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Dutch central bank approves Achmea Bank-ASR Bank deal

The Dutch central bank approved Achmea Bank NV's acquisition of part of the banking operations of ASR Bank NV.

The agreement to acquire the business, consisting of a liability portfolio with savings of €1.7 billion and approximately 125,000 customers, and an asset portfolio consisting of mortgages of a volume of €1.5 billion, was finalized in March.

The advisory process with the Works Councils has also been completed.

The integration of the transaction is likely to be complete in the second half of 2019.