De Lage Landen to take over Achmea Bank's consumer loan portfolio
De Lage Landen and Achmea Bank have reached agreement on the transfer of the latter’s consumer loan portfolio to De Lage Landen. A purchase-agreement was signed by both parties earlier this week. Consumer lending is no longer part of parent company Achmea’s core business, but fits with De Lage Landen’s operations. The portfolio is valued at just over EUR 200 million. No other financial details are being disclosed.
All Achmea Bank staff who are directly connected with this portfolio will transfer to De Lage Landen. The parties expect to complete the transaction by 1 March 2011, subject to regulatory consent. Until then, Achmea Bank and De Lage Landen will work closely together to ensure the smoothest possible transition.
Jan Kusters, Chief Commercial Officer of De Lage Landen: ‘We are very pleased with the acquisition of this portfolio, which will strengthen our position in the consumer loan market. Existing customers of Achmea Bank will be given detailed information on this transfer as soon as possible. A high standard of service and excellent credit terms are our priorities.’
Jurgen Stegmann, interim Chairman of Achmea Bank: ‘Consumer credit ceased to be a core business for our parent company Achmea some time ago. We are pleased to have found a good home for our portfolio in De Lage Landen, in the best interests of both customers and staff.’