Half-year results published this morning show Nordhaven Bank holding a Common Equity Tier 1 ratio of 19.4%, comfortably above both our internal floor of 15% and the regulatory minimum. Liquidity coverage stands at 187%.
We run the bank to be boring in the places that matter. Customer deposits are not lent into long-duration illiquid assets; 61% of the book sits in central bank reserves and short-dated sovereign paper. That is a deliberate cost we absorb so that access to your money never depends on market conditions.
Deposits grew 12% year on year, driven mainly by multi-currency business accounts in the Netherlands and Ireland. Net interest margin compressed by 14 basis points as we passed rate rises through to savers ahead of the market.
The full disclosure, including Pillar 3 tables and the board's viability statement, is available in the investor section. Our next scheduled update is the Q3 trading statement.