Dutch Lender Expands Retail Reach, While Standard Chartered Eyes Return to Wealth Management Sector
ABN Amro to Acquire NIBC Bank
ABN Amro has announced its decision to acquire NIBC Bank from US private equity firm Blackstone for approximately €960 million, marking the Dutch lender’s largest acquisition since its purchase of the German private bank Hauck Aufhäuser Lampe in 2024 for €672 million.
The transaction, which is subject to regulatory approval and final adjustments, is expected to close in the second half of 2026.
ABN Amro has stated that the acquisition will enhance its mortgage and savings operations, further consolidating its position in the retail banking sector in the Netherlands. NIBC serves roughly 325,000 savers, 200,000 mortgage customers, and 175 corporate clients. ABN Amro has forecasted a return on invested capital of around 18 per cent by 2029 and expects its Common Equity Tier 1 ratio to improve by 70 basis points upon completion of the deal.
“NIBC is a natural match for ABN Amro,” said Annerie Vreugdenhil, ABN Amro’s Chief Commercial Officer for Personal and Business Banking.
StanChart Mulls Return to Swiss Private Banking
Standard Chartered is reportedly considering a return to Switzerland’s private banking sector as part of its strategy to expand services for high-net-worth clients, according to a Bloomberg report. The bank is exploring the possibility of reopening an office in Geneva, although sources have indicated that such a move is unlikely to occur before 2027.
This potential return comes nearly a decade after Standard Chartered closed its Swiss private banking arm. The closure was part of a broader restructuring effort, in which the bank exited non-core businesses and shifted its focus towards faster-growing regions in Asia, the Middle East, and Africa.
Wealth management has become a key component of Standard Chartered’s growth strategy. In December, the bank set a target of attracting $200 billion in new client assets over the next five years. A spokesperson for the bank declined to comment on the reports.
Nationwide to Keep All 696 Branches Open Until 2030
In a move that defies the broader trend of branch closures across the UK banking sector, Nationwide Building Society has pledged to keep all of its 696 branches open until at least 2030. This announcement comes as many UK banks close branches due to customers increasingly shifting to online and mobile banking services.
More than 6,000 UK bank branches have closed over the past decade, according to consumer group Which? However, Nationwide has reported an 11 per cent rise in branch usage over the past year. Notably, over a third of new current accounts and more than a fifth of savings accounts were opened in person. In areas where Nationwide operates the last remaining physical branch, new account openings have increased by nearly 30 per cent.
“Our customers can be confident that they can bank with us whichever way they choose,” said Dame Debbie Crosbie, Nationwide’s Group Chief Executive. “Branches are important to our customers, to communities, and to the health of our high streets.”
Bank of America Faces Class Action Over Unpaid Login Time
Bank of America is facing a class-action lawsuit after it was alleged that the bank failed to compensate hourly employees for the time spent logging into work systems before officially clocking in. The complaint, filed by former BofA business analyst Tava Martin, claims that workers were required to complete multiple log-in steps before accessing their timecards, effectively making them perform unpaid work at the beginning of the day and after lunch breaks.
According to the lawsuit, the login process could take up to 30 minutes each morning and several minutes after lunch. Martin is seeking back pay and damages on behalf of herself and “hundreds” of other affected employees.