Key figures (consolidated)
(amounts in € 000's) 19Q2 19Q1 ?Q1 19H1 18H1 ?H1
Customer figures
Number of transactions 2,434,383 2,591,124 -6% 5,025,507 4,989,346 1%
Assets under administration 27,725,845 27,019,470 3% 27,725,845 26,806,249 3%
Assets under management 982,905 958,965 2% 982,905 1,025,084 -4%
F inancials
Total income from operating activities 31,805 32,768 -3% 64,573 75,918 -15%
Total operating expenses 27,545 28,084 -2% 55,629 57,146 -3%
Result from operating activities 4,260 4,684 -9% 8,944 18,772 -52%
Result after tax 3,135 3,499 -10% 6,634 22,212 -70%
Net earnings per share (in €) 0.05 0.05 0.10 0.33
Cost / income ratio 87% 86% 86% 75%
Capital adequacy
Common equity Tier 1 276,830 249,815 11% 276,830 253,188 9%
Capital ratio 35.7% 34.3% 35.7% 31.9%
Leverage ratio 6.3% 5.9% 6.3% 6.2%
Highlights of the first half year 2019
• Saxo Bank has extended the initial offer period during which shareholders can submit their shares under the
Offer to 31 July 2019.
• The process for obtaining regulatory approvals is on schedule.
• As mentioned before, the expectation remains that the transaction with Saxo Bank will be completed during
the first half of Q3 2019.
• Net result 19H1 € 6.6 million (18H1: € 22.2 million).
• Net earnings per share 19H1 € 0.10 (18H1: € 0.33). The result for 18H1 included the profit on the sale of
Think ETF Asset Management B.V. (€ 8.1 million, € 0.12 per share).
• No interim dividend will be paid for the first half of 2019.
• Number of transactions 19H1 in line with 18H1 at 5.0 million transactions (+1%).
• Assets under management at the end of 19H1 amounted to € 1.0 billion (18H1: € 1.0 billion). Assets under
management of the new propositions rose to € 239 million (18H1: € 142 million). Turning point to net inflow almost reached.

Chairmen’s message
The past six months were mainly dominated by the continued development and commercialising of the
existing range of services and furthermore to preparations for the announced acquisition by Saxo Bank.
During the general meeting on 23 April, we were able to clearly present the steps and considerations
taken in the process of Saxo Bank's offer.
The plans to continue our strategy, together with Saxo Bank have been positively received. A few
stakeholders asked for additional clarification about the takeover and the offer, but in a good dialogue
we think we have demonstrated that joining forces is a valuable step in the further implementation of
our strategy.
Saxo Bank has extended the initial notification period during which shareholders can submit their shares under the
offer to 31 July 2019, because the process of obtaining regulatory approvals had not yet been completed. The
transaction with Saxo Bank is still expected to be completed during the first half of Q3 2019.
The result for the first half year of 2019 was lower than expected. Following a start of the year with more volatile
markets, the number of transactions and the transaction-related commission income decreased in the remaining
months. Our efforts in the B2B service provided a good increase in the number of customers, assets under
administration and the number of transactions. In ‘Laten Beleggen’ we saw an increase in assets under management
in the past six months. The increase came from inflow of funds in the new propositions and was also helped by the
price increases. The turning point at which there will be a net inflow of assets under management is approaching.
We note that the market conditions in which BinckBank conducts its business activities are currently very challenging.
Varying trading volumes (market sentiment / volatility), very low and negative interest rates and competition (price
pressure) are putting pressure on net commission income and net interest income. Keeping operational costs under
control is also a continuous challenge. To cope with competition, scale must be realised in order to keep the net result
at a responsible level in the longer term.
Our new initiatives have not gone unnoticed in the market. BinckBank was awarded two prizes in 2019 for the new
Assurance Vie proposition. BinckBank Italy also received an award for best digital service at the BFC FinTech Age
Awards in 2019. We also see improved customer satisfaction figures (currently 7.6) on which customers rate
BinckBank's services.
The coming months will be largely influenced by Saxo Bank's offer. If the offer is declared unconditional, the customer
will eventually experience the benefits of the collaboration. For the shareholders, I trust that they will consider Saxo
Bank's offer to be attractive and that they will offer their shares within the specified time limits. Finally, I want to thank
all our employees for their efforts over the past six months in uncertain circumstances.
Amsterdam, 22 July 2019

see & read more on
https://ml-eu.globenewswire.com/Resource/Download/ce79a00d-2787-4f28-ad74-1268e44ad75e