Strong capitalization underpins its financial profile. Well-collateralized loan book and sound risk management capabilities. Long-standing sector expertise, particularly in its corporate banking activities. Niche corporate banking and mortgage franchises offer business flexibility but potentially also more pronounced credit cycles. Exposure to potentially volatile segments such as shipping, commercial real estate, and oil and gas. Business model is more sensitive to market confidence than larger universal banks in NIBC's key markets. Our stable outlook on Netherlands-based NIBC Bank N.V. (NIBC) reflects our expectation that the bank will maintain its niche strategic focus and robust capitalization, combined with a stable risk appetite and sound asset quality. We think the maintenance of strong capital ratios is important to the overall stability of the
