SNS Reaal N.V.

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Publicatie datum 06 jun 2013 - 08:00

Statutaire naam SNS Reaal N.V.

Titel 2012 net loss of € 972 million driven by loss at Property Finance and one-off items

Bericht 2012 net loss of € 972 million driven by loss at Property Finance and one-off items Highlights CORE ACTIVITIES (SNS RETAIL BANK AND INSURANCE ACTIVITIES) POST NET PROFIT EXCLUDING ONE-OFF ITEMS OF € 443 MILLION IN 2012 Lower net profit excluding one-off items at SNS Retail Bank of € 124 million, mainly due to higher loan impairments Higher net profit excluding one-off items at Insurance activities of € 402 million, driven by realised capital gains on bonds One-off items at core activities of € 602 million negative, consisting mainly of impairments of goodwill and VOBA at the Insurance activities Net loss core activities of € 159 million, mainly due to one-off impairments of intangible assets SUBSTANTIAL LOSS OF € 813 MILLION AT PROPERTY FINANCE DUE TO SHARPLY HIGHER LOAN IMPAIRMENTS IN 2012 Loan impairments Property Finance up sharply at € 941 million reflecting weakening real estate markets Total commitments reduced by € 1.7 billion to € 7.9 billion (-18%) STRONG IMPROVEMENT PRO FORMA SOLVENCY SNS BANK AND DOUBLE LEVERAGE SNS REAAL DUE TO NATIONALISATION MEASURES Pro forma core Tier 1 ratio Banking activities improves to 14.9% (from 6.1% at year-end 2012) Regulatory solvency Insurance activities of 176% at year-end 2012 not impacted by nationalisation Pro forma double leverage decreases to 105% (from 127% at year-end 2012) CORE ACTIVITIES PROFITABLE IN FIRST QUARTER 2013 First quarter 2013 net profit at core activities, excluding one-off items, of € 99 million Pro forma net exposure of Property Finance reduced to € 5.0 billion after a € 2.0 billion additional provision for real estate finance portfolio First quarter 2013 net loss SNS REAAL of € 1,622 million due to additional provision for real estate finance portfolio of Property Finance Net inflow of retail savings at SNS Retail Bank following nationalisation “The nationalisation of SNS REAAL on 1 February 2013 marked the end of a turbulent period. By taking a number of

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Datum laatste update: 28 juli 2024