State-owned Dutch bank SNS lifts full-year profit 12 pct

April 2, 2015 6:09 AM

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AMSTERDAM, April 2 (Reuters) - SNS Bank, owned by the Dutch state, reported 2014 net profit excluding one-off items up nearly 12 percent to 294 million euros ($317 million) thanks to higher interest income and fewer loan impairments.

SNS is part of the bank and insurance group SNS Reaal NV, which was nationalised at a cost of 3.7 billion euros in 2013 as insolvency loomed after heavy losses on its real estate portfolio.

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