BinckBank sells part of its residential mortgages portfolio to Achmea Bank
Following the acquisition of BinckBank by Saxo Bank Group last year, BinckBank today announces the divestment of a Dutch residential mortgages portfolio worth EUR 460 million to Achmea Bank. Achmea Bank is part of Achmea, the largest insurance company in the Netherlands. This concludes the total divestment of the entire residential mortgages portfolio as the remaining part of the portfolio worth EUR 235 million is being acquired by an undisclosed buyer.
The residential mortgages portfolio was acquired by BinckBank in 2016.
Liesbeth Sinke, Chief Financial & Risk Officer at BinckBank commented on the transaction:
“The divestment of the mortgage portfolio is in line with the Saxo Bank Group’s strategy of fully focusing on our core activities. BinckBank does not offer a broad suite of traditional banking products such as residential mortgage lending - but has a dedicated focus on facilitating access to global financial markets as well as servicing our clients’ investments and their need for financing these investments.
Over the past years and particularly in 2020, we have had significant growth in the number of new clients looking to take control over their investments. Supporting our growing client base in navigating the financial markets is where our core activities are.”
Saxo Bank is a leading Fintech specialist that connects people to investment opportunities in global capital markets. As a provider of multi-asset trading and investment, Saxo Bank’s vision is to enable people to fulfil their financial aspirations and make an impact. Saxo’s user-friendly and personalised platform experience gives investors exactly what they need, when they need it, no matter if they want to actively trade global markets or invest into their future.
Founded in 1992, Saxo Bank was one of the first financial institutions to develop an online trading platform that provided private investors with the same tools and market access as professional traders, large institutions, and fund managers. Saxo combines an agile fintech mindset with close to 30 years of experience and track record in global capital markets to deliver a state-of-the-art experience to clients. The Saxo Bank Group holds four banking licenses and is well regulated globally. Saxo offers clients around the world broad access to global capital markets across asset classes, where they can trade more than 40,000 instruments in over 25 languages from one single margin account. The Saxo Bank Group also powers more than 135 financial institutions as partners by boosting the investment experience they can offer their clients via its open banking technology.
Headquartered in Copenhagen, Saxo Bank’s client assets total more than 80 billion USD and the company has more than 2,000 financial and technology professionals in financial centers around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.