ABN AMRO to acquire BUX

By reaching an agreement, ABN AMRO and BUX receive a combined improved position in the Netherlands for investors who plan on expanding their operations and building their wealth. The acquisition also fits in ABN AMRO’s pan-European development commitment. According to officials, the integration of BUX focuses on developing a combination of user-friendliness and financial strength, as well as stability and insight, which can be a significant foundation for upcoming growth in the private investment domain, both for clients and the bank. Representatives from BUX stated that, since its launch, the company has been committed to improving its presence in Europe’s retail investment area and the partnership with ABN AMRO can support its objectives.

Furthermore, the collaboration between BUX and ABN AMRO allows them to provide a range of investment and savings products to new investors who intend to explore this area, as well as to more experienced clients with larger portfolios looking for expertise that supports them in achieving their goals. ABN AMRO focuses on expanding with its clients, while BUX receives an additional growth investment by allowing long-term scaling and innovation solidified by the bank’s resources and infrastructure. As per the information detailed in the press release, the acquisition does not include BUX’s cryptocurrency activities. Currently, the transaction is subject to approval by the regulator, with it being expected to be finalised in 2024 and have a minor impact on the CET1 capital ratio.

The acquisition comes after several collaborations between BUX and ABN AMRO, with the bank’s venture arm being one of the first companies to invest in BUX. Additionally, ABN AMRO Clearing and BUX joined forces to link the bank’s technology to the latter’s app in May 2019 and, in April 2022, BUX started to provide fractional European ETFs. The two companies worked together to allow investors with smaller budgets to purchase parts of shared or ETFs.

Operating as a bank for retail, corporate, and private banking clients, ABN AMRO offers its services in Northwest Europe and focuses on supporting the transition to a sustainable society. In recent months, the bank entered several collaborations to advance its development strategy. At the beginning of October 2023, ABN AMRO partnered with Motive Partners to assist in innovating and expanding the fintech landscape. Through this collaboration, Motive Ventures aimed to manage the ABN AMRO Ventures Fund (AAV), which included 15 early-stage companies. Also, ABN AMRO became an investor in Motive-managed vehicles.

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