NIBC boekt sterke resultaten in H1 2023 met een nettowinst van EUR 103 miljoen en toont verdere groei
Financieel persbericht - 17 aug 2023, 08:00 CEST
- Sterke resultaten gedurende het eerste halfjaar met een nettowinst van EUR 103 miljoen en een rendement op eigen vermogen van 10,9%;
- Focus op gekozen strategie resulteert in aanhoudende groei in alle kernsegmenten; Hypotheken (+3%), Asset-Backed Finance (+1%) en Platforms (+12%);
- Lagere financieringslasten resulteren in een verder gestegen netto rentemarge van 1,96%;
- Verbeterde efficiëntie leidt tot een cost/income ratio van 44%, ondersteund door zowel stijgende inkomsten (+16%) als lagere kosten (-9%);
- Kredietverliezen relatief stabiel op EUR 12 miljoen, met minder waardeverminderingen in kernportefeuilles; en
- Sterke kapitaalpositie met een verbeterde CET 1-ratio van 18,6%, zelfs na het absorberen van aanvullende prudentiële vereisten.
Statement of the CEO, Paulus de Wilt
“During the first half of 2023, we have finalised our transition into an entrepreneurial asset-based financier, fully focusing on mortgages, asset-based finance in CRE, Infrastructure and Shipping and platform financing with Beequip and yesqar. Supported by our new brand positioning, we are looking forward to new opportunities to enable our clients to realise their ambitions through providing financing solutions for their assets.
In an economic environment that is still characterised by uncertainty, we are proud to report a strong performance. All core segments report continued growth of the portfolio, and we successfully reached agreement to sell both our CLO platform and our equity investment activities, further reducing non-core exposures and de-risking the balance sheet. This allows us to focus on our core activities and further explore the growth potential for these activities.
Against this backdrop, NIBC reports a strong first half year result. Driven by both an increase in operating income and lower operating expenses, net profit increased to EUR 103 million (including a non-recurring gain of EUR 7 million net of tax). Operating income benefitted from the continued improvement of our net interest margin, supported by improved margins on liabilities and increased volumes in core portfolios. Despite continuing inflation, we have been able to effectively reduce operating expenses, leading to a cost/income ratio of 44%, within the targeted range. Cost of risk remained relatively stable.
I am also pleased to report that these developments have led to positive rating actions, as Moody’s recently published its decision to upgrade NIBC’s long-term deposit and senior unsecured debt ratings to A3 and Fitch has improved its outlook for NIBC’s debt rating to positive, with affirmation of the BBB+ rating.
We continue to invest in improving the bank’s ability to work together with its clients to address ESG opportunities and challenges, whether it is via product development to help finance the energy transition or via efficient information sharing to meet increasing reporting requirements.
Being able to both complete the transformation into a focused asset-based financier and report strong results in the current challenging macro-economic environment makes me proud of our organisation and grateful for the commitment and dedication of our people to translate our entrepreneurial spirit into daily action, ensuring that we continue to support our clients to realise their ambitions.”
NIBC Holding N.V. – Key Figures
We refer to our Interim Report 2023 NIBC Holding N.V. published on our website for full details.