The NIBC bank said on Tuesday it is entering the Dutch mortgage market with immediate effect, Nos television reports.
The market is currently dominated by the big three banks: Rabobank, ABN Amro and ING.
‘We have taken note of the demand for new players in the mortgage market,’ a spokesman told the Nos. ‘More competition is never a bad thing.’
For the time being the bank will only sell annuity mortgages, with a slightly lower interest rate than that offered by the three big banks.
The aim is to build the business to 5% of the market over a number of years.
NIBC, founded in 1945 to help finance post-war reconstruction, began offering savings accounts in 2008 and has €8.2bn in holdings.
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