• Achmea Bank N.V. reports an operating profit before taxes of EUR 55 million for the first half-year 2024 (H1 2023: EUR 33 million)
• Achmea Bank's mortgage and savings portfolios each increased with EUR 0.9 billion (+6% respectively +11%) in the first half-year of 2024
• The capital position remains solid with a Common Equity Tier 1 ratio of 18.4% (December 2023: 16.9%)

Due to our continuous strategic focus on growth and diversification of our portfolio as well as economies of scale, Achmea Bank's operational result increased to EUR 55 million in the first half of 2024 (H1 2023: EUR 33 million). This increase was mainly driven by a higher interest result of EUR 17 million next to a higher fair value result of EUR 9 million.

The growth of the mortgage and savings portfolio to EUR 15.2 billion (+6%) and EUR 9.6 billion (+11%), respectively, and increase of the interest margin, partly related to the ECB interest rate development, resulted in a higher interest result of Achmea Bank.

The mortgage portfolio of Achmea Bank continues to grow due to the customers demand for shorter fixed-rate interest periods on their mortgages. In the first half of 2024, Centraal Beheer mortgage production was EUR 0.7 billion (H1 2023: EUR 1.1 billion). Apart from mortgage origination through Centraal Beheer, Achmea Bank acquired EUR 0.9 billion of mortgages through investment mandates with external mortgage platforms.

Centraal Beheer's attractive pricing position for savings resulted in a growth of EUR 0.9 billion of the retail savings portfolio of Achmea Bank in the first half of 2024, of which EUR 0.7 billion relates to deposits with agreed maturities.


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Press release