UBS Points to Two Top European Luxury Stocks Ahead of 2026 Upswing
Investing.com -- ABN Amro said on Wednesday it will acquire Dutch commercial lender NIBC Bank from private equity group Blackstone, in a move aimed at strengthening its domestic footprint.
The deal, valued at around 960 million euros ($1.1 billion), is expected to close in the second half of 2026. The bank said the acquisition should enhance profitability and deliver a return on invested capital of about 18% by 2029.
Separately, ABN Amro reported better-than-expected third-quarter earnings. Net profit declined 11% year-on-year to 617 million euros ($720 million), exceeding the analyst consensus of 589 million euros.
Shares in the Dutch lender rose 2.7% as of 08:54 GMT.
“In relation to the acquisition of NIBC, we have reassessed our mortgage brand strategy (and) decided to focus on our core mortgage labels, ABN AMRO and Florius, and to discontinue the Moneyou brand,” CEO Marguerite Bérard said, noting the shift is part of efforts to streamline operations and improve efficiency.
Quarterly costs came in higher than anticipated, partly reflecting the integration of employees from German lender Hauck Aufhäuser Lampe, which ABN Amro acquired earlier this year.
The bank now expects total expenses of between 5.4 billion and 5.5 billion euros in 2025, slightly below the market forecast of 5.56 billion.