Arab Today, arab today dutch economic growth lifts rabobank first half profit
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

Dutch economic growth lifts Rabobank first half profit

Arab Today, arab today

Arab Today, arab today Dutch economic growth lifts Rabobank first half profit

Rabobank
The Hague - AFP

Dutch lender Rabobank reported a 41-percent rise in first half profits, fuelled by the country's resumed economic growth and lower provisions for bad loans.

"The recovery in the Dutch economy contributed to a sharp fall in loan impairment charges at the local Rabobanks and at real estate subsidiary FGH Bank," the bank said in a statement.

It announced that net profits for the first six months of 2015 increased to 1.52 billion euros ($1.7 billion) -- a rise of 41 percent compared to the same period last year.

The second-largest Dutch bank behind ING said impairment charges set aside for bad loans decreased by 70 percent to 356 million compared to the first half of 2014.

In the previous period, Rabobank had been required to pay 214 million euros to the government to help finance the 2013 nationalisation of stricken lender SNS Reaal.

Rabobank also said its tier one solvency ratio remained even at 13.2 percent, though its capital ratio increased to 21.5 percent compared to 20.8 percent at the start of the year.

The bank credited resumed growth in the Netherlands, which the national statistics agency last week pegged at 1.6 percent for the year, "practically the same level it was before the (financial) crisis exploded in the second half of 2008."

"The Dutch economy is steadily recovering. Our customers are feeling this and we can observe this in the sharp decline in loan impairment charges," said Rabobank executive board chairman Wiebe Draijer.

However, Draijer noted the improving economy had not yet kick-started spending by businesses that would further improve the bank's bottom line.

"(The recovery) has not yet led to a marked growth in business investment. As a consequence, lending edged down slightly in the Netherlands. In our international markets the loan portfolio increased, partly due to the depreciation of the euro," he said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dutch economic growth lifts rabobank first half profit Arab Today, arab today dutch economic growth lifts rabobank first half profit

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dutch economic growth lifts rabobank first half profit Arab Today, arab today dutch economic growth lifts rabobank first half profit

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday