Economy of the Netherlands

Dutch retailer Ahold posts income bonanza

Agence France-PresseJune 4, 2013 16:29

Dutch retail giant Ahold on Tuesday posted a seven-fold jump in net income for the first quarter year-on-year, boosted by the mega sale of its stake in Swedish supermarket chain ICA earlier this year. Ahold posted 1.95 billion euros ($2.5 billion) in net earnings, as opposed to 285 million euros the same time last year, mainly resulting from selling its 60 percent stake in ICA to Stockholm-based Hakon Invest, the Amsterdam-based group said in a statement. Ahold announced the deal in February, saying Tuesday it raked in 1.75 billion euros as a result.

ING's first quarter earnings rise on asset sales; bank operations improve marginally

The Canadian PressMay 8, 2013 09:34

AMSTERDAM - Dutch financial company ING Groep NV reported Wednesday that its first-quarter earnings rose as it sold businesses and improved profit margins at its banking arm. Its insurance arm reported a loss. Net profit was 1.80 billion euros ($2.36 billion), compared with 728 million euros in the same period a year ago. This quarter's figure includes 940 million euros in net gains on divestments, mostly from the sale of its life insurance business in Asia.

ING cuts 2,400 more jobs as profits plunge

Agence France-PresseFebruary 13, 2013 09:00

Dutch banking and insurance group ING reported on Wednesday a 32.5-percent plunge in net profit last year and said that it intended to cut 2,400 jobs in its operations in the Netherlands and Belgium. The group reported a net profit for 2013 of 3.89 billion euros ($5.2 billion), a nearly one-third drop from the 2011 level. It said that the fall reflected restructuring costs, losses on the sale of high-risk assets and charges linked to products in the United States offering a guaranteed fixed income.

Netherlands nationalises bank SNS Reaal

Agence France-PresseFebruary 1, 2013 13:30

The Netherlands has nationalised banking and insurance group SNS Reaal at a cost of 3.7 billion euros ($5 billion), Finance Minister Jeroen Dijsselbloem said on Friday, averting a threat to the Dutch financial system. Prime Minister Mark Rutte later said the Dutch state's intervention was prompted by "huge blunders" made by SNS Reaal's top management costing the taxpayer huge amounts of money.

UPDATE 6-Dutch nationalise SNS Reaal bank group in $14 bln rescue

Thomson ReutersFebruary 1, 2013 13:00

* Nationalisation to cost an initial 3.7 bln euros * Seen pushing budget deficit further above target * SNS Reaal hit by soured property assets, management quits * Shareholder group says may challenge nationalisation (Adds prime minister's comment, rating agencies) By Thomas Escritt and Anthony Deutsch

New Eurogroup chief Dijsselbloem passes first test: analysts

Agence France-PresseFebruary 1, 2013 11:45

New Eurogroup chief and Dutch Finance Minister Jeroen Dijsselbloem passed his first test on Friday by saving his country's fourth-biggest bank, setting an example in Europe of how the banking crisis should be handled, analysts said. Dijsselbloem announced the state was to nationalise SNS Reaal at a cost of 3.7 billion euros ($5 billion) after a deadline to find an alternative solution to bail out the troubled banker expired late on Thursday.

New Eurogroup chief Dijsselbloem pass first test: analysts

Agence France-PresseFebruary 1, 2013 11:15

Dutch state nationalises SNS Reaal bank: minister

Agence France-PresseFebruary 1, 2013 06:30

The Dutch state has nationalised banking and insurance group SNS Reaal at a cost of 3.7 billion euros ($5 billion), Finance Minister Jeroen Dijsselbloem said on Friday, averting a threat to the Dutch financial system. "Today, SNS Reaal has been fully taken over by the Dutch state. I have nationalised SNS Reaal," Dijsselbloem told a press conference, after a deadline expired to find a solution for the distressed bank.