BinckBank starts a share buy-back programme

BinckBank will start a share buy-back programme which is in line with earlier communications about its capital policy. The current capital and liquidity position and the business outlook offer a solid basis for this decision. BinckBank is starting its share buy-back programme while maintaining a robust capital position and an attractive dividend yield.

BinckBank will buy back shares for a total amount of € 25 million in the period from now until July 2017. Every Friday after closing of Euronext Amsterdam BinckBank will issue a press release disclosing the number of shares bought in that week. The share buy-back programme was approved by the Annual General Meeting of 30 April 2015.

BinckBank has announced in recent communications the intention to reassess its adequacy of both the capital and liquidity and the business outlook against the CRR/ CRD criteria and the guidelines of the ECB in the first quarter of 2016. As a result of this analysis BinckBank has decided to start a share-buy back program. The objective of the share buy-back is to return capital to our shareholders, in addition to the payments of dividend. The normal dividend policy of distributing 50% of the adjusted net profit will be maintained.

The earlier communicated intention to distribute its available Tier 1 capital in excess of € 200 million to shareholder, as above the payments of dividend, will be abolished as this does not any longer comply with the current regulation and the guidelines of the ECB.

In the future the distribution of capital to shareholders, in addition to the payment of dividend, has a dependency on both the rate as well as the extent to which BinckBank successfully manages the execution of its growth strategy and the investments that go along. Decisions for any capital distribution to shareholders in the future will be taken according to a prudent policy that takes the capital needed for the realization of the mentioned growth strategy of the company into account and structurally reassesses the adequacy of its capital and liquidity position and the business outlook.

In line with the Safe Harbor Regulation the share buy-back of BinckBank shall be executed by an independent operating bank. For this share buy-back program this will done by ABN AMRO bank.