Achmea Hypotheekbank publiceert halfjaarcijfers 2012

In the first half of 2012 Achmea Hypotheekbank reported a net profit of EUR 27 million, a EUR 30 million increase compared to the same period in 2011. This was largely attributable to a fair value profit of EUR 34 million. The operational result (Profit Before Tax excluding fair value) amounted to a profit of EUR 1 million for the first six months of 2012, a EUR 5 million reduction compared to the same period in 2011, mainly due to the fact that the 2011 interim result included a one-off positive effect due to the release from the general provision of bad debts of EUR 2 million. Furthermore interest margin fell by 4% (EUR 1 million) compared to 2011, as funding costs increased as the bank held significant additional liquidity buffers in anticipation of refinancing commitments during the second half of 2012. Operating expenses and fee and commission expenses (added together) were stable compared to 2011. The quality of the mortgage portfolio remained very strong, as reflected by the excellent payment performance of our clients.

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