Achmea Bank

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Publicatie datum 17 mrt 2010 - 18:28

Statutaire naam Achmea Bank

Titel Achmea Hypotheekbank consolidates position in 2009

Bericht For the year ended 31 December 2009, Achmea Hypotheekbank made a net profit of EUR 50 million which is a significant improvement compared to EUR 29 million in 2008. Interest margin improved by EUR 27 million The increase in pre-tax profit in 2009 was primarily the result of a EUR 27 million increase in interest margin of which EUR 16 million relates to better pricing and continued low funding costs. In addition interest margin improved with EUR 5 million due to interest rate changes. Finally, there was an improvement of EUR 6 million in the interest margin due to changes in the fair value of interest-rate-sensitive instruments, comprising hedging results and gains and losses on derivatives and other financial instruments. Limited increase in impairment losses on loans Achmea Hypotheekbank’s lending is secured by owner-occupied residential properties in the Netherlands. When calculating loan loss impairments, Achmea Hypotheekbank takes into account the development of the collateral value and economic circumstances. As a consequence impairment losses on receivables increased from EUR 6 million in 2008 to EUR 10 million in the current year. This increase in credit risk is not yet reflected in write-downs (incurred losses) on the loan receivables, which decreased from EUR 6 million in 2008 to EUR 4 million in 2009. Capital position strengthened The Tier 1 capital as at 31 December 2009 amounted to 10.4% (2008: 9.6%) comfortably satisfying the minimum required by law. The BIS ratio strengthened to 13.1% (2008: 12.8%) and the return on equity was 10.9% (2008: 7.1%). Mortgage production decreased The Dutch residential mortgage market continued to decline in 2009, with total new mortgage advances down 34.7% at EUR 64 billion, compared with EUR 98 billion in 2008. Production of mortgage advances of Achmea Hypotheekbank decreased to EUR 0.3 billion in 2009, while mortgage resets remained stable at EUR 1.5 billion. Repayments amounted to EUR 0.8 billion resulting in an o

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Datum laatste update: 02 september 2024