SRH N.V.

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Publicatie datum 15 aug 2013 - 08:00

Statutaire naam SRH N.V.

Titel SNS REAAL Core activities post 2013 first half net profit of € 204 million

Bericht SNS REAAL including Property Finance posts 2013 first half net loss of € 1,585 million due to one-off provision for real estate finance portfolio related to nationalisation CORE ACTIVITIES (SNS RETAIL BANK AND INSURANCE ACTIVITIES) POST NET PROFIT OF € 204 MILLION • Higher net profit at SNS Retail Bank of € 218 million, mainly due to higher net interest income and other income • € 1.3 billion net inflow of retail savings at SNS Retail Bank following nationalisation • Lower underlying net profit at Insurance activities of € 29 million due to lower direct investment income, higher claims at Non-Life and lower technical results • Net loss at Insurance activities of € 53 million, driven by impairments of intangible assets and a lower underlying performance STRONG IMPROVEMENT SOLVENCY SNS BANK AND DECREASE DOUBLE LEVERAGE SNS REAAL DUE TO NATIONALISATION MEASURES; INSURANCE SOLVENCY SLIGHTLY LOWER • Core Tier 1 ratio Banking activities improves to 12.2% (6.1% at year-end 2012); Pro forma core Tier 1 ratio amounts to 16.3% • Regulatory solvency Insurance activities of 172% (176% at year-end 2012) • Double leverage SNS REAAL decreases to 107% (130% at year-end 2012) NET LOSS OF € 1,789 MILLION AT PROPERTY FINANCE • Net loss at Property Finance due to € 1.8 billion net impact of provision to bring valuation real estate finance portfolio in line with transfer value as determined by Dutch State • Pro forma net exposure of Property Finance (net of additional provision) reduced to € 4.8 billion • Good progress on intended separation of Property Finance to a separate asset management organisation as per 31 December 2013 “During the second quarter, SNS REAAL came into calmer waters. Most nationalisation measures have been implemented and the core activities of SNS REAAL posted a net profit for the first half year of € 204 million. Impairments of intangible assets (mainly VOBA) and a lower underlying performance led to a net loss at the Insurance activities in the second quar

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Datum laatste update: 21 december 2025