About de Volksbank NV
In 1987 two major regional savings banks merged into SNS. Mergers and acquisitions drove the Group’s rapid expansion in the 1990s. In 1997, SNS Group and insurer REAAL Group merged into SNS REAAL. The company was listed at the stock exchange in 2006.
A number of acquisitions were completed in the years following SNS REAAL’s IPO. The property finance activities of Bouwfonds (SNS Property Finance) were acquired and added to the Bank in 2006. Subsequent acquisitions were those of RegioBank (2007) and, at the Insurer the Dutch activities of AXA (2007) and Zwitserleven (2008). SNS Bank’s retail bank activities have remained structurally profitable throughout the years. Despite this business unit’s positive results, however, from 2009 onwards rising losses at Property Finance put increasing pressure on SNS Bank’s results and solvency. This ultimately led to the nationalisation of SNS REAAL and its subsidiaries, including SNS Bank, on 1 February 2013. As a consequence of the nationalisation, the Dutch State is the sole shareholder of SNS REAAL (through NLFI)… Continue reading about de Volksbank NV here.
Website: https://www.devolksbank.nl/
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