Rabobank sells part of mortgage portfolio to La Banque Postale S.A.
24 October 2017
Rabobank has sold a share of its mortgage portfolio worth around EUR 600 million to La Banque Postale. Rabobank will retain the full servicer responsibility towards its clients.
The underlying mortgage portfolio of around EUR 600 million corresponds to 3,600 loans orginated by Rabobank that all have the benefit of a NHG guarantee, which is backed by stichting Waarborgfonds Eigen Woningen (WEW).
In line with previous transactions, this sale has no consequences for the servicing relationship. Clients will keep their contacts with Rabobank: the mortgage contract and conditions which were agreed between Rabobank and the customer remain unchanged.
Freeing up capital and funding
Rabobank is a leading mortgage provider in the Netherlands with a total mortgage portfolio amounting EUR 194.5 billion (including Obvion). This transaction – representing 0.26 per cent of the bank’s total portfolio - enables Rabobank to free up locked capital and funding on its balance sheet, which can be relocated to grant new mortgages and loans to clients. As such, this transaction helps Rabobank to further implement its balance sheet optimizing strategy, while underlining Rabobanks ongoing commitment to its clients.