November 22, 2017 4:56 PM ET

Banks

Company Overview of De Volksbank N.V.

Company Overview

De Volksbank N.V. provides various banking products and services for individuals and small businesses in the Netherlands. The company offers savings, payments, investments, asset management, mortgages, loans, and disability and term life insurance, as well as online and mobile banking services. It operates under the four brands, including ASN Bank, BLG Wonen, RegioBank, and SNS. The company was formerly known as SNS Bank N.V. and changed its name to De Volksbank N.V. in January 2017. De Volksbank N.V. was founded in 1817 and is based in Utrecht, the Netherlands. De Volksbank N.V. is a subsidiary of de Volksholding B.V.

Hojel City Center

A-Building

Croeselaan 1

Utrecht,  3521 BJ

Netherlands

Founded in 1817

4,005 Employees

Phone:

31 30 291 5200

Key Executives for De Volksbank N.V.

Chairman of the Board & CEO
Age: 61
CFO & Director
Age: 41
COO & Director
Age: 51
Chief Commercial Officer & Director
Age: 59
Chief Risk Officer & Director
Age: 46
Compensation as of Fiscal Year 2017.

De Volksbank N.V. Key Developments

De Volksbank N.V. Presents at 15th Annual Retail Banking Forum 2017, Oct-11-2017 11:55 AM

De Volksbank N.V. Presents at 15th Annual Retail Banking Forum 2017, Oct-11-2017 11:55 AM. Venue: Austria Trend Hotel Savoyen, Rennweg 16, Wein, Vienna, Austria. Speakers: Ronald Pieters, Director Retail & Advice.

De Volksbank N.V., H1 2017 Earnings Call, Aug 24, 2017

De Volksbank N.V., H1 2017 Earnings Call, Aug 24, 2017

De Volksbank N.V. Announces Consolidated Earnings Results for the First Half Ended June 30, 2017; Provides Earnings Guidance for the Second Half of 2017

De Volksbank N.V. announced consolidated earnings results for the first half ended June 30, 2017. For the first half, the company reported net interest income of €462 million against €472 million a year ago. Net fee and commission income was €26 million against €31 million a year ago. Total income was €515 million against €510 million a year ago. Result before taxation was €236 million against €242 million a year ago. Net result attributable to shareholder was €177 million against €181 million a year ago. Net cash flow used in operating activities was €1,342 million against net cash flow from operating activities of €1,799 million a year ago. Return on Equity (RoE) as on June 30, 2017 was 10.0% against 10.8% as at June 30, 2016. Adjusted return on Equity (RoE) as on June 30, 2017 was 10.0% against 11.5% as at June 30, 2016. This decrease in net profit was more than wholly attributable to a sharply lower net release of loan provisions. The impact of lower net interest income, investment income and net fee and commission income was more than compensated by lower operating expenses and a higher result on financial instruments. Net interest income was impacted by lower mortgage rates, high (early) renewals and related hedging costs. Adjusted net result was €178 million against €193 million a year ago. Net profit adjusted for incidental items decreased by €15 million, more than wholly attributable to a sharply lower net release of loan provisions. Adjusted income was €516 million against €526 million a year ago. The decrease in net fee and commission income was due to a decline in received securities fees resulting from the sale of SNS Securities and higher distribution fees paid as a result of the reclassification of distribution fees paid by RegioBank. The average interest rate on the retail mortgages is expected to remain relatively low and net interest income in the second half of 2017 is expected to be lower than in the first half. The company expects the net result in the second half of 2017 to be lower compared to the level of the first half of 2017.

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