Top Banks in the Netherlands
A small number of substantial national banks, which account for 60% to 80% of the market, are highly consolidated and control the banking industry.
Commercial banks, savings, mortgage, and credit unions make up the Dutch banking sector. A small number of substantial national banks, which account for 60% to 80% of the market, are highly consolidated and control the banking industry.
The combined assets of the top three Dutch banks ABN AMRO, ING, and Rabobank, approximately equal EUR 2 trillion.
Ninety-six domestic and foreign banks make up the robust banking system in the Netherlands. The nation's central bank, De Nederlandsche Bank, works with the Dutch Authority for Financial Markets to support and oversee Dutch banking services (AFM).
In 2020, the nation's banking assets represented 314% of its GDP. However, the global trend toward internet banking keeps shrinking the physical banking sector in the Netherlands.
In 2010, there were 23 branches per 100,000 people, but by 2019, there were only 12 branches. The country has a substantial presence of online transactions, mobile banking, and banking apps, and many citizens and businesses prefer electronic transactions to cash.
It's critical to conduct thorough research on several Dutch banks to find the one that best satisfies your demands and values.
There are many kinds of banks in the Netherlands, but not all will meet your demands. Additionally, keep in mind that different banks have different terms and conditions for their goods and services.
Top banks in Netherlands: ING Bank
The biggest bank in the Netherlands, ING Bank, likewise dominates the "Benelux" region. The Dutch government provided ING Bank with a capital infusion of 10 billion euros in 2008, which was fully repaid in 2014.
The current "Think Forward" strategy of ING Bank calls for enhancing its positions in digital banking, increasing capital ratios, and lowering cost-to-income ratios.
By making its products and services simple to use, providing easy access to them, and providing tools to assist clients in making wise financial decisions, ING Bank aims to be a market leader in the digital customer experience.
One of the most prominent Dutch banks, ING, is distinguished by its association with everything orange and is easily recognized from a distance.
The majority of its website and mobile app are both available in English. They have actual locations; they are helpful if you have any issues or queries.
If you desire, you can also apply for a MasterCard credit card. Additionally, their student account is free for five years, which is very good.
Their business operations are situated in Amsterdam. One of Europe's most global corporate ecosystems is found in the Netherlands.
Its advantageous location gives pan-European activities a secure foundation. Due to its excellent transport connections, companies may easily reach different markets in Europe, the Middle East, and Africa.
ABN Amro Bank
The second largest bank in the Netherlands is ABN Amro Bank. Because the information is in English, it is ideal for students and recent graduates who need to speak Dutch.
The bank provides free online and mobile banking services. International students are not charged for the Student Package. Once they receive their BSN, students and recent graduates can open an account upon arrival.
ABN AMRO provides three different credit card types (standard credit card, gold credit card, and student credit card). You also receive insurance coverage based on your credit card selection in the event of losses or damages.
While carrying out certain operations abroad, the domestic market is the primary focus. Dutch State owned all of the ABN AMRO Bank's shares. ABN AMRO declared in 2013 that it might begin preparing for an initial public offering.
The first batch of depositary receipts for shares was launched on the stock exchange in November 2015. The Dutch State will keep shares in ABN AMRO for a while before reducing them progressively over the following years.
For 2017, ABN AMRO has established some strategic priorities:
- a more substantial commitment to a moderate risk profile,
- investment in the future,
- improvement of profitability, and
- selective foreign expansion
Rabobank
Internationally, Rabobank, a cooperative Dutch bank, has received good safety ratings. Free credit cards and bank accounts are available for the opening. To create an account, you must schedule a time.
Unfortunately, no English-language resources are available online or through internet banking.
To address the transfer of supervision to the European Central Bank and new European rules and regulations that impose extra demands on the bank's organization, the bank declared in 2014 that it intended to evaluate its current governance structure.
As a result, the cooperative structure of Rabobank has changed as of January 1, 2016. With one banking license and the release of a single set of financial statements, all local Rabobanks and Rabobank Nederland now operate as a single cooperative entity.
Neither the cooperative tenets of Rabobank Group nor the way it interacts with its clients is impacted by these developments. Rabobank's 2020 strategic plan includes the following:
- Excellent customer service,
- bettering financial results, and
- establishing a more flexible and robust balance sheet
De Volksbank
Dutch retail bank De Volksbank NV provides:
- deposit products,
- credit cards,
- home and personal loans,
- insurance,
- investments,
- payment services, and
- online banking to people and small- and medium-sized businesses.
Several brands know the business, including SNS, ASN Bank, BLG Wonen, and RegioBank. Its headquarters in Utrecht services more than 3.3 million consumers and has a workforce of more than 3,000.
The largest Dutch bank not directly supervised by the European Central Bank is de Volksbank, the fourth-largest bank in the Netherlands. The bank primarily focuses on mortgages, savings, and payments in the Dutch market.
The bank has the following strategic priorities: maintaining a modest risk profile while providing excellent customer service and company operations.
To emphasize that SNS Bank is a dependable bank offering straightforward, practical, and inexpensive goods and accepting responsibility, the bank has been doing business as "de Volksbank'' as of January 1, 2017.
