Nationale-Nederlanden Bank (‘NN Bank’) is a Dutch retail bank, founded on 26 April 2011. It is a fully owned subsidiary of NN Group, and its broad range of banking products is complementary to Nationale-Nederlanden’s individual life and non-life insurance products for retail customers in the Netherlands.
NN Bank’s purpose is to help people care for what matters most to them. The bank serves more than one million customers in the Dutch market, helping them manage and protect their assets and income through mortgage loans, (internet) savings, bank annuities, consumer lending and retail investment products. In addition, it is an important supplier of mortgages as an asset class for NN Group's insurance subsidiaries and provides administration and management services to other NN Group entities and institutional investors.
NN Bank has experienced tremendous growth since 2011 and now accounts for 8% of NN Group's operating result (FY20) and is a Top 5 retail bank in the Netherlands. NN Bank continuously improves its services, to become more efficient, more innovative and more personal and relevant.
To fund its activities, NN Bank aims to have access to diversified funding sources, in terms of investors, markets and maturities. NN Bank has a Covered Bond programme and an RMBS programme for its secured funding activities, as well as a Debt Issuance Programme for its unsecured funding. In addition, Standard & Poor’s has awarded NN Bank a credit rating.