SNS Property Finance's underlying net result for 2008 declined by 67% to EUR 28 mln, its parent company SNS Reaal reported last week. The group said the net result at SNS Property Finance before impairment charges increased 17.5% to EUR 114 mln, due to higher net interest income. But the negative impact of EUR 75 mln from higher impairment charges led to a fall in the net results to EUR 28 mln, down by EUR 58 mln compared to the 2007 result.
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