Bank Nederlandse Gemeenten
| Type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1914 |
| Headquarters | The Hague, Netherlands |
| Products | Financing for (semi-)public organisations |
| Revenue |
 €312 million (2006) |
| Operating income |
€255 million (2006) |
| Net income |
€199 million (2006) |
| Employees | 346 |
| Website | www.bng.nl |
The Bank Nederlandse Gemeenten (Dutch Municipal Bank, BNG) is a Dutch bank and Local Government Funding Agency, specializing in providing financing for (semi-)publicly owned organizations. Ranked by assets alone, it is ranked as the 4th bank in the Netherlands. The Dutch state owns 50% of the company, while the remainder is owned by the municipalities and provinces.
The company was founded in 1914 in The Hague as the Gemeentelijke Credietbank (Municipal Credit Bureau), changed its name to Bank voor Nederlandsche Gemeenten in 1922, before finally changing it to Bank Nederlandse Gemeenten in 1990s.
The BNG does not provide financing to private customers, but exclusively to (semi-)public organizations, such as municipalities, provinces, public utilities and public housing.
Awards
The magazine Global Finance rated Bank Nederlandse Gemeenten, the 2nd safest bank in the world in its "World’s 50 Safest Banks 2013" rating. The rating is based on long-term foreign currency ratings from Fitch Ratings and Standard and Poor’s and the long-term bank deposit ratings from Moody’s Investors Service.[1]
References
Further reading
- "Local councils invested in troubled banks," DutchNews.nl (12 October 2008)
- "Councils' Iceland money was borrowed," DutchNews.nl (17 October 2008)
- "Friesland Bank loses council customers," DutchNews.nl (28 August 2009)
- "Zeeland province fails to recover lost Lehman millions," DutchNews.nl (11 June 2010)
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