Investor Presentaiton
Continued strong NII development
Net interest income (in € mln)
Lending and deposit margin (in bps)
Net interest margin (in bps)
3,545 4,012 4,061
135
3,465
76
3,332
71
129
127
128
129
159
156
121
114
137
3,389
3,860
3,604
4,012 4,061
135
136
94
145
140
136
134
71
128
52
-343 -315
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023
Polish mortgage moratorium
Net TLTRO impact
-Average lending margin.
―Average deposit margin
-NIM
NII
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023
-4-quarter rolling average NIM
NII, excluding the impact from TLTRO, increased 19.8% YoY, primarily driven by a strong increase of the interest margins on liabilities.
NII from mortgages decreased slightly, as higher volumes and margins in Germany and the Netherlands were more than offset by
lower income in Belgium and Retail Other. Treasury benefited from favourable market opportunities through money market and FX
transactions¹). NII in Financial Markets declined as rising rates led to higher funding costs, while other income rose significantly
Sequentially, NII increased 1.2%. Higher net interest income on liabilities more than compensated for a decline in net interest income
in Financial Markets and from FX ratio hedging
NIM decreased by 3 bps to 156 bps, as the increase in NII was more than offset by a higher average balance sheet total
1)
Impact on NII 1Q2023 €-234 mln, 2Q2023 €-225 mln; Impact on Other Income 1Q2023 €+267 mln, 2Q2023 €+261 mln; negligible impact in 2Q2022
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