Monday, May 14, 2007

SNS Reaal buys local bank franchise Regiobank from ING

This article (in Dutch) outlines that SNS Reaal has bought the local bank franchise concept: Regiobank, from ING Bank. It will continue the concept with the name: SNS Regio Bank.

It is interesting to note that this move outlines the further changes and sclae growth in the banking landscape. There will be big international players (ING) which leave the delivery of full domestic focus/service to the local players (SNS) that want to increase their current regional scope to a national level. Big banks become international and regional banks remain domestically focused.