Stable performance NIBC Bank in H1 2013

• Stable performance, taking into account non-recurring costs for early repayment of EUR 2 billion of state-guaranteed funding
• NIBC Bank pre-tax profit up 9% to EUR 38 million in H1 2013 compared to H1 2012
• Strong capital and liquidity position NIBC Bank, with best-in-class Core Tier-1 ratio of 16.5% (13.7% H1 2012), Liquidity Coverage ratio of 130% and Net Stable Funding ratio of 105%
• Higher operating income, driven by higher interest and net trading income
• Operating expenses reduced by an additional 7%; NIBC Bank cost-income ratio at 48%
• Launch of NIBC Direct mortgages well-received, emphasising the need for transparent and more client-friendly products

Innovative banking in a changing environment
NIBC is making good progress in adjusting to an environment and client needs that are changing both rapidly and fundamentally. We are a front-runner in developing alternative ways of financing, which allow us to play the role of
intermediary and offer our knowledge and expertise to corporate clients. A good example is the fund we launched together with Belgian insurer P&V Group. On the Consumer Banking side, we emphasised our role as a market
challenger with the launch of NIBC Direct branded mortgages. The move was well-received and marks a new chapter in our successful approach of offering our clients simple and transparent products that meet their needs.

Jeroen Drost, Chief Executive Officer of NIBC:
"We are pleased to have delivered a solid half-year under conditions that remained challenging. The bank's persistent and client-centered strategy resulted in a net profit of EUR 27 million, taking into account the non-recurring costs we made to buy back state-guaranteed funding early. Pre-tax profit increased by 9% to EUR 38 million compared to H1 2012. The bank's capital and liquidity positions are strong and well above Basel III requirements. Core Tier-1 ratio of NIBC Bank improved further and reached as much as 16.5%, amongst the highest in the European banking sector. The bank's Liquidity Coverage ratio is 130%, the Net Stable Funding ratio is 105%.

The bank's solid financial position allowed us to repay outstanding government-guaranteed bonds ahead of time in two EUR 1 billion transactions. The remaining debt now stands at EUR 1.3 billion. We diversified our funding by closing transaction DMBS XVIII, sized at EUR 526.5 million, in NIBC's successful mortgage backed securities programme. In addition, Consumer Banking managed to grow its savings pool from EUR 7.7 billion year-end to EUR 8.3 billion in the Netherlands, Belgium and Germany. The bank also issued a CHF 150 million senior unsecured bond in January 2013.

Serving our clients and building long-term relationships with them remains our top priority. Given the proven effectiveness of our strategy and the slightly better economic outlook in our markets, we are confident that we will
continue to be a robust and dependable banking partner for our clients."