AMSTERDAM Aug 28 SNS Reaal, the Dutch financial
services group nationalised last year, narrowed losses in the
first half of 2014 as it transforms into a stand-alone bank
under the terms of an emergency bailout.
The group posted a net loss of 125 million euros ($165
million), due mainly to provisions in its insurance operations,
it said in a statement on Thursday.
SNS Reaal lost 1.59 billion euros in the same period a year
earlier after losses in its property division.
The group has been focusing on separating its banking and
insurance activities. It is expected to sell its insurance
division in the coming year.
"We expect to take the final steps in this process in the
course of 2015. Furthermore, we have taken important steps in
preparing for the sale of the insurance activities," it said.
It did not provide details about the process, or comment on
media reports in recent days that Delta Lloyd, a smaller Dutch
insurer, is interested in acquiring the insurance operations.
Net profit at SNS Bank fell by nearly half in the six-month
period to 114 million euros from 218 million euros, it said.
(Reporting By Anthony Deutsch; editing by David Clarke)