De Volksbank
Parent NL Financial Investments (state-owned) | |
De Volksbank (lit. 'The People's Bank') is a Dutch
De Volksbank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[3][4]
History
The history of the bank goes back to 1817 when the first Netherlands
In 1987 a merger with several regional banks, including Gelders-Utrechtse Spaarbank en Spaarbank Limburg, formed SNS Bank.[5][6] SNS is an abbreviation for Samenwerkende Nederlandse Spaarbanken (English: "Co-operating Dutch savings banks"). The holding was called Sanes Holding N.V.[7]
The second half of the 20th century saw a big consolidation of spaarbanks in the Netherlands. Some joined SBS Bank, while others joined VSB (
In 1997, SNS Groep N.V. and insurer REAAL Group N.V. merged into
The holding company was listed on the Euronext stock exchange in Amsterdam on 18 May 2006. On 4 December 2006 it was announced that SNS REAAL would purchase RegioBank from
On 1 February 2013 SNS Bank and its parent SNS REAAL were nationalized by the Dutch government to save it from default. Investors were expropriated as a result of the nationalization and originally, the Ministry of Finance did not want to provide any compensation at all, but in February 2021, after years of legal proceedings, a Dutch court ruled that the government must pay 804 million euros plus interest to them.[8]
In September 2016 it was announced that SNS Bank would be called De Volksbank as of 1 January 2017.[9][10] De Volksbank has a single banking permit and continues to operate under multiple brand names, including SNS Bank, ASN Bank, BLG Wonen and RegioBank.
See also
- SNS REAAL
References
- ^ a b c "SNS Bank - Voor journalisten". Archived from the original on 2010-12-30. Retrieved 2010-11-29.
- ^ "Major Banks in the Netherlands".
- ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
- ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
- ^ "History of SNS (1817-1999)" (PDF). SNS Historical Archive (in Dutch). Retrieved 2020-01-04.
- ^ a b "Tree structure of SNS history (1817-1999)" (PDF). SNS Historical Archive. 2 May 2007. Retrieved 2020-01-04.
- ^ SNS REAAL. April 2009. Retrieved 2020-01-05.
- ^ "Staat moet SNS-beleggers 804 miljoen betalen om nationalisatie in 2013" (in Dutch). Nederlandse Omroep Stichting. Retrieved 2020-02-11.
- ^ "SNS Bank gaat verder als de Volksbank". BNR Nieuwsradio (in Dutch). 27 September 2016. Retrieved 2020-01-05.
- ^ "Even voorstellen: de Volksbank N.V." snsbank.nl (in Dutch). 2016-10-01. Archived from the original on 2016-10-01. Retrieved 2020-01-05.