SNS Reaal narrows losses to €125m

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Dutch financial services group SNS Reaal reported losses of €125m for the first half of 2014 which were largely due to its insurance branch Vivat, while the SNS Retail bank recorded profits.

The SNS Retail bank reported a profit of €114m, while the insurance division recorded losses of €225m. Last year, SNS Reaal reported a loss of €1.6bn, mainly due to loan impairments of property finance as a result of nationalisation.

SNS Reaal has been nationalised by the Dutch state in 2013 and is currently in the process of selling its insurance activities.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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