Strengths:
• Its 50% ownership by the State of The Netherlands.
• Leading lender to Dutch public authorities, supporting very strong asset
quality.
• Very strong capital base.
• Low cost base and good efficiency.
Counterparty Credit Rating
AAA/Stable/A-1+
Weaknesses:
• Relatively limited diversification of income sources, with high reliance on interest income.
• Only moderate capital generation due to low lending margins.