Achmea Bank reports an operating profit before taxes of EUR 47 million

• Operating profit before taxes increased to EUR 47 million (+19%)

• On balance mortgage portfolio grew to EUR 20 billion (+3%)

• Retail savings portfolio increased to EUR 11 billion (+10%)

• Achmea Bank’s capital ratio remained robust at 21.2% (year-end 2025: 20.7%).
  Following approval from the regulator, Achmea Bank started using the A-IRB model in capital calculations as of the first half of 2026

The operating profit before taxes increased to EUR 47 million for the first six months of 2026 (H1 2025: EUR 40 million). The increase is driven by a lower cost level (EUR +2m) and a better fair value result (EUR +5m).

The lower cost level is a result of lower operational and regulatory costs. The efficiency ratio for Achmea Bank improved to 62.5% in H1 2026 (year end 2025: 65.8%).

The fair value result of EUR -3 million in H1 2026 (H1 2025: EUR -8 million) is an accounting result related to derivatives for hedging the exposure to interest rate risk. This result is generally offset in other reporting periods, reflecting a pull to par as the derivatives approach maturity.

The on-balance mortgage portfolio grew to EUR 20 billion (year-end 2025: EUR 19 billion). The growth was realised through the origination of Centraal Beheer mortgages, mandates for the external mortgage platforms and the acquisition of a portfolio. As a result of a successful retail term deposit campaign, the retail savings portfolio increased to EUR 11 billion (year-end 2025: EUR 10 billion). Interest result increased slightly to EUR 107 million (H1 2025: EUR 106 million).

Achmea Bank services a growing mortgage portfolio (assets under management) of EUR 34 billion (year end 2025: EUR 33 billion) resulting in a net fee income of EUR 24 million (H1 2025: EUR 24 million).

The growth of the mortgage and retail savings portfolio of Achmea Bank and the service book for external clients increased the customer base on the Centraal Beheer platform to 638,000 (year-end 2025: 622,000), thereby demonstrating the joint growth of Achmea Bank and Centraal Beheer.

The number of defaults in the mortgage portfolio remained very low, in line with its inherently low credit risk profile.

Achmea Bank’s capital ratio remained robust at 21.2% (year-end 2025: 20.7%). During the first half of 2026, Achmea Bank received DNB approval to use the A-IRB model for regulatory capital calculations, supporting a further strengthening of its capital position. This positive effect was partly offset by continued growth of the mortgage portfolio, a strong pipeline of mortgage applications, the impact of more stringent regulatory requirements and the capital distribution.

In 2026 Achmea Bank distributed dividend and capital of EUR 79.2 million to its shareholder Achmea B.V., consisting of net distributable profit 2025 and released reserves.

On 30 June 2026, Achmea Bank has issued EUR 500 million in Covered Bonds under its EUR 10 billion Soft Bullet Covered Bond Program.

S&P confirmed Achmea Bank’s Issuer Credit Rating Outlook per 13 July 2026 of A-/stable, and Fitch confirmed its issuer Default Rating of A/Stable per 10 July 2026.

Achmea Bank is part of Achmea's Retirement Services strategy, which aims to enhance the financial health and selfreliance of every individual across the Netherlands, by allowing customers to generate income for today and tomorrow through our Centraal Beheer financial services platform. This strategy is aligned with Achmea's purpose of "Sustainable Living Together”.