BNG Interim Report 2012: Net Profit EUR 159 Million

BNG Interim Report 2012: Net Profit EUR 159 Million PR Newswire THE HAGUE, The Netherlands, August 29, 2012 THE HAGUE, The Netherlands, August 29, 2012 /PRNewswire/ -- With a net profit of EUR 159 million (+ EUR 5 million), BNG looks back on a good first half of 2012. The interest result - the structural part of the result - increased by EUR 14 million (6%) due to the growth of the loan portfolio. The bank's goal is to be able at all times to provide credit to its main client groups, local authorities and housing and healthcare institutions, even in the current economic uncertain times. This goal was once again achieved in the first half of 2012. At EUR 5.7 billion, new long-term lending nearly equaled the figure for first half of 2011, while the bank held on to its large market shares. This emphasizes the bank's importance to its core client sectors. The bank expects the 2012 interest result to be slightly higher than that for 2011, owing to the growth of the various portfolios and the persistently steep interest-rate curve. The 2012 result financial transactions is expected to remain negative if no structural solution is found for the European debt crisis. BNG expects new regulations to affect its profitability, such as a bank levy that will be implemented in 2012. The bank expects its contribution to be around EUR 30 million on an annual basis.