SNS Bank NV

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.

SNS Bank NV 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.

SNS Bank NV 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). SNS Bank NV participates in deposit guarantee scheme of the Netherlands. This scheme covers accounts up to 100 000 EUR per bank per depositor.

SNS Bank NV is headquartered in Utrecht.

Contacts 
    Address  Croeselaan 1, 3503 RA, Utrecht, Netherlands
    P.O. Box  8000
    Website  http://www.snsbank.nl/
Business Description 
    Products  current accounts
time deposit accounts (0.90 - 3.30 %)
Financial Positions
    Total Assets (2015)  62 690.00 mln EUR ↓ (-8.02%)
    Total Equity (2015)  3 302.00 mln EUR ↑ (+11.44%)
Profit and Loss
    Net Income (2015)  348.00 mln EUR ↑ (+130.46%)
Market Position and Market Share (among banks in the Netherlands)
    Total Assets (2015)  4th
Credit Ratings (as of Apr 2016)
    Fitch  BBB+ (good credit quality)
    Moody's  Baa1 (lower medium grade)
    S&P's  BBB (adequate capacity to meet its financial commitments)
Deposit Guarantee  Yes (up to 100 000 EUR per depositor)
Bank Identifiers
    BIC (SWIFT)  SNSBNL2A
    MFI ID  NL578

Products

Current Accounts

Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. 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. The following current account products are offered by SNS Bank NV:

ProductAccount CurrencyAnnual Costs (EUR)Debit CardCredit CardProduct Link
 Betalen [NL]EUR30.00View Product
 Betalen [NL]EUR45.75View Product
 Betalen [NL]EUR30.00View Product
 Betalen [NL]EUR45.75View Product

[NL] This product is offered to the Netherlands' residents only. When clicking on the product link you will be redirected to the product page in Dutch.

See Also: Current Accounts in the Netherlands

Time Deposit Accounts

Time deposits accounts offer higher interest rates than savings accounts, however the money deposited to such account cannot be withdrawn for a specified period of time (term). SNS Bank NV offers the following time deposit products:

ProductInterest Rate (p.a.)Account CurrencyDeposit Term (months)Product Link
 SNS Keuzedeposito [NL]0.90 %EUR12View Product
 SNS Keuzedeposito [NL]1.05 %EUR24View Product
 SNS Keuzedeposito [NL]1.40 %EUR36View Product
 SNS Keuzedeposito [NL]1.70 %EUR48View Product
 SNS Keuzedeposito [NL]2.00 %EUR60View Product
 SNS Keuzedeposito [NL]2.25 %EUR72View Product
 SNS Keuzedeposito [NL]2.50 %EUR84View Product
 SNS Keuzedeposito [NL]3.30 %EUR120View Product

[NL] This product is offered to the Netherlands' residents only. When clicking on the product link you will be redirected to the product page in Dutch.

See Also: Time Deposit Accounts in the Netherlands

Financial Positions

In 2015 total assets of SNS Bank NV were 62 690.00 mln EUR. Decline compared to the previous period (2014) was -8.02%. The evolution of the total assets of SNS Bank NV is shown at Chart 1 below.

Total Assets of SNS Bank NV.
Chart 1. Total Assets of SNS Bank NV.

Profit and Loss

Recent changes in gross profit of SNS Bank NV and its main components are shown in Table 1.

2014 2015 % change
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% ↑
Commission Income 95.0 103.0 +8.42% ↑
Commission Charges -51.0 -55.0 +7.84% ↑
Net Commission Income 44.0 48.0 +9.09% ↑
Net Income from Trading Operations 3.0
Table 1. Recent changes in gross profit of SNS Bank NV (mln EUR).

In 2015 net income of SNS Bank NV was 348.00 mln EUR. Growth compared to the previous period (2014) was 130.46%. The evolution of the net income of SNS Bank NV is shown at Chart 2 below.

Net Income of SNS Bank NV.
Chart 2. Net Income of SNS Bank NV.

Credit Ratings

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, SNS Bank NV is rated by Fitch and Standard & Poor's.

Credit ratings assigned to SNS Bank NV as of April 2016 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for SNS Bank NV 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 SNS Bank NV is set to F2 (good short-term credit quality).

Long-Term Issuer Default Rating  BBB+
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F2
Viability Rating  bbb+
Support Rating  5
Support Rating Floor  NF

Viability rating for SNS Bank NV 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).

Moody's

Long-term rating for SNS Bank NV 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 Rating  Baa1
Long-Term Bank Deposit Rating  Baa1
Bank Financial Strength Rating  baa3
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of SNS Bank NV is set to stable (not likely to change).

Standard & Poor's

Long-term foreign currency rating for SNS Bank NV 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
    Outlook  -
    Credit Watch  -
Long-Term Local Currency Rating  BBB
    Outlook  -
    Credit Watch  -
Short-Term Foreign Currency Rating  A-2
Short-Term Local Currency Rating  A-2

Short-term foreign currency rating for SNS Bank NV 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).

Deposit Guarantee

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 SNS Bank NV 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

Further Information: Deposit Guarantee Scheme in the Netherlands

ECB Minimum Reserves Requirements (MRR)

Minimum reserves is the minimum amount of reserves a credit institution is required to hold with a central bank.

Subject to MRR by ECB  Yes
Exempt from MRR by ECB  No

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

BIC

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 SNS Bank NV and its components are shown in the table below.

BIC  SNSBNL2A
Bank BIC Code  SNSB
Country Code  NL (Netherlands)
Location Code  2A
Branch Code  -

MFI ID

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 SNS Bank NV is shown in the table below.

MFI ID  NL578

Related Information on the Netherlands

  Economy and Banking Sector of the Netherlands

  List of Banks in the Netherlands

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