ABN AMRO Bank has announced it has come to an agreement with Blackstone to move forward with the acquisition of NIBC Bank.
Acquiring NIBC Bank will position ABN AMRO to expand its retail banking activities, further solidifying its spot as a provider of such services in the Dutch market.
The bank has agreed to purchase NIBC for a consideration of 0.85 times book value based on the latter’s shareholders' equity as of the closing date. The projected transaction price is approximately EUR 960 million, still being subject to final modifications.
Profitable growth and scaled presence
Mostly serving as an entrepreneurial bank, NIBC specialises in mortgage lending, savings products, commercial real estate, and digital infrastructure lending. According to its data, the financial institution delivers its offering to nearly 325,000 savings clients, 200,000 mortgage clients, and 175 corporate clients within ABN AMRO’s Northwest European geographical footprint.
ABN AMRO anticipates that purchasing NIBC Bank from Blackstone will improve its profitability and result in a return on invested capital of nearly 18% by 2029. Additionally, the bank expects substantial synergy potential with low execution risk and the overall impact of the acquisition on its CET1 ratio is projected to be 70 basis points at closing.
Still subject to regulatory approvals and works councils consultation processes within ABN AMRO and NIBC, completion of the deal is expected to happen in the second half of 2026. Also, relating to the acquisition, ABN AMRO has reviewed its mortgage brand strategy, deciding to continue to centre on its core mortgage labels, ABN AMRO and Florius, and to halt the operations of the Moneyou brand. Through this, the bank aims to potentially include the NIBC mortgage label within its product and brand portfolio.
Furthermore, the transaction with NIBC boosts the scale of ABN AMRO’s position in the Dutch, German, and Belgian savings markets. Also, the financial institution is looking into possible synergies through a combination with its investment offering at BUX. Providing further details on the deal, Marguerite Bérard, Chief Executive Officer of ABN AMRO, stated that the transaction meets the bank’s acquisition criteria and aligns with its new strategy, which focuses on profitable growth, right-sizing its cost base, and improving its capital allocation.
