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Netherlands nationalises bank SNS Reaal

The Netherlands has nationalised banking and insurance group SNS Reaal at a cost of 3.7 billion euros ($5 billion), Finance Minister Jeroen Dijsselbloem said on Friday, averting a threat to the Dutch financial system. Prime Minister Mark Rutte later said the Dutch state's intervention was prompted by "huge blunders" made by SNS Reaal's top management costing the taxpayer huge amounts of money.

Dutch state nationalises SNS Reaal bank: minister

The Dutch state has nationalised banking and insurance group SNS Reaal at a cost of 3.7 billion euros ($5 billion), Finance Minister Jeroen Dijsselbloem said on Friday, averting a threat to the Dutch financial system. "Today, SNS Reaal has been fully taken over by the Dutch state. I have nationalised SNS Reaal," Dijsselbloem told a press conference, after a deadline expired to find a solution for the distressed bank.

Dutch state nationalises SNS Reaal bank: minister

The Dutch state has nationalised banking and insurance group SNS Reaal at a cost of 3.7 billion euros ($5 billion), Finance Minister Jeroen Dijsselbloem said on Friday marking a rescue to avert a threat to the Dutch financial system. "Today, SNS Reaal has been fully taken over by the Dutch state. I have nationalised SNS Reaal," Dijsselbloem told a press conference, after a deadline expired to find a solution for the distressed bank.
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