Click here to close now.


News Feed Item

Net Profit BNG Bank EUR 153 Million

THE HAGUE, The Netherlands, August 25, 2014 /PRNewswire/ --


BNG Bank's net profit rose by EUR 30 million to EUR 153 million compared with the same period in 2013. The increase was mainly due to an improved result on financial transactions, almost entirely due to unrealized market value adjustments. 

At EUR 4.7 billion the volume of new long-term lending in the reporting period was almost EUR 1.0 billion lower than in the first half year of 2013. The bank's persistently high share in the total demand for financing in its main client sectors in conjunction with the lower volume reflects a decline in client demand. This demand largely relates to the refinancing of existing loans. The unfavorable economic conditions coupled with spending cuts or tax and rate increases offer the bank's clients little room for new investments. Moreover, clients have adopted a reticent approach due to continuously changing regulations.

In the reporting period BNG Bank raised EUR 9.6 billion (2013: EUR 7.7 billion) long-term funding for refinancing and lending purposes. The international capital markets' growing confidence in the euro and the European banking sector has further improved the availability of funding at attractive rates.

BNG Bank will most probably fall under the direct supervision of the European Central Bank effective November 2014. In the build-up to this transition, the bank is taking part in the Comprehensive Assessment, which includes the Asset Quality Review and the Stress Test. The results will be announced in October.

The 2014 interest result is expected to turn out lower than that for 2013. The result on financial transactions will remain sensitive to the level of economic recovery in the Eurozone. In view of the prolonged uncertainties, the bank does not consider it wise to make a statement regarding the expected 2014 net profit.

BNG Bank has today published its Interim Report on For further details, please refer to this publication. 

This is an unofficial translation of the Dutch press release 'BNG Bank Halfjaarbericht 2014'. This translation is provided for convenience only. In the event of any ambiguity, the Dutch text will prevail. 

For further information:

BNG Bank

Aart Rietveld, BNG Bank spokesman

PO Box 30305


BNG Bank is the bank of and for local authorities and public sector institutions. The bank makes a sustainable contribution to minimizing the costs of social provisions for the public. 

Consolidated balance sheet 

Amounts in millions of euros 

                                                                     30-06-2014 31-12-2013
    Cash and balances with the central banks                              1,375      1,467
    Amounts due from banks                                               10,973      8,509
    Financial assets at fair value through the income statement           3,938      3,530
    Other financial assets                                               21,304     15,874
    Financial assets available-for-sale                                  11,750      9,607
    Loans and advances                                                   90,740     92,074
    Investments in associates and joint ventures                             53         53
    Property and equipment                                                   17         17
    Other assets                                                             81         52

    TOTAL ASSETS                                                        140,231    131,183

    Amounts due from banks                                                3,565      3,939
    Financial liabilities at fair value through the income statement      3,715      3,553
    Other financial liabilities                                          19,136     15,086
    Debt securities                                                      98,545     94,828
    Funds entrusted                                                      11,218     10,033
    Subordinated debts                                                       32         32
    Other liabilities                                                       411        282
    Total liabilities                                                   136,622    127,753

    Share capital                                                           139        139
    Share premium reserve                                                     6          6
    Revaluation reserve                                                     243        180
    Cash flow hedge reserve                                                 366        332
    Other reserves                                                        2,702      2,490
    Net profit                                                              153        283
    Equity                                                                3,609      3,430

    TOTAL LIABILITIES                                                   140,231    131,183

Consolidated income statement 

Amounts in millions of euros 

                                      First half of 2014  First half of 2013

    - Interest income                      711                 725
    - Interest expenses                    476                 471
    Interest result                                  235                 254

    Results from associates and
    joint ventures                                     1                   0

    - Commission income                     18                  16
    - Commission expenses                    4                   3
    Commission result                                 14                  13

    Result on financial transactions                  -7                 -49

    Other results                                      1                   2
    TOTAL INCOME                                     244                 220

    Staff costs                                       18                  18
    Other administrative expenses                     13                  12
    Depreciation                                       1                   1
    TOTAL OPERATING EXPENSES                          32                  31

    Impairments                                        8                  18

    PROFIT BEFORE TAX                                204                 171

    Taxation                                         -51                 -48

    NET PROFIT                                       153                 123


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...