Aegon Bank Posts HY Profit

Aegon bank reported that its net profit for the first half year of 2021 was 26.6 million euros, compared to a loss of 18.5 million euros in the first half of 2020. The significant improvement was mainly due to lower impairment charges in the unsecured loan book, driven by repayments and prepayments.

Operating result before tax decreased to 15.3 million euros from 19.7 million euros in the previous year.

Net interest income declined to 108.61 million euros from 124.10 million euros in the prior year. But, Fee and commission income increased 24% year-over-year to 11.9 million euros.

During the first half year of 2021, the number of fee-paying customers of online bank Knab grew by 16,000 to a total of 301,000.

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