Rabobank says state support unnecessary

21st October 2008, Comments 0 comments

The Netherlands’ last remaining independent retail bank says it does not require any financial aid from the government.

21 October 2008

THE NETHERLANDS -- The Netherlands'Rabobank announced Monday that it did not require any financial aid from the government.

Rabobank's announcement comes in the wake of last weekend's announcement that the ING bank, one of the largest banks in the world, had accepted EUR 10 billion from the Dutch state.

Rabobank is the Netherlands' last remaining independent retail bank. It has some seven million customers in the Netherlands.

Dutch insurer Aegon, whose stock came under renewed pressure on Monday said it was considering using the EUR 20 billion fund made available to financial institutions by the government.

"We are studying if and under what conditions government support would benefit Aegon," a spokesman said, emphasising Aegon does not have a liquidity problem and meets all minimum capital ratio requirements.

Earlier this month, Fortis Nederland and ABN AMRO were nationalised.

[Radio Netherlands / Expatica]

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