per share 17Q2 € 0.11

• Analyst consensus net earnings per share 17Q2 € 0.10

• Proposed interim dividend 17H1 € 0.03 per share (16H1 € 0.04)

BinckBank N.V. Analyst & Investor Call 17H1 Results, Amsterdam, 24 July 2017


AGENDA

Highlights17H1

Businessupdate

Financialposition

Wrap upand Q&A

AGENDA

5

• Strong growth in Assets under Administrations with € 4bn, up 19% to € 24.7bn(16H1: € 20.7bn)

• Transactions in 17H1 3.9m -3% (16H1: 4.0m)

• Transactions in Belgium rebounce +23% after abolishment of speculation taks

• Income from Binck turbos +230% to € 2.4m

• Average net income per transaction in 17H1 €10.44 (16H1: € 9.82)

• Strong growth +28% in assets for Independent Asset Managers with € 1.8bn to € 8.3bn

T R A D I N G ( 1 / 2 )

LOW VO L AT I L I T Y A F F E C T S C U S TO M E R AC T I V I T Y


5,00

10,00

15,00

15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2

in €

Net fee and commission income per transaction

0

1

2

3

4

5

16H1 16H2 17H1

Mill

ion

s

Transactions

NL BE FR IT

4.0 3.7 3.9

6

• New trading platform introduced and well received by our customers in the Netherlands & Italy

• Mobile app increasingly popular. Logins > 33% and Trades up to >20% via mobile apps

• Both our new trading platform for customers & app rewarded with Best Broker by IEX Netprofiler

• Large customer events: Binck Personal Finance day the Netherlands & Investing Trading Forum in Italy

• New country manager in Belgium: Stijn Ceelen

• Commercial partnerships in France: affiliate with Zonebourse, Boursier.com & Amiral Gestion

T R A D I N G ( 2 / 2 )

B U S I N E S S H I G H L I G H T S 1 7 H 1


7

Acquisition Robo-advisor Pritle accelerates strategy with 12-18 months

• Two brand new investment services under Binck label in the Netherlands based on Pritle engine:

– Binck Forward (April)

– Binck Pension (July)

• Marketing activities Binck Forward: campaign up and running from July

• Alex Asset Management Netherlands (AuM 17H1 € 1.08bn, positive performance over 17H1)

– Implementation of ETF’s: improving diversification and limiting individual lines in portfolio

– Reconsidering positioning and rebranding

• Binck Asset Management Belgium

– Marketing campaign in 17Q1 to increase brand awareness

• Binck Fundcoach silent growth, “All-in-one investing” is popular

• Both Binck Forward and Binck Fundcoach are mentioned as best value for money solutions for recurring investing by Beleggingsmatch

I N V E S T I N G ( 1 / 2 )

N E W P R O D U C T S R E A DY F O R A S S E T G R OW T H


8

• First signs of growth for new services of Binck Laten Beleggen Belgium and Binck Forward

I N V E S T I N G ( 2 / 2 )

N E W P R O D U C T S R E A DY F O R A S S E T G R OW T H


0,0

0,2

0,4

0,6

0,8

1,0

1,2

1,4

1,6

16H1 16H2 17H1

Bill

ion

s

Asset under Management

Alex New

9

S AV I N G S

S AV I N G S B R O K E R T E C H N I C A L LY R E A DYS E A R C H F O R PA R T N E R BA N K S

• Customer test results led to product improvements:

- Acces via Mobile app

- Online opening process, without obligation for deposit

- Improved comparison tool for deposit selection

- New styling for improved UX

• Distinguished product offering to customers is key:

- Attractive interest rates

- Focus on Northwestern European banks

• Current ECB-policy delays onboarding of partnerbanks

• Preparations for commercial roll out started for both the Netherlands & Belgium, under the

condition of having an attractive product offering enabled by partnerbanks

• Commercial launch planned for 17Q4



Highlights17H1

Businessupdate

Financialposition

Wrap upand Q&A

AGENDA

• Net interest income 17H1 € 14.9m (16H1 € 12.3m)

• Size Dutch residential mortgage book: 17H1 € 731, avg yield 175 bps

• Expect to grow mortgage book to a maximum of € 800m

• Collateralised lending in 17H1 increased to € 512m (FY16 € 438m)

• Average yield on collateralised loans: approx. 350 bps (FY16 369 bps)

11

G r o u p l e v e l

NET INTEREST INCOME (1/2)


