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NIBC announces second interim dividend of EUR 0.25 per share, backed by profits on exits of equity investments

Financial Press Release -
  • Net profit YTD Q3 2018 up to EUR 160 million, boosted by high investment income (YTD Q3 2018: EUR 56 million);
  • Strong net interest income demonstrated by increased net interest margin;
  • Return on Equity YTD Q3 2018 at 13.4%, well above our medium term objective;
  • Fully loaded CET 1 ratio of 16.8% at 30 September 2018.

Today, 29 November 2018, at 15.00 CET (14.00 GMT), NIBC is hosting a Capital Markets Update in London, which is also webcasted. The theme is ‘Reflections’ and management will be reflecting on the business post this year’s IPO and elaborating on financial drivers behind the performance YTD Q3 2018.

Statement of the CEO, Paulus de Wilt:

“Year to date performance at the end of the third quarter continued to be strong, with all key performance metrics improving. Net profit was boosted by high investment income driven by the sale of several equity investments. As we continue to rebalance our portfolios, we grasp opportunities we see in the market which allow us to grow and make our portfolios more granular. In the first nine months of 2018, our corporate client assets grew with 3%, while our on-balance mortgage loan portfolio grew with 5%. The off-balance originate to manage mortgage portfolio nearly tripled over the same period. Net interest margin improved further in the third quarter, mainly driven by a further decrease of the average funding spread.

Our solvency ratios are strong and we are well prepared for potential changes of the economic climate as well as the regulatory environment. We continued to deliver upon our promises since our listing. I am pleased to announce a second interim dividend of EUR 0.25 per share, payable in December 2018, backed by profits on exits of equity investments.”

Financial information YTD Q3 2018

In the full press release we reflect further on the development of NIBC‘s business, key figures, on the main drivers behind the development of our net interest margin and on our capital position. As part of the Capital Markets Update, we also reflect on the “Financial drivers YTD Q3 2018”. By clicking on this link you will have direct access to this information.

The YTD Q3 2018 figures in this press release are unaudited / not reviewed.

Click here to download the full press release

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