Key Facts

◾ Aaa / AAA / AAA (stable / stable / stable)
◾ Leading lender to the Dutch public sector
◾ 100% Dutch government owned
◾ Long term funding programme: ± EUR 17 bn





BNG Bank is a committed partner for a more sustainable society. We enable the Dutch public sector to achieve socially relevant objectives. 

Half of the bank's share capital is held by the Dutch State and the other half by municipalities, provinces and a district water board. Our clients are local authorities, housing associations and healthcare and educational institutions. 

We provide customised financial services, ranging from loans and advances, payment services and electronic banking. BNG Bank also participates in public-private partnerships. 

By far the greatest part of the bank's lending is free of credit risk because these loans are granted to or guaranteed by public authorities. BNG Bank's specialised financial services help to minimize the cost of social provisions to the public. In this regard, the bank plays an essential role in the public sector.

Asset quality

The financial relationship between the central and local government in the Netherlands is structured in such a way, that the credit quality of the local government is extremely high. Loans to housing associations and healthcare institutions are secured by guarantee funds that are ultimately backed by the Dutch government. As a result over 90% of all loans and advances are 0% risk weighted.

Long term lending portfolio as of 30 june 2019


Key figures

​2018 ​2017 ​2016
​Total assets (EUR bn) ​137.5​140.0​154.0
​Leverage ratio ​3.8%​3.5%​3.0%
​Tier 1 ratio​38.2%​36.6%​32%
​Profit before tax (EUR m)​459​535​503
​Net profit after tax (EUR m)​337​393​369
​Net interest margin0.32%​​0.31%​0.26%
​Cost to income ratio​13.2%​11.3%​11.3%
​RoE (after tax)​8.5%​10.8%​11.5%


Moody’s ​S&P ​Fitch
​Long term debt ratingsAaa​AAAAAA
​Short term debt ratingsP-1A-1+F1+

Long term funding programme 2020

​Size​± EUR 17 bn
​Benchmarks in EUR and USD (144A)​Minimum size of 1 bn
​Tenors​2 to 20 years
​Regular presence in other currencies             
​GBP, CHF, JPY, AUD (Kangaroo), NZD (Kauri), CAD (Maple), NOK, SEK
​Private Placements
​Sustainability Bonds


​Debt Issuance Programme EUR 100 bn (passported into 15 European countries)
Kangaroo/Kauri Programme AUD 10 bn
Japanese Shelf Registration JPY 500 bn
Japanese loan / Schuldschein / Namensschuldverschreibung
ECP Programme EUR 20 bn
USCP Programme USD 15 bn
​Repo eligible with​ECB, FED NY, SNB, RBA and RBNZ
​LCR HQLA​EU level 1, Switzerland level 2a
​PSPP ECB​Eligible

EUR benchmark curve

​2,050,000,000​0.500%​2015​26 Aug 22
​2,450,000,000​0.250%​2016​22 Feb 23
​2,100,000,000​0.050%​2018​11 Jul 23
​1,650,000,0000.250%​​201710 Jan 24​
1,250,000,000​1.125%​2014​04 Sep 24
​1,750,000,000​0.500%​2018​16 Apr 25
1,500,000,000​0.250%​2015​07 May 25
2,000,000,000​1.000%​2016​12 Jan 26
​1,750,000,000​0.625%​2017​19 Jun 27
​1,300,000,000​0.750%​2018​11 Jan 28
​2,600,000,000​0.750%​2019​24 Jan 29
​2,000,000,000​0.100%​2020​15 Jan 30
​1,150,000,000​1.375%​2015​21 Oct 30
​1,065,000,000​0.875%​2019​17 Oct 35
​1,425,000,000​0.875%​2016​24 Oct 36
​920,000,000​1.500%​2017​29 Mar 38
​750,000,000​1.500%​2018​15 Jul 39

USD benchmark curve

​1,500,000,000​2.625%​2019​15 Jan 21
​1,500,000,000​2.500%​2018​16 Feb 21
​1,500,000,0001.625%​​201619 Apr 21​
​1,750,000,000​2.375%​2017​01 Feb 22
​3,000,000,000​1.500%​2019​06 Sep 22
​1,500,000,000​2.500%​201323 jan 23​
​2,500,000,000​3.000%​2018​20 Sep 23
​1,500,000,000​2.625%​2018​27 Feb 24
1,000,000,000​2.375%​2016​16 Mar 26

Sustainability bond FOR MUNICIPALITIES

​EUR 650,000,000​0.125%​2015​03 Nov 20
​EUR 750,000,000​0.200%​2017​09 Nov 24
​AUD 400,000,000​1.900%​2019​26 Nov 25
​EUR 750,000,000​0.500%​2018​26 Nov 25
​EUR 750,000,000​0.050%​2019​20 Nov 29


​USD 500,000,000​3.125%​2018​08 Nov 2021
​USD 750.000.000​2.125%​2017​14 Dec 2020
​EUR 1,000,000,000​0.050%​2016​13 Jul 2024
​USD 1,000,000,000​1.500%​2019​16 Oct 2024

Long term funding 2019

In 2019 BNG Bank has issued EUR 17.5 billion equivalent with an average maturity of 7.5 years. 
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