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Bank Nederlandse Gemeenten N.V. Dec 10
Standard & Poors, Dec 2010
Abstract
Its 50% ownership by the State of The Netherlands. Leading lender to Dutch public authorities, supporting very strong asset quality. Very strong capital base. Low cost base and good efficiency. Relatively limited diversification of income sources, with high reliance on interest income. Possible constraints arising in high leverage, despite low-risk exposures. The ratings on Bank Nederlandse Gemeenten N.V. (BNG) are based on the implicit support the bank receives from the Dutch Ministry of Finance, arising from BNG's public sector mandate and combined ownership by the State of The Netherlands (AAA/Stable/A-1+) and other Dutch public authorities. Standard & Poor's Ratings Services regards BNG as a government-related entity (GRE) and expects it to continue to play a prominent public policy role as...
Companies mentioned in this report are: Bank Nederlandse Gemeenten N.V.,Netherlands (The) (State of) (Unsolicited Ratings),Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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