Netherlands to say goodbye to SNS bank, BLG Wonen and RegioBank brands as ASN takes over
De Volkskbank and the Netherlands will soon say goodbye to SNS, BLG Wonen, and RegioBank as ASN will become the leading brand within the state bank, the Financieele Dagblad reported.
The Volskbank previously reported that it would merge its brands into one, strong banking brand. According to FD, ASN came out on top as the strongest and surviving brand. The bank will officially make the announcement on Monday, sources told the newspaper. The bank declined to comment.
The merging of De Volksbank brands is part of a major reorganization that also involves closing up to 290 branches and cutting up to 750 full-time jobs. De Volksbank called the reorganization a “transformation” to a new phase.
The bank has been in government hands since the rescue of SNS Reaal in 2013. Finance Minister Eelco Heinen informed parliament last month that this Cabinet plans to take the bank public or sell it to an investor. The reorganization is likely related to this planned privatization.
