Restructuring of SNS Reaal

The European Commission has approved the restructuring plan for SNS Reaal, Nos reports Wednesday. SNS Reaal Logo The company will be split into a separate bank and a separate insurer. SNS Bank will continue to work as an independent bank, while insurance business Swiss Life will be sold, the paper reports. SNS Reaal was nationalised in February. The bank went into trouble by heavy losses in real estate.