Achmea Bank

Achmea Bank N.V. joins the Partnership for Carbon Accounting Financials (PCAF) and started using the PCAF methodology to calculate the carbon footprint of her mortgage portfolio.

The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions financed by loans and investments. With more than 100 banks and investors from five continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.

Achmea Bank published Greenhouse Gas Emissions Report 2020
Addressing the urgent challenge of climate change, and decarbonizing our economy, is more pressing now than ever. Banks can facilitate the energy transition. That is why we have committed ourselves to the Paris Climate Agreement to reduce, measure and disclose the greenhouse gas (GHG) emissions associated with our mortgage portfolio. Standardized disclosure methodologies create transparency and accountability. We have published our second Greenhouse Gas Emissions Report. This report can be downloaded from our website. 

Pierre Huurman, chairman of Achmea Bank’s Executive Board: “We believe we can make a positive impact by helping our customers to make their homes more energy efficient. Therefore we proactively inform our customers about the options to make their homes more sustainable. Our brands Centraal Beheer and Woonfonds offer a variety of solutions and also the option to finance them as part of the mortgage. To align our portfolio with the goals of the Paris Climate Agreement our goal is that our mortgage portfolio has an average energy label A in 2030”.

About the Partnership for Carbon Accounting Financials (PCAF).
In September 2019, the Partnership for Carbon Accounting Financials (PCAF) was launched globally. Currently, more than 100 banks and investors have subscribed to the PCAF initiative. PCAF participants work together to jointly develop The Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse emissions of their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For more information see carbonaccountingfinancials.com/

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Het contract met fintech Bittiq is in lijn met de strategie van Achmea Bank om naast spaar- en hypotheekproducten ook nieuwe diensten te ontwikkelen in samenwerking met partners.

Achmea Bank beschikt over een vergunning waarmee PSD2- diensten kunnen worden aangeboden. In 2019 trad de Europese wet PSD2* in werking. Deze wet biedt klanten de mogelijkheid om naast de services van hun eigen bank, ook gebruik te maken van diensten van andere partijen, zoals Bittiq. De klant kan zijn bank opdracht geven om zijn betaalgegevens te delen met andere bedrijven die met nieuwe technologie inzichten geven in de huidige en toekomstige financiële situatie van de klant. 

Pierre Huurman, divisievoorzitter van Achmea Bank:
“Met Bittiq als nieuwe partner breiden wij onze dienstverlening uit met PSD2-diensten. We willen dat klanten zich zekerder voelen in het leven door inzicht te geven in hun financiële situatie en oplossingen te bieden. De PSD2-toepassingen die Bittiq levert, dragen hieraan bij. Samen met Centraal Beheer bouwen we nu aan nieuwe oplossingen voor onze klanten. In de toekomst zie ik ook mogelijkheden voor andere Achmea-onderdelen die gebruik willen maken van de PSD2-technologie.”

Hidde Koning, CEO van Bittiq:
“We zijn trots dat Achmea Bank voor haar PSD2-diensten voor een partnership met Bittiq heeft gekozen. Hiermee breiden we ons platform uit met een toonaangevende financiële instelling. Met haar sterke marktpositie en brede product- en dienstenaanbod kan Achmea maximaal van de mogelijkheden van onze technologie profiteren. We kijken ernaar uit om samen met Achmea Bank haar ambities en klantsucces te realiseren.” 

Over Bittiq
Bittiq is een fintech bedrijf en levert een innovatief data-analyse platform dat gebouwd is op PSD2-technologie. Bedrijven kunnen het platform integreren in hun digitale kanalen en klanten nieuwe diensten aanbieden op basis van inzicht in transactiedata. De modules van Bittiq zijn configureerbaar om relevante inzichten en unieke proposities mogelijk te maken voor instellingen als kredietverstrekkers, verzekeraars en banken. bittiq.com

*PSD2 is de Engelse afkorting van de herziene versie van de Europese wet voor het betalingsverkeer van Consumenten en Bedrijven (Payment Services Directive II)

• Achmea Bank N.V. reported for 2020 an operating profit of
   EUR 37 million, EUR 28 million after tax (2019: EUR 50
   million, after tax EUR 37 million)
• The Common Equity Tier 1 Capital Ratio remains strong at
   20.4% (2019: 19.2%)
• Achmea Bank further executed its ambition to grow in
   mortgages, through the acquisition of a portfolio of Dutch
   residential mortgages from BinckBank of EUR 0.5 billion
• Achmea Bank combined its mortgage activities with Syntrus
   Achmea Real Estate & Finance to focus on growth in
   mortgages
• The Bank positions itself to become a data driven
   connected bank optimizing its asset base to support the
   Achmea strategy

Achmea Bank reported a profit before tax of EUR 37 million in 2020 (2019 EUR 50 million). The 2019 result included an one-off accounting result of EUR 18 million related to the a.s.r. transaction. The operating result for 2020, excluding one-off results and fair value result, increased from EUR 34 million in 2019 to EUR 42 million in 2020. The increase in operating result is mainly due to a higher interest margin of EUR 16 million. Impairment charges amounted EUR 3 million (2019 EUR +4 million).

