Achmea Bank reports an operating profit before taxes of EUR 76 million

• Operating profit before taxes of EUR 76 million (2024 EUR 92 million)

• Strong growth (+9%) on balance mortgage portfolio to EUR 19 billion

• The capital position remains strong with a Total Capital ratio of 20.7% as of 31 December 2025

The operating profit before taxes amounts to EUR 76 million in 2025 (2024: EUR 92 million). The operating profit decreased despite higher fees and commission income (EUR 35 million) through a lower interest result (EUR 15 million), a lower fair value result (EUR 10 million), higher operating expenses (EUR 28 million).

The interest result decreased to EUR 213 million (2024: EUR 228 million), despite the further growth of the mortgage portfolio and was negatively impacted by the tightening of the interest margin due to lower short-term interest rates. The on-balance mortgage portfolio grew to EUR 19.0 billion (year-end 2024: EUR 17.4 billion). This strong growth was realized with origination of Centraal Beheer mortgages, mandates for the external mortgage platforms and acquisition of a mortgage portfolio. The retail savings portfolio remained stable at EUR 10.0 billion (year-end 2024: EUR 10.1 billion). The growth of our mortgage portfolio increased the customer base of Centraal Beheer, thereby supporting and strengthening the growth ambitions of Achmea Bank and Centraal Beheer.

The negative fair value result of EUR 14 million in 2025 (2024: EUR 4 million negative) is a result related to derivatives for hedging interest rate risk. This result is compensated in other reporting periods, generally reflecting a pull to par as the derivatives approach maturity.

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

With the acquisition of Syntrus Achmea Hypotheekdiensten B.V. (as per October 2024), Achmea Bank services a growing mortgage portfolio of EUR 34 billion. This results in a reported fee income of EUR 48 million (2024: EUR 13 million) alongside higher operating expenses of EUR 28 million. The total related contribution to the operating result before taxes is EUR 5 million. The efficiency ratio for Achmea Bank is 65.8% in 2025 (2024: 59.7%). The increase is a result of the lower interest result and higher operating expenses mainly related to the acquisition of Syntrus Achmea Hypotheekdiensten in 2024 and regulatory costs.

In 2025 Achmea Bank distributed a total dividend of EUR 110 million to its shareholder Achmea B.V. Furthermore, Achmea Bank proposes to distribute a dividend of EUR 79.2 million in April 2026, consisting of net distributable profit 2025 and released reserves. Subsequent to the proposed dividend distribution, the Bank  will retain more than sufficient capital to support its ongoing operations and strategic objectives. Both distributions underscores confidence in the bank's strong financial position and does not impact its growth targets.

The Total Capital Ratio remains strong at 20.7% (31 December 2024: 19.1%). This increase is due to the implementation of the CRR III, partly reduced by growth mortgage portfolio and the dividend distribution.

S&P confirmed Achmea Bank’s Issuer Credit Rating Outlook per 8 October 2025 of A-/stable, and Fitch confirmed its issuer Default Rating of A/Stable per 27 August 2025.

Achmea Bank is proud to be part of Achmea's Retirement Services strategy, which aims to enhance the financial health and self-reliance 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”.