Annual and interim reports

Corporate information

The 2020 financial statements of Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (hereafter referred to as ‘FMO’ or ‘the company’) were prepared by the members of the Management Board and signed by all members of the Management

Consolidated balance sheet

As at 31 December 2020

Consolidated profit and loss account

For the year ended 31 December 2020

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Consolidated statement of comprehensive income

For the year ended 31 December 2020

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Consolidated statement of changes in shareholders' equity

For the year ended 31 December 2020

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Consolidated statement of cash flows

For the year ended 31 December 2020

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Significant accounting policies

The consolidated annual accounts (the ‘annual accounts’) have been prepared in accordance with International Financial Reporting Standards (‘IFRS’) as endorsed by the European Union and with Part 9 of Book 2 of the Dutch Civil Code for the financial

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Risk management

This chapter provides an overview of FMO's risk governance and risk management approach. The sections describe the key risk domains relevant for FMO and developments throughout 2020.

Capital Adequacy

Capital is central to a bank’s ability to absorb unexpected losses and to be able to continue its operations. FMO aims to maintain a strong capital position that meets regulatory requirements and supports its AAA rating.

Financial Risk

Investment risk is defined as the risk that actual investment returns will be lower than expected returns, and includes credit, equity, concentration and counterparty credit risks.