Argenta demonstrates its resilience by delivering strong first half-year 2020 figures

27 August 2020

During the first half of 2020, the worldwide corona pandemic created a major upheaval of unprecedented speed and proportions in social and economic environments.

Even in those circumstances, Argenta continued to guarantee personal and close-to-the-customer service. Almost all head office employees have been working from home since 16.03.2020; while Argenta branches have remained open throughout for customers by appointment. On top of this, Argenta regularly updates customers on how corona is impacting their investments. This instils a sense of confidence: with an increase of 3 billion euros, funds under management at Argenta have passed the 50 billion euros mark for the first time. The growth in savings and current accounts is accompanied by strong growth in Argenta investment funds and investment insurance policies.

Despite these challenges, which placed considerable pressure on the financial sector, Argenta was able to keep its recurring interest margin stable, post a good result from its fee activities and keep costs under control. Argenta confirms its strong position in the Belgian banking and insurance landscape and on the Dutch mortgage market by again presenting healthy growth figures in the first half of 2020.

Argenta presents at group level a consolidated result of 94 million euros for the first half of 2020, compared to 77 million euros for the first six months of 2019.

'In the given circumstances, we are satisfied with this first half of the year. Our solid buffers are helping us come through the corona crisis. Argenta's solvency remains excellent. Argenta's liquidity position also remains very robust, although that is both good and bad good news. The fact is that, given low market interest rates and costs, the funds in the savings accounts act as a drag on, rather than boost, Argenta's results’, says Argenta CEO Marc Lauwers.

For the full press release, we refer to the file below: