NIBC to accelerate growth by focusing on asset-backed financing
Corporate News - 23 November 2021, 11:30 CET
NIBC has decided to drive forward its focused strategy by offering asset-backed products to both individuals and corporates through various labels. This allows for targeted investments in people, technology and data leading to a real difference for clients and accelerated growth.
Paulus de Wilt, CEO: “As an entrepreneurial bank for entrepreneurial people, change is in our DNA. Continuously rebalancing of our business is key to making sure we stay at the forefront in the fast-changing banking environment in which we operate.
Our results show that our focus on niches is successful, and therefore we have decided to further sharpen this. By further rebalancing our portfolio, we will be fit for the future and create room for subsequent growth, both organically and through acquisitions.”
NIBC will focus on three activities:
- Mortgages, both residential and Buy-to-let, both on- and off-balance (OtM) and both in the Netherlands and internationally
- Asset-backed transaction financing in the fields of Commercial Real Estate (also through our label OIMIO), Digital Infrastructure and Shipping and specialty financing, such as Collateralised Loan Obligations (CLOs) and providing minority equity investments
- Platform financing through Fintechs such as yesqar and Beequip
NIBC already has a distinctive offering in these areas. Recent successes include:
- the acquisition of Finqus, a mortgage portfolio of EUR 1.5bn of the previous DSB Bank;
- the launch of sustainable mortgage label Lot;
- the distinctive approach in Shipping, Digital Infrastructure and Commercial Real Estate financing leading to an accelerated growth a.o. in development financing;
- the success of Fintech Beequip, which has won a FD Gazelle award for its fast growth and the ambitions of Fintech yesqar, which enables and accelerates the transformation in mobility with smart finance solutions, benefitting from being located within the high-tech environment in Eindhoven.
Another example is the progressive ESG approach our London based team takes with the launch of the first ESG compliant CLO in 2020 and a second in 2021.
To align NIBC’s structure, the activities in other areas will be phased out in close consultation with existing clients. As a result, we will have to let go of approximately sixty employees over time, spread over the Netherlands, Germany and the UK. An advice to make the intended decision from the Dutch Works Council has been obtained.