Net interest income increased by 1% both quarter-on-quarter and year-on-year. The net interest margin for the quarter under review amounted to 2.08%, down 1 basis point on the previous quarter and up 4 basis points on the year-earlier quarter.
Operating expenses excluding bank and insurance taxes were up 6% and 3% on their level in the previous and the year-earlier quarters, respectively. The cost/income ratio for the first nine months of 2024 came to 47%, compared to 49% for full-year 2023.
The solvency position remained strong, with a fully loaded common equity ratio of 15.2% at the end of September 2024. The Group’s liquidity position remained very solid too, as illustrated by an LCR of 159% and NSFR of 142%. As already announced earlier, the Group, in line with its general dividend policy, will pay an interim dividend of EUR 1 per share on 14 November 2024 as an advance on the total dividend for financial year 2024.
“Our ultimate aim is to be the reference bank-insurer in all our core markets. This ambition is fueled by our customer-centric business model and, most importantly, by the trust our customers, employees, shareholders, and other stakeholders place in us. We appreciate and are deeply grateful for this continued trust”, says Johan Thijs, Chief Executive Officer.
The full report can be found here.
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