Netherlands-based ABN Amro Group NV has agreed to sell a €2 billion loan portfolio to Nederlandse Waterschapsbank NV, Het Financieele Dagblad reported.
The portfolio, containing long-term loans with an average maturity of 25 years to housing corporations, municipalities, university hospitals and water supply companies, is not part of ABN Amro's core banking operations, a spokesman for the group said Jan. 10, according to the report.
NWB Bank, on the other hand, specializes in long-term loans to public companies and is therefore happy with the deal, Het Financieele Dagblad said, citing a bank spokesman. This is also the largest ever portfolio acquisition for NWB Bank, the newspaper added.
NWB Bank's total credit portfolio currently amounts to some €50 billion, after the lender expanded it by €6 billion in 2018, the newspaper noted.