SNS Bank rapporteert over eerst halfjaar 2015 nettowinst exclusief incidentele posten van € 197 miljoen

Commercial developments first half of 2015

• SNS Bank welcomed 131,000 new customers
• Overall improvement of customer satisfaction levels
• New mortgage production increased to € 0.9 billion (+34%); market share new retail mortgages slightly higher at 3.8%
• Market share retail mortgages based on total portfolio slightly lower at 7.1%, due to higher redemptions
• Retail savings balances increased to € 37.3 billion (+5%); market share retail savings balances stable at 10.7%

Financial performance first half 2015

• Higher net profit excluding one-off items of € 197 million (first
  half of 2014: € 154 million), supported by higher net interest income
  and lower loan impairment charges
• Adjusted return on equity of 12.9% (first half of 2014: 11.4%)
• Sharply higher net profit of € 244 million (first half of 2014: €
  111 million), impacted by substantial one-off gains due to positive fair
  value movements of mortgages and related derivatives
• Slightly higher adjusted efficiency ratio of 46.6% due to increase in operating expenses
• Improved credit quality retail mortgage portfolio: marked decline in loans in arrears and lower new inflow of loans in default

Capital ratios 30 June 2015

• Stand-alone Common Equity Tier 1 ratio of 20.4%, up compared to year-end 2014 (18.3%)
• Increase in stand-alone leverage ratio to 4.3% (year-end 2014: 3.8%)
• Common Equity Tier 1 ratio on a prudential consolidated basis lower
  at 14.1% (year-end 2014: 15.6%), due to inclusion of book loss at SNS
  REAAL on sale of VIVAT Verzekeringen

Disentanglement SNS REAAL and transfer SNS Bank to Dutch State

• Disentanglement process SNS Bank, VIVAT Verzekeringen and SNS REAAL in final phase
• SNS Bank expected to be transferred from SNS REAAL to the Dutch State