12

520

731

0

100

200

300

400

500

600

700

800

16H1 FY16 17H1

Mill

ion

s

MORTGAGE BOOK

943 9821.193

0

200

400

600

800

1.000

1.200

1.400

16H1 16H2 17H1

Mill

ion

s

CASH

480

438

512

400

420

440

460

480

500

520

16H1 FY16 17H1

Mill

ion

s

COLLATERALISED LENDING

12,314,1 14,9

0

2

4

6

8

10

12

14

16

16H1 16H2 17H1

Mill

ion

s

NET INTEREST INCOME


• Continued growth for mortgages from € 12m in 16H1 to € 731m in 17H1

• Decrease of the investment portfolio 17H1 to € 1.2bn (16H1: € 1.8bn)

• Average yield investment portfolio 17H1 37 bps (FY16 43 bps)

G r o u p l e v e l

NET INTEREST INCOME (2/2)

Cash

28%

Coll Lending

13%

Mortgages

15%

Inv. Portfolio

44%

FY16

Interest bearing assets

Cash

33%

Coll Lending

14%Mortgages

20%

Inv. Portfolio

33%

17H1


Cash

29%

Coll Lending

15%

Mortgages

0%

Inv. Portfolio

56%

16H1


€ 1,807m € 1,514m€ 1,203m

€ 731m€ 520m

€ 480m € 438m€ 512m

€ 943m € 982m € 1,193m

0

1

1

2

2

3

3

4

4

5

16H1 16H2 17H1

Mill

ion

s

Transactions

NL BE FR IT

13

G r o u p l e v e l

NET FEE AND COMMISSION INCOME& OTHER OPERATING INCOME

• Average net fee per transaction 17H1 € 10.44 (16H1: € 9.82)

• Assets under management 17H1 € 1.16bn

• Binck turbo main driver due to higher financing levels


4.03.7 3.9

0,0

0,2

0,4

0,6

0,8

1,0

1,2

1,4

1,6

16H1 FY16 17H1

Bill

ion

s

Asset under Management

Alex New

39,1 40,1 40,4

7,0 7,2 5,8

8,6 7,1 7,3

0

10

20

30

40

50

60

16H1 16H2 17H1

Mill

ion

s

Net Fee & Commission Income

Transaction Related Asset Management Other

5,3

7,0 7,0

0

1

2

3

4

5

6

7

8

16H1 16H2 17H1

Mill

ion

s

Other Operating Income

1.5

1.5

1.31.2

14

G r o u p l e v e l

ADJUSTED OPERATING EXPENSES


26,0 25,6 26,9

2,5 2,22,4

27,632,7 30,1

0

10

20

30

40

50

60

70

16H1 16H2 17H1

Mill

ion

s

Adjusted Operating Expenses

Employee Expenses Adjusted depreciation & Amortisation Other Operating Expenses

59.460.5

56.1

• IFRS Equity 17H1 € 391.0m (FY16 € 397.0m)

• Tier 1 Capital 17H1 € 246.7m (FY16 € 245.5m)

• Capital ratio 17H1 31.4% (FY16 31.9%)

• Leverage ratio 17H1 6.5% (FY16 6.7%)

15

G r o u p l e v e l

FINANCIAL POSITION

CAPITAL & LEVERAGE RATIO


4,0%

4,5%

5,0%

5,5%

6,0%

6,5%

7,0%

7,5%

16Q2 16Q3 16Q4 17Q1 17Q2

27%

28%

29%

30%

31%

32%

33%

34%

35%

36%

37%

Leve

rage

rat

io

Cap

ital

rat

io

Total Capital Ratio (Pilar 1) Leverage Ratio (LR)

240,1

245,5246,7

236

238

240

242

244

246

248

16H1 16H2 17H1

Mill

ion

s

CORE TIER 1 CAPITAL

662

769 787

550

600

650

700

750

800

16H1 16H2 17H1

Mill

ion

s

RISK WEIGHTED ASSETS


Highlights17H1

Businessupdate

Financialposition

Wrap upand Q&A

AGENDA

17

REDESIGN BINCK IN FULL SWING:

• New products launched:

1) Binck Laten Beleggen Belgium 16Q4

2) Binck Forward 17Q2

3) Binck Pension 17Q3

• Next steps:

4) Binck Laten Beleggen in the Netherlands (17Q4)

5) Assurance vie in France (17Q4)

6) Savingsbroker in the Netherlands & Belgium (17Q4)

7) Trade it with color (2018)

FOCUS ON REVENUE GROWTH

WRAP UP FOLLOWED BY Q&A


BinckBank N.V. · 1 BinckBank N.V. Analyst & Investor Call 17H1 Results, Amsterdam, 24 July 2017...

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Transcript of BinckBank N.V. · 1 BinckBank N.V. Analyst & Investor Call 17H1 Results, Amsterdam, 24 July 2017...