BNG Bank appoints Huub Arendse in Supervisory Board

Huub Arendse served as Chief Financial Officer and Executive Board member for the Dutch cooperative insurance group Achmea, amongst other things. Prior to that he was employed by KPMG, where he was responsible for the Financial Services activities. With the appointment of Huub Arendse, the Supervisory Board will have reached its desired size of seven members.

The General Meeting of Shareholders adopted the financial statements for the year 2018. New long-term loans granted in 2018 rose by EUR 2.1 billion to EUR 11.6 billion. The net profit for 2018 amounts to EUR 337 million. The General Meeting of Shareholders approved the proposal to raise the dividend pay out to 50% (2017: 37.5%).

The General Meeting of Shareholders also approved the proposal to amend the articles of association of the bank to a limited extent. In order to fully comply with the European Capital Requirements Regulation, the Executive Board has been given the competence for profit appropriation. The amended articles of association will be published on bngbank.com on 15 May 2019.