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Bank Nederlandse Gemeenten Aug 07
Standard & Poors, Aug 2007
Abstract
Ownership of 50% by the State of The Netherlands Leading lender to Dutch public authorities, supporting excellent asset quality Strong capital base, benefiting from low-risk lending portfolio, despite recent capital reductions Low cost base Declining profitability from low lending margins and a smaller capital base Removal of tax-exempt status has lowered net income further The ratings on Bank Nederlandse Gemeenten (BNG) are based on the bank's 50% ownership by the State of The Netherlands (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 -90.1 billion at Dec. 31, 2006, BNG is the fifth-largest bank in...
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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