2020 was dominated by the Covid-19 crisis. This crisis affects the social and economic living environment and thereby also our customers. Since March 2020, Achmea Bank offered the possibility of a payment holiday to mortgage customers with payment difficulties directly related to the Covid-19 crisis. During 2020 we were able to help almost 430 mortgage customers of Achmea Bank (0.5% of the total). With this payment holiday customers temporarily do not have to pay interest and principal on their mortgage loan. By deferring the mortgage payments, it is more likely that customers will not get into liquidity problems and can keep affording their homes. This is one of the solutions that Achmea Bank offered to its mortgage customers. The impact of Covid-19 on the loan loss provision is an increase of EUR 3 million, mainly caused by the update of the macro economic developments.

In 2020, Achmea Bank acquired a portfolio of Dutch residential mortgages from BinckBank, part of the Saxo Bank Group, with a size of EUR 0.5 billion. In 2020 the origination of new mortgages decreased with EUR 0.2 billion to EUR 1.6 billion, of which EUR 0.9 billion for Achmea Pensioen- en Levensverzekeringen N.V. (2019 EUR 1.0 billion). Combined with the acquired portfolio and prepayments of EUR 1.7 billion (2019 EUR 1.2 billion), the regular mortgage portfolio of Achmea Bank decreased from EUR 12.1 billion to EUR 11.6 billion by the end of 2020. Total assets under management, including mortgages originated for Achmea Pensioen- en Levensverzekeringen N.V. of Achmea Bank increased to EUR 14.3 billion.

In October 2020, Achmea Bank joined the Achmea Mortgages Investment Platform of Syntrus Achmea Real Estate & Finance. This platform is a separate account for mortgages which allows institutional investors to build their own Dutch residential mortgage portfolio with the risk and duration profile they desire. These mortgages are marketed under the Centraal Beheer brand. Achmea Bank is one of the first investors in this platform. The introduction of the Achmea Mortgages Investment Platform is another step forward for Achmea in the process of combining its mortgage activities. As of 1 October 2020, Achmea's operational mortgage activities have largely been placed within Syntrus Achmea. By joining forces of its mortgage activities and the introduction of the Achmea Mortgages Investment Platform, Achmea aims to increase its market share in the mortgage market in the coming years.

The savings portfolio remained stable at EUR 7.2 billion (2019 EUR 7.2 billion). In 2020 Achmea Bank redeemed EUR 0.9 billion RMBS notes and issued a 5Y conditional pass-through covered bond of EUR 0.5 billion. The Bank has a diversified funding mix, comprising retail funding as well as unsecured and secured wholesale funding. At year-end 2020, Achmea Bank has drawn EUR 0.4 billion on the refinancing operations (PELTROs) offered by the European Central Bank. The Bank retained its sound liquidity position with liquidity ratios well above limits. In February 2021, the Bank announced that the Bank is preparing for an additional Soft bullet Covered Bond Programme to further diversify its funding mix.

The Total Capital ratio increased to 20.4% (2019: 19.2%). The Total Capital ratio increased, mainly due to the addition of the net result 2019 and decrease of the mortgage portfolio. Achmea Bank currently applies the standardized approach to calculate the risk weighting of its assets. Achmea Bank is working towards the implementation of Advanced Internal Rating Based (AIRB) models for their regular mortgage portfolio(s).

In line with the recommendation of The European Central Bank and the European Banking Authority concerning dividend pay-outs, not to distribute any dividends, Achmea Bank proposes to add the net result of 2020 to the other reserves. Achmea Bank intends to pay out a total dividend of EUR 56 million, which equals to the distributable net result over 2019 and 2020, as soon as it is in accordance with the ECB recommendation to make such payment.

In June 2020, Fitch confirmed the Issuer Default Rating of A/Stable (Fitch). Standard and Poor’s confirmed the Issuer Credit Rating Outlook per 30 October 2020 at A-/stable.

Press Release