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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Marc Lauwers named Argenta’s new CEO

Argenta’s Board of Directors nominates Marc Lauwers as director and chairman of the Executive Committee of Argenta Bank- en Verzekeringsgroep, Argenta Spaarbank and Argenta Assuranties. He succeeds John Heller who left Argenta end of April 2016. Marc Lauwers can pride himself on a rich and impressive career in the financial industry. For over 25 years, he was active at Bacob, Artesia, Dexia and Belfius, in very diverse positions. In 2006, he became a member of Belfius’ Board of Directors and was vice president of that board up to 2013, responsible for retail and commercial banking.
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Successful inaugural Tier 2 benchmark transaction for Argenta Spaarbank

After the release of its excellent 2015 results and in a moment of good market sentiment, Argenta Spaarbank nv (“Argenta”) launched today its first subordinated benchmark issue. This Tier 2 transaction was highly successful. The EUR 500 million notes, with a maturity of 10 years and a call option at 5 years, bear an annual coupon of 3.875%. This issue was priced at the tight end of the spread guidance at a re-offer spread over euro mid swaps of 395 basis points.
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