Achmea Bank N.V. reports an operating profit of EUR 81 million

vrijdag 15 maart 2024


  • Achmea Bank N.V. reports for 2023 an operating profit before taxes of EUR 81 million (2022: EUR 18 million), EUR 60 million profit after tax (2022: EUR 13 million)
  • The Common Equity Tier 1 Capital Ratio is strong at 16.9% (2022: 18.2%)
  • The mortgage portfolio increased by EUR 2.0 billion to EUR 14.4 billion (+16%), mainly through mortgage origination of Centraal Beheer (EUR 2.0 billion)
  • The growth of the balance sheet and profitability underscores Achmea Bank’s growth and diversification strategy as part of Achmea’s retirement services strategy


The operating profit before taxes increased by EUR 63 million to EUR 81 million in 2023 compared to 2022. This increase is the result of higher interest margin of EUR 86 million, a lower fair value result of EUR 15 million and higher operating expenses of EUR 10 million.

The interest margin strengthened in 2023, due to both an increase of our mortgage portfolio and higher margins on newly originated and repriced mortgages. The higher interest rates resulted in a shift of the mortgage market to shorter fixed-interest periods (<=10y) of which Achmea Bank benefits. In addition to the growth of our mortgage portfolio, the interest margin improved due to lower funding costs.

The mortgage origination under the brand Centraal Beheer remained stable at EUR 2.0 billion. Combined with the origination of new mortgages of external platforms (EUR 0.4 billion), acquired portfolio’s from a.s.r. (EUR 0.8 billion) and prepayments (EUR 1.2 billion), Achmea Bank’s mortgage portfolio increased by EUR 2.0 billion to EUR 14.4 billion. In line with its growth and diversification strategy, in 2023 Achmea Bank joined the DMFCO and a.s.r. mortgage platforms to invest EUR 1.5 billion respectively EUR 3.0 billion in mortgages in the next three years.

Furthermore, wealth accumulation for customers through savings and investments is an important pillar of the Bank’s strategy; in 2023 Achmea Bank added retail investments as a new proposition to its clients. On the back of higher interest rates the retail savings market became more attractive to customers. Achmea anticipated on this with an attractive pricing strategy, backed by our strong brand (Centraal Beheer), which resulted in a growth of our savings portfolio of EUR 1.4 billion (+19%).

Read the entire press release below:

Press release

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