NIBC Bank increases net profit in 2010 by 73% to EUR 76 million
03-09-11
- 16% growth in corporate loan portfolio (drawn and undrawn), demonstrating increased client activity.
- EUR 142 million net interest income in 2010 - nearly doubled from EUR 72 million in 2009.
- Strict and consistent cost management keeps 2010 cost to income ratio at a favourable 50% level.
- Impairments are 40% lower in 2010 compared to 2009, partly due to a more stable economic environment.
- Proposal to pay a dividend of EUR 44 million over 2010 of which EUR 22 million has already been paid as interim dividend.
- With a Tier-1 ratio of 14.5%, NIBC Bank is one of the best capitalised banks in the Netherlands and already able to fully comply with the new Basel III capital requirements.
- NIBC successfully bought back EUR 491 million of Government Guaranteed Bonds (February 2011).