FGH Bank sells loan portfolio to RNHB BV
FGH Bank has entered into an agreement with RNHB B.V. on a contemplated sale a part of its loan portfolio with an outstanding balance of approximately EUR 1.3 billion. The closing of the transaction is expected to take place in the second quarter of 2018, subject to necessary regulatory approvals and successful completion of the consultation process with the employee representative bodies. RNHB B.V. is fully committed to continue to serve FGH’s customers.
The transaction fits Rabobank's commercial real estate strategy. Loans and customers of FGH Bank that are in line with the strategy have been transferred to Rabobank in 2017. FGH Bank N.V. intends to phase out its activities in the course of 2018. FGH Bank N.V. would then cease to exist as a separate legal entity.
The contemplated purchase of the FGH portfolio fits in RNHB B.V.’s strategy very well. RNHB B.V. has the ambition to expand its business through organic growth and selective portfolio acquisitions and welcomes the FGH clients within RNHB B.V.. RNHB B.V. looks forward to continuing to work with FGH customers.
RNHB B.V. is a leading buy-to-let and mid-market CRE lending business, with knowledge about the national, regional and local real estate market. It provides loans for commercial real estate and for residential properties intended for rental or resale. RNHB offers tailor-made solutions for the middle segment of the real estate market and has both credit, real estate and construction know-how.