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Annual Report 2016 ABOUT BINCKBANK ANNUAL REPORT 2016 ABOUT BINCKBANK ABOUT BINCKBANK ANNUAL REPORT 2016 This document is a translation of the Dutch original and is provided as a courtesy only. In the event of any disparity, the Dutch version shall prevail. No rights may be derived from the translated document. ABOUT BINCKBANK TABLE OF CONTENTS ABOUT BINCKBANK 8 BinckBank profile 9 BinckBank at a glance 10 Key figures 11 Information for shareholders 12 Financial calendar for 2017 15 Key events in 2016 16 REPORT OF THE EXECUTIVE BOARD 18 Chairman’s message 19 BinckBank’s vision, mission and strategy 21 The New Binck 24 2016 targets and medium-term targets for 2018 27 Overview earnings model 28 Strengths, weaknesses, opportunities, and threats (SWOT analysis) 30 2016 Financial results 31 Developments in the countries 34 Human Resources 37 Corporate social responsibility (CSR) 39 Tax policy 42 Reserve and dividend policy 46 Outlook for 2017 47 DEVELOPMENTS IN LEGISLATION AND REGULATIONS 48 RISK MANAGEMENT 56 Risk management 57 Capital management 71 Liquidity management 79 MANAGEMENT STATEMENT 82 In-Control Statement 83 CORPORATE GOVERNANCE 84 Introduction 85 Future-oriented banking 86 Dutch Corporate Governance Code 88 Decree implementing Article 10 of the Takeover Directive 93 REPORT OF THE SUPERVISORY BOARD 94 Message from the chairman of the supervisory board 95 7 Duties of the supervisory board 96 // Composition of the supervisory board 96 Meetings of the supervisory board and subcommittees in 2016 97 Summary of the 2016 BinckBank remuneration report 102 PERSONAL DETAILS OF THE BOARD MEMBERS 107 FINANCIAL STATEMENTS 2016 111 Annual Report 2016 ABOUT BINCKBANK ABOUT BINCKBANK PROFILE BINCKBANK BinckBank N.V. BinckBank is an online bank for investors and savers. It is listed on Euronext Amsterdam and has been included in the Amsterdam Smallcap Index (AScX) since 2016. BinckBank provides services for private customers, companies/legal entities, and independent asset managers. BinckBank offers Trading, Investing, and Saving services, using a European IT base platform. BinckBank has offices in the Netherlands, Belgium, France, Italy, and Spain, and offers its services under the brands Binck and Alex. BinckBank enjoys a leading brokerage position the Netherlands and Belgium and is ranked third in France. An important feature of the online brokerage service is a stable platform that gives users access to important financial markets, professional trading facilities, and analysis tools. The online platform Binck Fundcoach makes it easy for people to invest in investment funds and ETFs by providing news, opinions, columns, and detailed fund information. Alex Vermogensbeheer and Binck Laten Beleggen are discretionary asset management products that customers can use to authorise BinckBank to invest their money. BinckBank has developed its savings brokerage service Binck Sparen for savers. With this product, BinckBank gives its customers easy access to the international savings market with an ample choice of savings products covered by the European Deposit Guarantee Scheme. BINCKBANK IN A EUROPEAN CONTEXT 9 // Annual Report 2016 ABOUT BINCKBANK BINCKBANK AT A GLANCE BinckBank is an online bank for investors and savers. Operating income y country Operational income y type of income FTE y country (in € million) (in € million) 264 Net interest income 1145 Netherlands 541 Netherlands 792 Net commission income Total 11.1 Belgium Total - transaction related Total 40 Belgium 8.1 France 36 France 1477 1477 298 Net commission income 642 3.1 Italy - non transaction related 21 Italy 109 Group 4 Spain 123 Other income NumerNumerNumer of oftransactions transactions of transactions NumerNumerNumer of ofaccounts accounts of accounts CustomerCustomerCustomer satisfaction satisfaction satisfaction 10 10 10 .3 .3 .3 620620 620 10 10 10 Numer8.6 Numer8.6 Numer8.6 of oftransactions transactions of transactions NumerNumerNumer of ofaccounts accounts of accounts615615 615 CustomerCustomerCustomer satisfaction satisfaction satisfaction 7.7 7.7 7.7 108 108 108 .3 .3 .3 620620 620 108 108 1087,1 7,1 7,1 7,3 7,3 7,3 7,3 7,3 7,3 8.6 8.6 8.6 610610 610 607607 607 615615 615 7.7 7.7 7.7 86 86 86 86 86 867,1 7,1 7,1 7,3 7,3 7,3 7,3 7,3 7,3 600610600610 600610 607607 607 NumerNumerNumer of transactionsof transactions of transactions 56Numer56Numer56Numer of accountsof accounts of accounts CustomerCustomerCustomer satisfaction satisfaction satisfaction 64 64 64 64 64 64 x million x million x million 10 10 10 .3 .3 .3 x thousand 62050600x thousand 50600620x thousand 506206005656 56 10 10 10 