Rabobank missed out on US takeovers

Non-listed Rabobank made efforts to take over banks in California and Australia but failed because it did not bid enough, CEO Bert Heemskerk says in an interview in Wednesday’s Financieele Dagblad.

‘We looked at two banks in California,’ he was quoted as saying. ‘We did not want to pay too much and we realised California and Florida were ahead in the housing crisis. But these two were so attractive we made offers,’ he said.
Heemskerk also says he saw greater potential for cross selling insurance to mortgage holders. At the moment the Dutch market leader sells insurance to one in five people taking out a mortgage, but that could go up to 40%, he was quoted as saying.

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