Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3 (7 lettori)
- Creatore Discussione Joe Silver
- Data di Inizio
frmaoro
il Fankazzista
BPAPMI0.3546E13 Eseguito Acquisto CW e Certificates 50 91,1 AFFCW 06/06/2013
11:00:27
11:00:27
SNS REAAL : 2012 net loss of € 972 million driven by loss at Property Finance and one-off items
06/06/2013| 02:09am US/EasternRecommend:
0
CORE ACTIVITIES (SNS RETAIL BANK AND INSURANCE ACTIVITIES) POST NET PROFIT EXCLUDING ONE-OFF ITEMS OF € 443 MILLION IN 2012
Lower net profit excluding one-off items at SNS Retail Bank of € 124 million, mainly due to higher loan impairments
Higher net profit excluding one-off items at Insurance activities of € 402 million, driven by realised capital gains on bonds
One-off items at core activities of € 602 million negative, consisting mainly of impairments of goodwill and VOBA at the Insurance activities
Net loss core activities of € 159 million, mainly due to one-off impairments of intangible assets
SUBSTANTIAL LOSS OF € 813 MILLION AT PROPERTY FINANCE DUE TO SHARPLY HIGHER LOAN IMPAIRMENTS IN 2012
Loan impairments Property Finance up sharply at € 941 million reflecting weakening real estate markets
Total commitments reduced by € 1.7 billion to € 7.9 billion (-18%)
STRONG IMPROVEMENT PRO FORMA SOLVENCY SNS BANK AND DOUBLE LEVERAGE SNS REAAL DUE TO NATIONALISATION MEASURES
Pro forma core Tier 1 ratio Banking activities improves to 14.9% (from 6.1% at year-end 2012)
Regulatory solvency Insurance activities of 176% at year-end 2012 not impacted by nationalisation
Pro forma double leverage decreases to 105% (from 127% at year-end 2012)
CORE ACTIVITIES PROFITABLE IN FIRST QUARTER 2013
First quarter 2013 net profit at core activities, excluding one-off items, of € 99 million
Pro forma net exposure of Property Finance reduced to € 5.0 billion after a € 2.0 billion additional provision for real estate finance portfolio
First quarter 2013 net loss SNS REAAL of € 1,622 million due to additional provision for real estate finance portfolio of Property Finance
Net inflow of retail savings at SNS Retail Bank following nationalisation
"Looking ahead, we can again focus on our core activities."
Gerard van Olphen, CEO SNS REAAL
"The nationalisation of SNS REAAL on 1 February 2013 marked the end of a turbulent period. By taking a number of measures, the Dutch State has reinforced the capital base of SNS REAAL. Moreover, the real estate finance portfolio of Property Finance will be transferred to a separate asset management organisation. The European Commission has temporarily approved the State aid (with the exception of the Property Finance measures) and will take a final decision on the basis of a restructuring plan, to be presented before 22 August 2013. Looking ahead, we can again focus on our core activities. We are very thankful to our customers for their continued loyalty, despite all the uncertainty and media attention in recent months." said Gerard van Olphen, Chairman of the Executive Board.
06/06/2013| 02:09am US/EasternRecommend:
0
CORE ACTIVITIES (SNS RETAIL BANK AND INSURANCE ACTIVITIES) POST NET PROFIT EXCLUDING ONE-OFF ITEMS OF € 443 MILLION IN 2012
Lower net profit excluding one-off items at SNS Retail Bank of € 124 million, mainly due to higher loan impairments
Higher net profit excluding one-off items at Insurance activities of € 402 million, driven by realised capital gains on bonds
One-off items at core activities of € 602 million negative, consisting mainly of impairments of goodwill and VOBA at the Insurance activities
Net loss core activities of € 159 million, mainly due to one-off impairments of intangible assets
SUBSTANTIAL LOSS OF € 813 MILLION AT PROPERTY FINANCE DUE TO SHARPLY HIGHER LOAN IMPAIRMENTS IN 2012
Loan impairments Property Finance up sharply at € 941 million reflecting weakening real estate markets
Total commitments reduced by € 1.7 billion to € 7.9 billion (-18%)
STRONG IMPROVEMENT PRO FORMA SOLVENCY SNS BANK AND DOUBLE LEVERAGE SNS REAAL DUE TO NATIONALISATION MEASURES
Pro forma core Tier 1 ratio Banking activities improves to 14.9% (from 6.1% at year-end 2012)
Regulatory solvency Insurance activities of 176% at year-end 2012 not impacted by nationalisation
Pro forma double leverage decreases to 105% (from 127% at year-end 2012)
CORE ACTIVITIES PROFITABLE IN FIRST QUARTER 2013
First quarter 2013 net profit at core activities, excluding one-off items, of € 99 million
Pro forma net exposure of Property Finance reduced to € 5.0 billion after a € 2.0 billion additional provision for real estate finance portfolio
First quarter 2013 net loss SNS REAAL of € 1,622 million due to additional provision for real estate finance portfolio of Property Finance
Net inflow of retail savings at SNS Retail Bank following nationalisation
"Looking ahead, we can again focus on our core activities."
Gerard van Olphen, CEO SNS REAAL
"The nationalisation of SNS REAAL on 1 February 2013 marked the end of a turbulent period. By taking a number of measures, the Dutch State has reinforced the capital base of SNS REAAL. Moreover, the real estate finance portfolio of Property Finance will be transferred to a separate asset management organisation. The European Commission has temporarily approved the State aid (with the exception of the Property Finance measures) and will take a final decision on the basis of a restructuring plan, to be presented before 22 August 2013. Looking ahead, we can again focus on our core activities. We are very thankful to our customers for their continued loyalty, despite all the uncertainty and media attention in recent months." said Gerard van Olphen, Chairman of the Executive Board.
NoWay
It's time to play the game
Anche se non e perpetua, cosa ne pensate dell'Enel 2040 in GBP XS0452187320?
Pro: è senior, in un mese ha perso davvero parecchio, il cambio è favorevole e la cedola interessante (5,75%)
Contro: è lunga ed esposta ad oscillazioni anche pesanti
Pro: è senior, in un mese ha perso davvero parecchio, il cambio è favorevole e la cedola interessante (5,75%)
Contro: è lunga ed esposta ad oscillazioni anche pesanti
oldmouseit
Forumer storico
contro c'è anche il fatto che ci sarà a breve una nuova emissione sempre in gbp.
Nel breve,per me, si rischia un riassetto delle posizioni dei fondi che vendono la vecchia per la nuova.
Ieri sei sceso dalla giostra? io no, oggi esco a 2.1
sparviero7000
Forumer storico
taglio 50k
NoWay
It's time to play the game
Però la nuova emissione è un ibrido... questa senior!
Su Fannie... sono dentro in ottica long... ho messo un soldino sul fatto che cambi il vento politico... vediamo!
NoWay
It's time to play the game
Sì... 50 k GBP
londonwhale
Forumer storico
Fino alla nuova emissione di ibridi, dubito che possano sovraperformare.
Hai provato a vedere anche le due emissioni in USD? sono callable, ma non riesco a trovare il prospetto per vedere la data di call
NoWay
It's time to play the game
Sinceramente non sapevo neanche che esistessero queste emissioni in USD?
Perpetue? Dove quotano?