Monthly Archives August 2016

Strong 1H 2016 performance in low interest environment

With a strong first-half performance, Argenta Spaarbank continues to consolidate its strategic position, and to support families and households in maintaining financially healthy lives. In the six months to 30 June 2016, our client base grew further with client funds under management up 3 % to 36.7 billion euros. Lending volumes grew significantly, while maintaining strong lending discipline. The net profit for the first half of 2016 reached 97.0 million euros, compared to 93.7 million euros in 1H 2015, against an economic background of persisting low interest rates, economic and political uncertainty in Europe and intensive regulatory supervision. Our result was driven by stable income from our core retail banking activities, despite accelerated operating investments and high bank levies. Our liquidity position remains strong, with our capital base also strengthened by the successful issuance of a 500 million euros Tier 2 benchmark transaction in the second quarter of 2016.
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