Saxo Bank to Complete BinckBank Acquisition in Q3 of This Year

Dutch stockbroker BinckBank announced its financial results for the first quarter of 2019 this Tuesday.

In its report, the firm provided some updates on its proposed takeover by Saxo Bank.

The Danish retail brokerage announced at the end of last year that it was planning on acquiring BinckBank for 424 million euros ($477 million).

And that deal is likely to go ahead with the Dutch firm writing in its financial report that it is “fully and unanimously supported by the executive board and the supervisory board of BinckBank.”

According to the stockbroker’s report, the process of acquiring regulatory approval for the deal has already begun, and it expects Saxo Bank to complete the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term towards the start of the third quarter of this year.

Revenues down

Outside of changes in ownership, BinckBank reported a sharp decline in revenue and profit for the first three months of the year.

In the first quarter of 2018, the brokerage reported total operating revenue of just under 39.6 million euros ($44.5 million).

Tuesday’s financial report indicates that, for the same period this year, total operating revenue was 32.8 million euros ($36.89 million) - a 17 percent decline.

Unfortunately for the Dutch firm, there was almost no difference in operational expenditure in the first quarter of this year compared to last.

For the first three months of this year, the stockbroker spent 28.1 million euros ($31.6 million) on operational expenses. The equivalent figure for the first quarter of last year was 28.2 million euros ($31.7 million).

Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term to blame

As a result, there was a sizeable year-on-year decline in profits for the firm.

After taxes, BinckBank reported net earnings of 3.5 million euros ($3.9 million) for this year’s first quarter.

That was a 55 percent drop on last year when the firm reported post-tax net earnings of just over 8.5 million euros ($9.6 million).

The Dutch company attributed the decline in earnings to lower volatility in the financial markets.

This is something that has affected a number of other brokers operating in both the retail and institutional space.