Overview of the banking system of the Netherlands

Overview of the banking system of the NetherlandsThe banking system of the Netherlands includes the central bank as a major financial institution in the country and numerous commercial, mortgage, savings and other banks.

The functions of the central bank performs the Bank of the Netherlands (De Nederlandsche Bank) founded in 1814, whose headquarters are in Amsterdam. It acts as a state-owned bank, as a lender and “bankers’ bank”.

The Bank of the Netherlands ensures fiscal and operational supervision over the officially registered financial institutions. Fiscal supervision includes monitoring compliance with the liquidity and solvency of credit institutions prescribed level and licensing agencies after their foundation. The Central Bank has the authority to license foreign exchange transactions, but in fact he communicated the functions of commercial banks. The central bank act as intermediary in international payments, it also oversees the issuance of securities in the domestic market (it doesn’t engage in commercial transactions).

The Dutch banking system is represented by such banks as ABN AMRO Bank, ING Groep NV and Rabobank.
ABN AMRO – one of the largest banks in the Netherlands, with a history dating back to 1824. In the ranking in terms of total assets, ABN AMRO ranks eighth in Europe and the thirteenth in the world. The Bank has 4500 branches in 53 countries and employs more than 105 thousand people. The bank’s total assets amounted to EUR 1,120,100,000.

ING Groep NV is the Dutch financial services group offering services in banking, insurance and asset management. ING abbreviation stands for Internationale Nederlanden Groep (International Netherlands Group). The company ranked 8th in the Fortune Global 500 in late 2009.

Rabobank Group is an international financial services provider operating on the basis of cooperative principles. It offers banking, asset management, leasing, insurance and real estate services. The emphasis is on broad financial services provision in the Netherlands, and especially in food and agribusiness internationally. Rabobank Group has approximately 59,000 employees who serve approximately 10 million customers in 48 countries. From the standpoint of Tier 1 capital, Rabobank Group is one of the world’s 25 largest financial institutions.

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