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BinckBank acquires €340M property portfolio from Rabobank unit

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BinckBank acquires €340M property portfolio from Rabobank unit

BinckBankNV acquired July 15 a €340 million Dutch residential mortgageportfolio from Rabobank unit ObvionNV.

The lender said July 18 that the acquisition is aligned with itsstrategic goals to diversify its revenue streams and become less dependent ontransaction-related income.

The online bank noted that with the purchase, it is on trackwith its plans to finance a total of €500 million of Dutch residentialmortgages in 2016.