Sns
SNS (oh raga, i risultati sono usciti ieri!!!)
un po di professionalità, perdiana!! ahahahahahhaa
SNS REAAL posts third quarter net profit of € 34 million
Monday, November 5, 2012
Key Points
Higher net profit at core activities of € 133 million
Net loss at Property Finance of € 99 million; higher loan impairments due to further weakening of Dutch real estate markets
Lower net profit at SNS Bank; higher net profit at SNS Retail Bank but lower result at SNS SME due to higher loan impairments
Higher net profit at Insurance activities, positively impacted by realised gains on investment portfolio; higher underlying profit at Life insurance, small net profit at Non-life insurance
Total operating costs down 6%
Core Tier 1 ratio SNS Bank NV decreases to 8.8% (end of June: 9.6%) due to an increase in risk-weighted assets and the loss at Property Finance*
Regulatory solvency of Insurance activities virtually stable at 198% (end of June 2012: 199%)
Repositioning of SNS SME: commercial real estate-based loan portfolio to be combined with Property Finance and put in run-off
Earlier announced review for strategic restructuring and capital enhancement and simplification measures is ongoing
(*) Core Tier 1 ratio based on Basel II, taking into account the higher of risk-weighted assets under Basel II or Basel I with an 80% floor.
“We are making progress with the exploration of a broad range of scenarios for both strategic restructuring and the enhancement and simplification of our capital base, which we announced earlier this year. Our aim is to find a comprehensive solution for the Property Finance portfolio and the capital position of SNS REAAL. The outcome will likely consist of a combination of several measures. No decisions have been taken yet. It is our intention to provide a further update later this year or early next year.
The net profit at SNS REAAL’s core activities of € 133 million held up well in the third quarter, in an ongoing difficult economic and capital markets environment. At the same time, customer service levels remained strong, while we reduced operating costs by 6%. The ongoing efforts and commitment of our employees have again been important in the performance of our core activities.
However, loan impairments at Property Finance increased and the run-off of the commercial real estate-based loan portfolio slowed down, reflecting the limited refinancing capacity in the market and the increasing pressure on prices in the commercial real estate sector.
"The net profit at SNS REAAL’s core activities held up well in the third quarter."
Ronald Latenstein, CEO SNS REAAL.
Going forward, SNS Bank will focus primarily on retail clients. As a consequence, the commercial real estatebased lending operations of SNS SME will be combined with those of Property Finance.
While macro-economic trends and financial markets remain very challenging, we remain committed to executing our strategic priorities”, said Ronald Latenstein, Chairman of the Executive Board.
Attachment
Full press release (pdf)
) una buona notizia ... ma a parte ciò, non ricordo qual'è il termine ultimo da parte di SNS di annunciarci il NON pagamento della cedolina per la SNS523 (a parte quello che potrebbe fare lo stato NL ecc ecc 
S0468954523 .11,25%
