BNG Achieves Strong Net Profit Growth and Funding Success
BNG Reports Strong Financial Performance
BNG has delivered impressive financial results for the first half of 2024, achieving a net profit of EUR 158 million. This marks an increase of EUR 17 million compared to the same period last year.
Key Financial Highlights
The bank's interest income reached EUR 258 million, reflecting an increase of EUR 12 million year-over-year. This growth can largely be attributed to rising interest rates, which have bolstered the bank's profitability.
The long-term loan portfolio has expanded significantly, totaling EUR 91.4 billion with a net increase of EUR 2.2 billion. Demand for loans from social housing associations and municipalities has surged, particularly in the last quarter, resulting in new lending of EUR 6 billion.
Focus on ESG Initiatives
In the first half of the year, BNG raised EUR 12.3 billion in long-term funding, with EUR 5.7 billion designated for ESG-compliant projects. The proportion of total bonds issued in ESG format rose to 46%, surpassing last year’s figure of 41%. This increase signifies BNG's commitment to financing projects that contribute positively to society and the environment.
Commitment to Sustained Growth
Despite slight lags in credit demand within the healthcare sector, municipalities continue to increase their investments, contributing to the bank's strong performance. The director remarked on the bank's robust liquidity position and positive growth outlook, stating, "We issued EUR 6 billion in new long-term loans through ESG bond proceeds, aligning financial success with social responsibility."
Strong Capital and Liquidity Position
The capital position of BNG remains strong, with the Common Equity Tier 1 ratio at an impressive 40% and the leverage ratio at 11%, both significantly exceeding the regulatory minimums. BNG's liquidity ratios also reflect its solid financial footing.
About BNG
Founded in 1914, BNG stands as a pillar in the financial landscape, dedicated to maximizing social impact through its financial endeavors. The bank collaborates closely with housing associations, municipalities, and various institutions, focusing on investments that yield both financial returns and communal benefits, championing sustainability and overall well-being.
Frequently Asked Questions
What is the net profit of BNG for the first half of 2024?
BNG reported a net profit of EUR 158 million for the first half of 2024.
How much long-term lending did BNG achieve this year?
BNG issued EUR 6 billion in new long-term loans.
What percentage of BNG's bonds are ESG compliant?
Currently, 46% of BNG's bonds issued are in ESG format.
What is BNG's Common Equity Tier 1 ratio?
BNG's Common Equity Tier 1 ratio is at 40%.
What is BNG's mission?
BNG aims to deliver maximum social impact through financial investments alongside housing associations and municipalities.
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