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Last update : September 2004
The business philosophy of ASN as a bank is set out in a mission statement, which reads: "The ASN Bank is an undertaking which aims to promote a sustainable society and is guided by that aim in its economic activities. Promoting a sustainable society is seen as contributing towards changes intended to put an end to processes whose adverse consequences are postponed until a future time, or passed on to the environment, nature or the poor. Economic activity refers to recognition of the need for achieving a return in the long term to safeguard the continuing, sound operation of the ASN Bank, and recognition of the need to manage the resources entrusted to the ASN Bank in a manner which does justice to the customer’s expectations in that respect."
Background & Aim
The ASN Bank was set up in 1960, and since that time has been the largest ethical bank in
the Netherlands.
The ASN Bank invests its money in accordance with clear principles, where sustainability and yield go hand in hand. For the ASN Bank, sustainability means a society where economic, ecological and social interests are well balanced. Our bank applies strict criteria to its capital spending and portfolio investment. For example, it does not invest in the weapons industry, the nuclear industry, and preferably not in alcohol and tobacco manufacturing. It also avoids companies which use animal testing, child labour and genetic modification (except where there is a proven medical need). It prefers to invest in companies which make a positive contribution to environmental improvement and human rights, and which apply a good social policy. The ASN Bank works closely with public organisations concerned with the third world, the environment and human rights. Customers have the opportunity to donate the interest on their savings directly to these good causes.
Structure and Activities
The ASN Bank is an independent bank belonging to the SNS Reaal Group. The group has
extensive experience in research on sustainability and sustainable asset management.
The ASN Bank is active in the field of sustainable investment, savings, loans and mortgages. The investment fund range comprises six funds: a bond fund, a mix fund, an equity fund, an environmental technology fund, a micro-credit fund aimed at the third world, and a green fund offering tax concessions.
The savings products are offered both in traditional ways and via the internet. Interest rates are in line with the market. The ASN Bank grants mortgages to consumers and specialises in green loans.
Future developments
The ASN Bank is continuing to expand its range of savings, investment and loan
products. The internet will become increasingly important as a distribution channel.
Key figures
(in millions euros) |
2003 | 2002 | 2001 |
2000 |
| portfolio investments and credits | 1 440.3 | 1 172.6 | 889.2 |
806.9 |
| funds entrusted | 1 445.0 | 1 218.5 | 967.3 |
849.9 |
| capital and reserves | 74.4 | 81.1 | 73.0 |
66.7 |
| balance sheet total | 1 553.8 | 1 327.9 | 1 063.6 |
944.0 |
| interest income | 56.3 | 50.0 | 51.7 |
45.2 |
| interest expense | 44.4 | 39.7 | 35.8 |
31.7 |
| interest margin | 11.9 | 10.3 | 15.9 |
13.5 |
| other income | 3.6 | 4.6 | 2.2 |
2.2 |
| total costs | 12.1 | 10.3 | 7.1 |
6.6 |
| operating result | 3.4 | 4.6 | 11.0 |
9.1 |
| net profit | 2.3 | 2.9 | 7.8 |
6.5 |
| number of savings accounts | 166 146 |
157 145 |
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| number of investment accounts | 43.616 |
33 276 |
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| total number of customers | 201 000 | 183 000 | 170 479 |
159 347 |
| investment funds net asset value | 490 |
417 |
