Established in 1817, SNS Bank was the first savings bank in the Netherlands. "SNS" stands for Samenwerkende Nederlandse Spaarbanken (eng: "Co-operating Dutch Savings banks"). The bank is focused on providing savings, mortgage and payment products to domestic companies and indiviuals.
de Volksbank N.V. is the 4th largest bank in the Netherlands in terms of total assets. In 2015 its total assets were 62 690,00 mln EUR. In 2015 the bank's net income was 348,00 mln EUR.
de Volksbank N.V. is rated by Fitch, Moody's, Standard & Poor's. Long-term credit rating assigned to the bank by Fitch is BBB+ (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa1 (lower medium grade). Long-term credit rating assigned to the bank by Standard & Poor's is BBB (adequate capacity to meet its financial commitments). de Volksbank N.V. participates in deposit guarantee scheme of the Netherlands. This scheme covers accounts up to 100 000 EUR per bank per depositor.
de Volksbank N.V. is headquartered in Utrecht.
Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Current accounts are often offered with a payment card (a debit card and/or a credit card) and may also include overdraft possibility. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account.
Current accounts made with de Volksbank N.V. are covered by deposit guarantee scheme of the Netherlands up to 100 000 EUR per depositor. The following current accounts are offered by de Volksbank N.V.:
|Product||Account Currency||Annual Costs (EUR)||Overdraft Rate (p.a.)||Debit Card||Credit Card|
|EUR||30.00||11.00 %||View Details||Open Account|
Current Account Details
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
Time deposit accounts made with de Volksbank N.V. are covered by deposit guarantee scheme of the Netherlands up to 100 000 EUR per depositor. de Volksbank N.V. offers the following time deposit accounts:
|Product||Account Currency||Interest Rate (p.a.)||Deposit Term (months)|
|EUR||0.90 %||12||Open Account|
|EUR||1.05 %||24||Open Account|
|EUR||1.40 %||36||Open Account|
|EUR||1.70 %||48||Open Account|
|EUR||2.00 %||60||Open Account|
|EUR||2.25 %||72||Open Account|
|EUR||2.50 %||84||Open Account|
|EUR||3.30 %||120||Open Account|
|Total Assets (2015)|
|62 690.00 mln EUR (-8.02%)|
|Total Equity (2015)|
|3 302.00 mln EUR (+11.44%)|
In 2015 total assets of de Volksbank N.V. were 62 690.00 mln EUR. Decline compared to the previous period (2014) was -8.02%. The evolution of the total assets of de Volksbank N.V. is shown at Chart 1 below.
|Net Income (2015)|
|348.00 mln EUR (+130.46%)|
Recent changes in gross profit of de Volksbank N.V. and its main components are shown in Table 1.
|Interest Income||2 081.0||1 888.0||-9.27%|
|Interest Charges||-1 057.0||-894.0||-15.42%|
|Net Interest Income||1 024.0||1 888.0||+84.38%|
|Net Commission Income||44.0||48.0||+9.09%|
|Net Income from Trading Operations||3.0|
|Table 1. Recent changes in gross profit of de Volksbank N.V. (mln EUR).|
In 2015 net income of de Volksbank N.V. was 348.00 mln EUR. Growth compared to the previous period (2014) was 130.46%. The evolution of the net income of de Volksbank N.V. is shown at Chart 2 below.
|BBB+ (good credit quality)||Baa1 (lower medium grade)||BBB (adequate capacity to meet its financial commitments)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.Of the 'Big Three' rating agencies, de Volksbank N.V. is rated by Fitch and Standard & Poor's.
Credit ratings assigned to de Volksbank N.V. as of April 2016 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for de Volksbank N.V. it is set to BBB+ (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for de Volksbank N.V. is set to F2 (good short-term credit quality).
|Long-Term Issuer Default Rating||BBB+|
|Short-Term Issuer Default Rating||F2|
|Support Rating Floor||NF|
Viability rating for de Volksbank N.V. is set to bbb+ (good fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).
Long-term rating for de Volksbank N.V. it is set to Baa1 (lower medium grade). Long-term bank deposit rating is Baa1 (lower medium grade). Bank financial strength rating is baa3. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Baa1|
|Bank Financial Strength Rating||baa3|
Outlook for the ratings of de Volksbank N.V. is set to stable (not likely to change).
Long-term foreign currency rating for de Volksbank N.V. is set to BBB (adequate capacity to meet its financial commitments). Long-term local currency rating is set to BBB (adequate capacity to meet its financial commitments).
|Long-Term Foreign Currency Rating||BBB|
|Long-Term Local Currency Rating||BBB|
|Short-Term Foreign Currency Rating||A-2|
|Short-Term Local Currency Rating||A-2|
Short-term foreign currency rating for de Volksbank N.V. is set to A-2 (satisfactory capacity to meet its financial commitments). Short-term local currency rating is set to A-2 (satisfactory capacity to meet its financial commitments).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in the Netherlands are obliged to participate in the Netherlands' deposit guarantee scheme.
In the case of de Volksbank N.V. failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||private individuals, small companies|
|Covered Accounts||nearly every payment or savings account, current account or term deposit is covered|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of de Volksbank N.V. and its components are shown in the table below.
|Bank BIC Code||SNSB|
|Country Code||NL (Netherlands)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of de Volksbank N.V. is shown in the table below.