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ABN Amro has agreed to acquire NIBC Bank for €960mn ($1.1bn) from Blackstone, aiming to expand its presence in Dutch retail banking and strengthen its footprint in Germany and Belgium. The acquisition reflects increasing consolidation in Europe’s banking sector as firms seek to stabilize earnings amid falling interest rates. It is the first major transaction led by its new CEO Marguerite Berard, appointed in April. NIBC, which focuses on mortgages, savings, real estate and digital infrastructure lending, has recently streamlined operations by exiting shipping, leasing and automotive financing. Blackstone, which bought NIBC in 2020, expects total proceeds from the exit to exceed €2bn ($2.3bn), including prior dividends. The acquisition will reduce ABN Amro’s CET1 ratio by 70bp, and the bank will discontinue its Moneyou mortgage brand, potentially replacing it with NIBC’s label. Analysts view the deal valuation as reasonable, though some investors may be disappointed by the capital impact. ABN Amro continues cost-cutting efforts, including a hiring freeze and 700 job reductions, and recently completed the takeover of Hauck Aufhäuser Lampe to strengthen its German wealth business. The NIBC transaction is expected to close in the 2H2026.
ABN Amro’s bonds traded stable with its 6.339% 2027s at 101.7 yielding 4.2%
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