Page visual

Binck Bank


Print this page Email this page
Home > Report of the executive board > In Control Statement
In Control Statement

In Control Statement

In the Capital adequacy & risk report, Basel II Pillar III, as published on 30 October 2009, in the chapter of Risk Management & Capital Management and note 41 of the financial statements, we provided a detailed description of our risks and risk management framework, as well as the responsibilities of the executive board.

 

In accordance with the best practice provisions referred to in the Corporate Governance Code and with due observance of the restrictions outlined below, we confirm that our risk management and control systems offer a reasonable level of security and that we are aware of a) the degree to which the strategic and operational objectives of BinckBank are realised, b) that BinckBank complies with the applicable laws and legislation and c) our financial reporting does not contain any substantive inaccuracies. We further state that our risk management and control systems performed satisfactorily in 2009.

 

However, our internal risk management and control systems cannot offer absolute security of achieving the strategic, operational and financial objectives outright nor that legislation is complied with at all times. Furthermore, systems cannot prevent all human (assessment) errors and mistakes. Accepting risks and taking control measures is continuously subject to making cost-benefit considerations, which in its turn is inherent to entrepreneurship. We continue to pursue further improvement and optimisation of our internal risk management and control procedures.

 

Without prejudice to our statement, we would like to point out the following projects which, within the framework of the Alex and Binck integration and our aim for operational excellence, are being implemented; the integration of the Alex and Binck IT platforms and the integration of the front and back offices linked to that, further increasing the demonstrable positive effects of the control measures within our fast-growing foreign companies and the quality assurance of the various models, parameters and tables used within BinckBank.

Statement by the board

In accordance with article 5:25c of the Financial Supervision Act (Wft), we state that according to the best of our knowledge:

a) the annual report, as detailed on pages 1 to 70, offers a true and fair reflection of the course of events during the 2009 financial year at BinckBank and its affiliated companies, which data has been incorporated in its financial statements, and that the real risks BinckBank is confronted with are described in the annual report.
b) the 2009 financial statements, as detailed on pages 71 to 155, offer a true and fair reflection of the extent and composition of the assets of BinckBank as at 31 December 2009, the result, and the cash flows for 2009, in accordance with the International Financial Reporting Standards as adopted by the European Union, Title 9, Book 2 of the Netherlands Civil Code.

 

Amsterdam, 18 February 2010

The executive board

Koen Beentjes, Chairman of the board

Evert Kooistra, board member and CFO

Pieter Aartsen, board member

Nick Bortot, board member