The Dutch state’s stake in the Dutch bank ABN Amro has fallen below 50%, as reported by Finance Minister Sigrid Kaag in a letter sent to the lower house of parliament (Tweede Kamer), the NL Times reported on the 25th. of September.
According to the minister, in February the country owned just over 56% of the financial institution, but the State decided to gradually reduce its participation to just under 50%.
It is not yet known how much this sale contributed to the treasury, as it has not yet been fully completed. Kaag noted that while the revenue will help reduce the national debt, this does not mean the interim cabinet will have more room to increase spending.
Kaag said the plan to sell ABN Amro shares actually began with Mark Rutte’s third cabinet. He made these comments five months before the fall of Rutte’s fourth cabinet.
“The State came into ABN Amro not because we necessarily wanted to run the bank, but because it was about financial stability and security for many customers. This was during a crisis. The intention was always to be able to exit in stages at the right time,” Kaag said at the time.
Source: Rossa Primavera
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