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SNS Bank to change name

Dutch lender SNS Bank NV will be renamed to de Volksbank NV with effect from Jan. 1, 2017.

The bank's four brands, ASN Bank NV, BLG Wonen, RegioBank NV and SNS, will retain those names, and customers will continue to bank with those brands. The banking licenses of ASN Bank and RegioBank will lapse as of Dec. 31, 2016, SNS Bank said, noting that operating under one license will simplify its operations.

SNS Bank said the change represents the "course the bank has set towards being a social, people-oriented and sustainable bank." SNS Bank was part of the former SNS REAAL, which was bailed out by the Dutch government in 2013.

De Volksbank NV will be a wholly owned unit of De Volksholding BV, currently SNS Holding BV, which is a direct subsidiary of Dutch state holding company NL Financial Investments.