42 42 428.6 8.6 8.6 615 615 615 42 42 42 x million x million x million 7.7 7.7 7.7 x thousand x thousand x thousand 8 8 8 5050 50 8 8 87,1 7,1 7,1 7,3 7,3 7,3 7,3 7,3 7,3 20 20 20 610580610580 610580 607 607 607 20 20 20 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 6 6 6 6 6 6 0 0 0 600580600580 600580 0 0 0 201456201456201456 201520152015 201620162016 201420142014 201520152015 201620162016 4 4 4201420142014 201520152015 201620162016 4 4 4 x million x million x million x thousand 50x thousand 50x thousand 50 2 2 2 2 2 2 0 0 0 580 580 580 0 0 0 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 AdjustedAdjustedAdjusted net net result net result result AdjustedAdjustedAdjusted earnings earnings earnings per per share per share share CostincomeCostincomeCostincome ratio ratio ratio 60 60 6057.557.5AdjustedAdjusted57.5Adjusted net55.5 net55.5 result net 55.5result result 1,0 1,0 1,0AdjustedAdjustedAdjusted earnings earnings earnings per per share per share share 100100100 CostincomeCostincomeCostincome ratio ratio ratio 0.820.82 0.82 57.557.5 57.5 0.70.7 0.7 77 7 60 60 60 55.555.5 55.5 1,00,8 1,00,8 1,00,8 1008010080100807272 72 6464 64 40 40 40 0.820.82 0.82 0.70.7 0.7 77 7 30.530.5 30.5 0,80,6 0,80,6 0,80,6 8060806080607272 72 0.450.45 0.45 6464 64 40 40 40 AdjustedAdjustedAdjusted net net result net result result in € in € in € AdjustedAdjustedAdjusted earnings earnings earnings per per share per share share CostincomeCostincomeCostincome ratio ratio ratio 30.530.5 30.5 0,60,4 0,60,4 0,60,4 604060406040 20 20 20 0.450.45 0.45 in € million 60in € million 60in € million 6057.557.5 57.5 55.555.5 55.5 in € 1,0in € 1,0in € 1,0 100100100 0,40,2 0,40,2 0,40,2 402040204020 20 20 20 0.820.82 0.82 0.70.7 0.7 77 7 in € million in € million in € million 0,8 0,8 0,8 808080 0 0 0 0,20,0 0,20,0 0,20,0 2002002007272 72 40 40 40201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201564201564201564 201620162016 30.530.5 30.5 0,6 0,6 0,6 606060 0 0 0 0,0 0,0 0,0 0.450.45 0.45 00 0 201420142014 201520152015 201620162016 in € in € in € 0,4 0,4 0,4201420142014 201520152015 201620162016 404040201420142014 201520152015 201620162016 20 20 20 in € million in € million in € million 0,2 0,2 0,2 202020 0 0 0 0,0 0,0 0,0 0 0 0 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 10 AssetsAssetsAssets under under under administration administration administration AssetsAssetsAssets under under under management management management CapitalCapitalCapital ratio ratio ratio // 505050 25 25 Assets25 AssetsAssets under under under administration administration administration22.822.8 22.8 2,5 2,5 2,5AssetsAssetsAssets under under under management management management CapitalCapitalCapital ratio ratio ratio 20.620.6 20.6 1. 1. 1. 40.240.240.2 2520 2520 2520 18.518.5 18.5 2,52,0 2,52,0 2,52,0 50405040504037.137.137.1 22.822.8 22.8 1.7 1.7 1.7 31.31.31. 20.620.6 20.6 1. 1. 1. 40.240.240.2 2015 2015 2015 18.518.5 18.5 2,01,5 2,01,5 2,01,5 1.3 1.3 1.3 40304030403037.137.137.1 1.7 1.7 1.7 31.31.31. AssetsAssetsAssets under under underadministration administration administration AssetsAssetsAssets under under undermanagement management management 202020 CapitalCapitalCapital ratio ratio ratio 1510 1510 1510 1,51,0 1,51,0 1,51,0 1.3 1.3 1.3 303030 in € billion 25 in € billion 25 in € billion 25 in € billion 2,5in € billion 2,5in € billion 2,5 505050 105 105 105 22.822.8 22.8 1,00,5 1,00,5 1,00,5 201020102010 20.620.6 20.6 1. 1. 1. 40.240.240.2 in € billion 20 in € billion 20 in € billion 2018.518.5 18.5 in € billion 2,0in € billion 2,0in € billion 2,0 40404037.137.137.1 50 50 50 0,50,0 0,50,0 0,50,0 1.7 1.7 1.7 100100100 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 31.2016201631.31.2016 15 15 15 1,5 1,5 1,5 1.3 1.3 1.3 303030 Annual Report 2016 0 0 0 0,0 0,0 0,0 00 0 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 10 10 10 1,0 1,0 1,0 202020 in € billion in € billion in € billion in € billion in € billion in € billion 5 5 5 0,5 0,5 0,5 101010 0 0 0 0,0 0,0 0,0 0 0 0 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 201420142014 201520152015 201620162016 ABOUT BINCKBANK KEY FIGURES for the period ending December 31, consolidated (amounts in € 000’s) 2016 2015 2014 2013 2012 CUSTOMER FIGURES Number of customer accounts 614,973 606,514 595,506 551,970 518,771 Number of transactions 7,726,110 9,293,591 8,617,490 8,164,978 7,769,681 Assets under administration 22,793,380 20,575,397 18,538,716 16,124,263 13,383,874 Assets under management 1,279,980 1,697,871 1,952,193 2,147,591 1,012,617 COMPANY PROFIT AND LOSS ACCOUNT Net interest income 26,325 25,724 28,497
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