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Dutch government adviser: Volksbank not ready for privatisation
September 15, 2017 / 6:24 AM / 2 months ago

Dutch government adviser: Volksbank not ready for privatisation

AMSTERDAM (Reuters) - De Volksbank, the former banking operations of SNS Reaal, is not yet ready for privatisation, the agency which advises the Dutch government on financial holdings said on Friday.

Uncertainty over new rules from the Basel committee on how much capital banks must hold in reserve against mortgage loans makes it impossible to determine an appropriate capital structure for the bank, a major mortgage lender, the NLFI agency said in a report.

The NLFI also said it is too early to say whether the state will be able to sell De Volksbank for more or less than the 2.7 billion euros (2.40 billion pounds) its 2013 nationalisation cost, adding that it has seen no interest from potential buyers, foreign or domestic.

Reporting by Toby Sterling; editing by Jason Neely

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