Thursday, November 15, 2012
Today, Thursday 15 November, SNS REAAL is hosting its sixth Investor Day for analysts and investors. In a series of presentations, Executive Board members will discuss strategy, as well as market and financial developments.
New cost savings target announced
In 2012, SNS REAAL expects to realise its current target of € 200 million cost savings compared to the 2008 level of € 1.2 billion. By the end of September 2012, adjusted operating costs have been reduced by € 208 million on an annualised basis.
SNS REAAL will strive for a further reduction of operating costs, by at least € 75 million compared to the 2012 adjusted cost base, to be achieved by year-end 2015. The cost reduction will entail a decline in the number of staff of approximately 750 FTE. The new cost savings target includes the implementation of the repositioning of SNS SME and the efficiency plans of SNS Retail Bank, as communicated in the third quarter trading update on 6 November 2012, as well as the impact of ongoing efficiency plans at the Insurance and Group activities.
The slides of all Investor Day presentations will be available on the website of SNS REAAL today from 08.30 CET.
WebcastThe Investor day can be followed via a live webcast on www.snsreaal.nl.
1. Update on strategy | Ronald Latenstein | 09.00 |
2. Property Finance run-off | Ference lamp | 09.45 |
3. Q&A | 10.45 | |
Coffee/tea break | 11.00 | |
4. Multi-brand strategy | Dick Okhuijsen | 11.15 |
5. Systems integration & cost reductions | Wim Henk Steenpoorte | 11.50 |
6. Summary | Ference Lamp | 12.30 |
7. Q&A | 12.45 | |
End of Investor Day | 13.00 |
For more information please contact
Jacob Bosscha
+31 (0)30 291 42 46
jacob.bosscha@snsreaal.nl
Victor Zijlema
+31 (0)30 291 46 74
victor.zijlema@snsreaal.nl
Jeroen de Graaf
+31 (0)30 291 48 73
corporatecommunicatie@snsreaal.nl
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