NIBC Bank NV is closing its capital markets business within the corporate client division amid what it called a changing market environment.
The move is expected to affect some 50 employees within fixed income and debt and equity capital markets businesses, the Dutch bank said Jan. 15.
The provision for the restructuring totals about €9 million, which the lender said will be recovered by strong operating income in 2019.
NIBC expects to pay out a final dividend of at least 50 euro cents per share for 2019, which will bring the total dividend for the year to at least 75 cents per share.
The Dutch bank will publish more details on its 2019 results on Feb. 26.