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AFM fines BinckBank €530,000 for infringement of product governance rules

The Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of €530,000 on BinckBank N.V.

Saxo Bank reported a net profit of DKK 302 million for the first six months of 2022, compared to DKK 512 million a year earlier.

The residential mortgages portfolio was acquired by BinckBank in 2016. BinckBank was acquired by Saxo Bank last year for €424 million.