Netherlands-based bank ABN AMRO has agreed to buy local commercial bank NIBC Bank from the US asset manager Blackstone in a deal valued at about €960m ($1.11bn). 

Founded in 1945, NIBC focuses on mortgage lending, savings products, commercial real estate and digital infrastructure lending. 

The purchase price reflects 0.85 times NIBC’s book value based on shareholders’ equity at closing and is subject to final adjustments. 

This transaction is expected to be completed in the second half of 2026, subject to regulatory approvals and works council consultations at both banks. 

NIBC CEO Nick Jue said: “Today’s announcement marks an exciting milestone in NIBC’s 80-year history and is testimony to our strong client franchises as well as the professionalism and entrepreneurship of our people. 

“By combining our well-recognised client proposition and networks with the scale and strength of ABN AMRO, we will be able to provide even greater value to clients. 

“With the natural fit of strategies, cultures and mindset, we are confident in the new opportunities this will create for all our stakeholders.” 

ABN AMRO said the acquisition will expand the scale of its retail banking operations and strengthen its position in the Dutch market. 

The deal will add NIBC’s client base, including around 325,000 savings clients, 200,000 mortgage clients and 175 corporate clients within ABN AMRO’s Northwest European footprint. 

ABN AMRO expects the transaction to increase profitability and to achieve a return on invested capital of around 18% by 2029. 

ABN AMRO CEO Marguerite Bérard said: “The acquisition of NIBC represents a unique opportunity to further strengthen our position in the Dutch retail market and contributes to profitable growth. 

“This transaction meets our acquisition criteria and aligns fully with our new strategy. 

“This strategy, which will be presented at the Capital Markets Day on 25 November 2025, is centred around profitable growth, right sizing our cost base and optimising our capital allocation.” 

ABN AMRO said the purchase will increase its scale in the Dutch, German and Belgian savings markets and will broaden its mortgage and corporate lending presence in its Northwest European markets. 

As part of the transaction, ABN AMRO has reviewed its mortgage brand strategy. The bank will maintain its core mortgage labels, ABN AMRO and Florius, and discontinue the Moneyou brand. 

ABN AMRO said this decision creates room to potentially integrate NIBC’s mortgage label into its product range. 

The bank also plans to legally merge ABN AMRO Hypotheken Groep into ABN AMRO Bank to improve operational efficiency. 

ABN AMRO personal and business banking chief commercial officer Annerie Vreugdenhil said: “We are very happy to have reached this agreement. 

“NIBC is a natural match for ABN AMRO, strengthening our prominent position in the Dutch mortgage market, while also creating significant growth in the bank’s savings business with the addition of affluent retail clients. 

“I’m very much looking forward to welcoming NIBC’s clients and to working with the NIBC team.” 

In August this year, Infosys implemented and launched the nCino Platform to overhaul ABN AMRO’s loan origination and collateral management processes.