Van Lanschot NV completed the acquisition of the private banking activities of Achmea Bank NV unit Staalbankiers NV, the Dutch lenders said Dec. 15.

The completion, which followed receipt of all required regulatory approvals, sees Van Lanschot take on roughly €1.7 billion of assets under management, up to €300 million in savings and a small portion of securities-backed loans. Twenty-five Staalbankiers private bankers also joined Van Lanschot.

Van Lanschot paid an initial price of €16 million for the acquisition, which is exclusive of any other Staalbankiers activities.

Achmea Bank is a unit of Achmea BV.