NMa raids three large banks

18th April 2007, Comments 0 comments

18 April 2007, AMSTERDAM – The Dutch competition authority (NMa) has been investigating ABN Amro, ING and Rabobank over the past two days. The three banks confirmed this on Tuesday evening.

18 April 2007

AMSTERDAM – The Dutch competition authority (NMa) has been investigating ABN Amro, ING and Rabobank over the past two days. The three banks confirmed this on Tuesday evening.

The banks say that the NMA is investigating whether they have been making prohibited pricing agreements on interest rates on loans to the business sector.

ABN Amro, ING and Rabobank are market leaders for these loans. A spokesperson for the competition authority did not want to comment on the case.
 
ING says the NMa team sent 10 people to the bank on an unexpected visit. ABN Amro reports that the team took documents and interviewed workers. All three banks are giving their complete cooperation. The banks expect further visits from the competition authority since the investigation is still ongoing.

"We aren't aware of any wrongdoing," said a spokesperson for Rabobank. The spokesperson from ING did not want to comment on the topic of pricing agreements with competitors as long as the investigation is pending.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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