Since January 1, 2017, ASN Bank, Regiobank, SNS Bank, BLG Wonen Bank, and Zwitserleven have all operated under the de Volksbank single banking license.
Their objective is to have the best customer relationships and the most significant, quantifiable social impact in the Netherlands by 2025.
They frequently inquire about how society will profit. Yes, the entire social structure. Because they can play a significant role—especially as a bank—with the assistance of all their staff, their four bank brands, customers, and everyone else involved.
NIBC Bank
The Hague serves as the corporate headquarters for the Dutch commercial bank NIBC Bank N.V., founded in 1945. It provides corporate and retail banking services in the Netherlands, Belgium, Germany, and the U.K., with more than 730 FTE workers.
It concentrates on asset-backed transaction financing for corporate customers in the commercial real estate, digital infrastructure, shipping, and specialty finance industries.
With a focus on offering residential mortgages and savings products to corporate and individual customers, NIBC Bank conducts business in Germany and the Benelux nations.
The final installments of government-guaranteed bonds acquired from the Dutch state during the financial crisis were repaid by NIBC Bank in 2014. The German bank Gallinat-Bank AG was acquired by NIBC and rebranded as NIBC Bank Deutschland AG in 2014.
Before a one-time net loss of EUR 22 million from the sale of non-core portfolios, NIBC had a successful half-year with an underlying net profit of EUR 86 million (H1 2021: EUR 91 million).
The portfolio of mortgages, which includes a company that was started to handle mortgages, climbed by 9% to EUR 24 billion.
Asset-Backed & Specialty Finance saw a 15% specialty in revenue. Platforms from Beequip and Yesjar both saw a 23% growth. Interest income climbed to EUR 209 million (+11%) due to increased portfolio volumes and financing expenses.
Their continued investments in their I.T. infrastructure, process improvements, and strategic projects are all included in the cost/income ratio of 48%.
Nationale-Nederlanden Bank
The insurance and asset management firm NN Group includes Nationale-Nederlanden bank as a member. Nationale-Nederlanden Bank offers retail banking services and products, including savings, investments, payment cards, mortgages, and consumer loans.
Through independent consultants, Nationale-Nederlanden Bank makes its products directly and indirectly available. In addition, Nationale-Nederlanden completed the purchase of Delta Lloyd Group shares in the first half of 2017.
Under the name Nationale-Nederlanden, Delta Lloyd Bank and Nationale-Nederlanden will continue to operate. The investor compensation program of Nationale-Nederlanden Bank safeguards your investments.
The investor compensation program applies, among other things, to Dutch banks with Dutch Central Bank licenses (DNB). The Nationale-Nederlanden Bank is included in this.
Nederlandse Waterschapsbank N.V.
NWB Bank is a well-known financial services company that provides flexible short- and long-term financing options. They only offer services to the Dutch public sector
They support institutions supported by the government and local authorities, including water agencies and municipal and provincial authorities.
Most of their clientele are societal organizations, such as businesses involved in water and environmental protection, healthcare, education, and social housing.
The shareholders of NWB Bank are Dutch public-sector organizations, just like its customers.
Due to its strong financial standing and high ratings from Standard & Poor's and Moody's, NWB Bank can raise money for its activities on the global money and capital markets.
Their reputable standing and financial know-how enable us to raise money on advantageous terms in the global financial markets. Furthermore, the cost structure of NWB Bank is shallow.
The interests of NWB Bank's customers come first. Their bank plays a significant part in the delivery of financial services. They can only effectively perform that duty if society, specifically their clients.
Consciousness, participation, and dependability are their fundamental values. When performing their jobs, employees are expected to uphold these basic principles.
The bank's founders intended to give local water authorities risk-free cash. Self-interest was not a factor in this project. The bank's initial goal was to get the water authority the best terms.
However, the bank's founders emphasized that it would work with other public and semi-public organizations. The bank started funding social housing and towns not long after it opened. The bank became a significant financier in the public sector in this way.
NatWest Group
A non-ring-fenced investment banking unit of the NatWest Group is called NatWest Markets. The business and institutional banking division of RBS Group was transformed into NatWest Markets in 2016.
Customers worldwide can get debt finance, trading solutions, and risk management from NatWest Markets.
It indicates that RBS is no longer offering global transaction services, such as bank accounts, payments, electronic banking, cash management, and trade finance services (collectively, "GTS Arrangements") outside of the UK and Ireland or from the UK and Ireland's GTS International Platform, and that RBS's presence in certain regions has come to an end.
In November 2019, NatWest Markets N.V. became a NatWest Markets Plc subsidiary. Previously, it was a NatWest Group plc indirect subsidiary.
The following list includes the supervisory board, managing board, and committees for NatWest Markets N.V. The Supervisory Board of NatWest Markets N.V. is the body to whom the Managing Board and Senior Committees answer.
Services provided by Netwest group include:
- trading remedies,
- risk reduction,
- financial markets,
- individual placements,
- arranged loans, and
- liquidity control
The Netherlands' deposit guarantee program is a member of NatWest Markets NV. This deposit guarantee program covers up to EUR 100,000 per bank per depositor and applies to term deposits made by private people, businesses, and legal bodies.
The Deposit Guarantee Fund (DGF) is a member of and funded by NatWest Markets NV.
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