Bulletin: Ratings On NIBC Bank N.V. Unaffected By Material Reduction In Regulatory Capital Ratio

LONDON (S&P Global Ratings) Feb. 8, 2018--S&P Global Ratings said today that its ratings and outlook on NIBC Bank N.V. (NIBC; BBB/Stable/A-2) are unaffected by the announcement of a meaningful reduction of its regulatory Common Equity Tier 1 (CET1) ratio, down by 4.0% as of Jan. 1, 2018. This follows positive momentum in 2017; NIBC Holding N.V., the bank's holding company, reported a high CET1 ratio of 19.3% on Dec. 31, 2017, up from 15.1% a year earlier. In our view, the group will remain comfortably above its minimum regulatory capital requirements, supported by the issuance of a €200 million Additional Tier 1 (AT1) capital instrument in September 2017. NIBC has reclassified its historical mortgage portfolio to amortized cost from

...LONDON (S&P Global Ratings) Feb. 8, 2018--S&P Global Ratings said today that its ratings and outlook on NIBC Bank N.V. (NIBC; ###/Stable/A-2) are unaffected by the announcement of a meaningful reduction of its regulatory Common Equity Tier 1 (CET1) ratio, down by 4.0% as of Jan. 1, 2018. This follows positive momentum in 2017; NIBC Holding N.V., the bank's holding company, reported a high CET1 ratio of 19.3% on Dec. 31, 2017, up from 15.1% a year earlier. In our view, the group will remain comfortably above its minimum regulatory capital requirements, supported by the issuance of a 200 million Additional Tier 1 (AT1) capital instrument in September 2017. NIBC has reclassified its historical mortgage portfolio to amortized cost from fair value through profit or loss, and implemented expected credit loss requirements, under International Financial Reporting Standards (IFRS) 9. The material effect of these actions is in line with the company's previous communication; the mortgage reclassification...

Bulletin