NL Search About BNG Bank Financials Funding Lending Ratings Sustainability Table of contents Purpose Asset quality Long term lending portfolio as of 31 December 2020 Key figures Ratings Long term funding programme 2021 EUR benchmark curve USD benchmark curve Sustainability bond for municipalities Sustainability bond for social housing associations Long term funding 2020 BNG Bank - Funding - Capital Markets Key Facts Key Facts ◾ Aaa / AAA / AAA (stable / stable / stable) ◾ Leading lender to the Dutch public sector ◾ 100% Dutch government owned ◾ Long term funding programme: EUR ± 12.5 bn Purpose Everything we do revolves around making social impact. Instead of maximising profits, our priority is to maximise the social impact of our activities. BNG Bank – Driven by social impact We aim to be a natural partner for our clients by helping them addressing the social challenges they have to cope with. We want to be successful at delivering and demonstrating our social impact. Half of the bank's share capital is held by the Dutch State and the other half by municipalities, provinces and a district water board. Our clients are local authorities, housing associations and healthcare and educational institutions. We provide customised financial services, ranging from loans and advances, payment services and electronic banking. BNG Bank also participates in public-private partnerships. By far the greatest part of the bank's lending is free of credit risk because these loans are granted to or guaranteed by public authorities. BNG Bank's specialised financial services help to minimize the cost of social provisions to the public. In this regard, the bank plays an essential role in the public sector. Asset quality The financial relationship between the central and local government in the Netherlands is structured in such a way, that the credit quality of the local government is extremely high. Loans to housing associations and healthcare institutions are secured by guarantee funds that are ultimately backed by the Dutch government. As a result over 90% of all loans and advances are 0% risk weighted. Long term lending portfolio as of 31 December 2020 Key figures 2021 (1st half) 2020 2019 Total assets (EUR bn) 159.8 160.4 149.7 Leverage ratio 9.9% 3.5% 3.6% Tier 1 ratio 36.1% 39.4% 38.2% Profit before tax (EUR m) 258 332 227 Net profit after tax (EUR m) 187 221 163 Net interest margin 0.28% 0.30% 0.29% Cost to income ratio 16.0% 20.1% 16.0% RoE (after tax) 8.8% 5.2% 3.6% Ratings Moody’s S&P Fitch Long term debt ratings Aaa AAA AAA Outlook stable stable stable Short term debt ratings P-1 A-1+ F1+ Long term funding programme 2021 Size EUR ± 12.5 bn Benchmarks in EUR and USD (144A) Minimum size of 1 bn Tenors 2 to 20 years Presence in other currencies GBP, CHF, JPY, AUD (Kangaroo), NZD (Kauri), CAD (Maple), NOK, SEK Private Placements Sustainability Bonds Documentation Debt Issuance Programme EUR 100 bn (passported into 15 European countries) Kangaroo/Kauri Programme AUD 10 bn Japanese Shelf Registration JPY 500 bn Japanese loan / Schuldschein / Namensschuldverschreibung ECP Programme EUR 20 bn USCP Programme USD 15 bn Repo eligible with ECB, FED NY, SNB, RBA and RBNZ LCR HQLA EU level 1, Switzerland level 2a PSPP ECB Eligible EUR benchmark curve 2,050,000,000 0.500% 2015 26 Aug 22 2,550,000,000 0.250% 2016 22 Feb 23 2,100,000,000 0.050% 2018 11 Jul 23 1,900,000,000 0.250% 2017 10 Jan 24 1,400,000,000 1.125% 2014 04 Sep 24 1,500,000,000 0.050% 2020 02 Apr 25 1,750,000,000 0.500% 2018 16 Apr 25 1,600,000,000 0.250% 2015 07 May 25 2,000,000,000 1.000% 2016 12 Jan 26 1,750,000,000 0.625% 2017 19 Jun 27 1,400,000,000 0.750% 2018 11 Jan 28 1,750,000,000 0.000% 2021 31 Aug 28 2,920,000,000 0.750% 2019 24 Jan 29 2,490,000,000 0.100% 2020 15 Jan 30 1,425,000,000 1.375% 2015 21 Oct 30 2,000,000,000 0.000% 2021 20 Jan 31 2,275,000,000 0.125% 2020 09 Jul 35 1,510,000,000 0.875% 2019 17 Oct 35 1,785,000,000 0.875% 2016 24 Oct 36 960,000,000 1.500% 2017 29 Mar 38 775,000,000 1.500% 2018 15 Jul 39 950,000,000 0.805% 2019 28 Jun 49 USD benchmark curve 3,000,000,000 1.500% 2019 06 Sep 22 1,500,000,000 2.500% 2013 23 jan 23 2,000,000,000 0.750% 2020 17 Apr 23 2,500,000,000 3.000% 2018 20 Sep 23 1,500,000,000 2.625% 2018 27 Feb 24 1,000,000,000 2.375% 2016 16 Mar 26 2,000,000,000 0.875% 2021 18 May 26 500,000,000 SOFR 2021 05 Aug 26 1,250,000,000 1.000% 2020 03 Jun 30 Sustainability bond for municipalities EUR 750,000,000 0.200% 2017 09 Nov 24 USD 1,000,000,000 0.500% 2020 24 Nov 25 AUD 400,000,000 1.900% 2019 26 Nov 25 EUR 750,000,000 0.500% 2018 26 Nov 25 EUR 750,000,000 0.050% 2019 20 Nov 29 EUR 2,000,000,000 0.125% 2021 19 Apr 33 Sustainability bond for social housing associations EUR 1,000,000,000 0.050% 2016 13 Jul 2024 USD 1,000,000,000 1.500% 2019 16 Oct 2024 EUR 1,000,000,000 0.001% 2020 05 Oct 2032 EUR 1,500,000,000 0.250% 2021 22 Nov 2036 Long term funding 2020 In 2020 BNG Bank has issued EUR 15.1 billion equivalent with an average maturity of 8.9 years. 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