Bank Nederlandse Gemeenten N.V. Nov 09
- ID: 2027269
- November 2009
- Standard & Poors
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. Only moderate capital generation due to low lending margins. 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 one...
Companies mentioned in this report are:
- Bank Nederlandse Gemeenten N.V.
- Netherlands (State of The) (Unsolicited Ratings)
- Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.
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