The ratings on Bank Nederlandse Gemeenten (BNG) are based on the bank's 50% ownership by the Dutch State (AAA/Stable/A-1+) and its status as the leading lender to Dutch public authorities. The ratings are also supported by its excellent asset quality, strong capitalization, satisfactory profitability, and low cost base. With total assets of €88.6 billion at Dec. 31, 2004, BNG is the Netherlands' fifth-largest bank. Although BNG's obligations do not carry a state guarantee, the bank has substantial support from the 50% ownership by the Dutch State. Dutch municipalities and provinces own the majority of the remaining shares in the bank. Nevertheless, state support remains implicit and dependent upon circumstances. BNG's long-term mandate is to remain focused on Dutch public authorities,...
Companies mentioned in this report are:
- Bank Nederlandse Gemeenten N.V.
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