Bank Nederlandse Gemeenten
Encyclopedia
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 Nederlandse 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
.
rated Bank Nederlandse Gemeenten, the 3rd safest bank in the world in its "World’s 50 Safest Banks 2011" 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.
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
bank and Local Government Funding Agency
Local Government Funding Agency
A Local Government Funding Agency is financial institution that serves as a vehicle for local and regional authorities such as municipalities, county councils and regions to access capital markets for the purpose of jointly procuring credit for public investment projects. The local and/or regional...
, 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
Kingdom of the Netherlands
The Kingdom of the Netherlands is a sovereign state and constitutional monarchy with territory in Western Europe and in the Caribbean. The four parts of the Kingdom—Aruba, Curaçao, the Netherlands, and Sint Maarten—are referred to as "countries", and participate on a basis of equality...
owns 50% of the company, while the remainder is owned by the municipalities
Municipalities of the Netherlands
|All provinces of the Netherlands are divided into municipalities , together 418 , excl. the 3 "special municipalities" of the Caribbean Netherlands.Among the municipalities we can distinguish:...
and provinces
Provinces of the Netherlands
A Dutch province represents the administrative layer in between the national government and the local municipalities, having the responsibility for matters of subnational or regional importance. The government of each province consists of three major parts: the Provinciale Staten which is the...
.
The company was founded in 1914 in The Hague
The Hague
The Hague is the capital city of the province of South Holland in the Netherlands. With a population of 500,000 inhabitants , it is the third largest city of the Netherlands, after Amsterdam and Rotterdam...
as the Gemeentelijke Credietbank (Municipal Credit Bureau), changed its name to Bank voor Nederlandse 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
Municipalities of the Netherlands
|All provinces of the Netherlands are divided into municipalities , together 418 , excl. the 3 "special municipalities" of the Caribbean Netherlands.Among the municipalities we can distinguish:...
, provinces
Provinces of the Netherlands
A Dutch province represents the administrative layer in between the national government and the local municipalities, having the responsibility for matters of subnational or regional importance. The government of each province consists of three major parts: the Provinciale Staten which is the...
, public utilities and public housing
Public housing
Public housing is a form of housing tenure in which the property is owned by a government authority, which may be central or local. Social housing is an umbrella term referring to rental housing which may be owned and managed by the state, by non-profit organizations, or by a combination of the...
.
Awards
The magazine Global FinanceGlobal Finance (magazine)
Global Finance is an English-language monthly financial magazine.Joseph D. Giarraputo, the founder and former publisher of Venture, the magazine for entrepreneurs, in 1987 joined forces with Carl G. Burgen, Stephan Spahn, H. Allen Fernald, and Paolo Panerai to start a magazine on financial...
rated Bank Nederlandse Gemeenten, the 3rd safest bank in the world in its "World’s 50 Safest Banks 2011" rating. The rating is based on long-term foreign currency ratings from Fitch Ratings
Fitch Ratings
The Fitch Group is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings, Fitch Solutions and Algorithmics, are part of the Fitch Group....
and Standard and Poor’s and the long-term bank deposit ratings from Moody’s Investors Service.
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)