Achmea Bank N.V. signs agreement to acquire the remainder of the loan portfolio from Staalbankiers N.V.
Monday 16 January 2017
Achmea Bank N.V. has reached an agreement with Staalbankiers N.V. on 15 December 2016 to acquire the remainder of the Staalbankiers loan portfolio. The transfer will be effected in stages, commencing on 15 December 2016, and will be completed by 30 June 2017. Achmea Bank has received the necessary Declaration of No Objection from the Dutch Central Bank on 5 December 2016.
The carrying amount of the acquired portfolio is €245 million and this final tranche is in addition to the previous acquisition by Achmea Bank N.V. of a Staalbankiers loan portfolio amounting to approximately €1.1 billion in July 2015. In addition to the loans, Achmea Bank N.V. will be acquiring linked savings accounts totalling €57 million. The purchase price is equal to the carrying amount.
Achmea B.V., the parent company of Achmea Bank N.V., will inject additional capital of €33.5 million into Achmea Bank N.V. in connection with this loan portfolio. Furthermore, Achmea B.V. has issued a guarantee to Achmea Bank N.V. concerning this loan portfolio to cover certain risks, including credit risk.
The transfer is expected to result in a slight improvement in the solvency ratio of Achmea Bank N.V..
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