Belgians are investing heavily ever since income from savings accounts has been drastically reduced, according to quarterly results from Binckbank, the online investment bank. The first quarter was the best ever registered by Binckbank in Belgium, says the Dutch bank active in the Netherlands, Belgium, France, Italy, and Spain. A total of 282,968 transactions took place, 29% more than in the previous quarter.
Belgians choose to invest heavily because savings accounts yields are very low, confirmed Vincent Germyns, the Belgian ad interim CEO of Binckbank.
The largest online bank in the Netherlands and Belgium also revealed that Belgian Vincent Germyns will permanently head Binckbank as of January 1st, 2015, taking over from Koen Beentjes. His nomination only needs the approval of the Dutch central bank. Binckbank has over 600 employees and approximately 590,000 clients. It has an accounting balance of 4 billion euros and registered an adjusted net income of 16.4 million euros in the first quarter of 2015.