Jaap van Dijk, head of the Property Finance division of SNS Reaal, has resigned, according to sources at the company quoted in the Telegraaf.

The troubled property division lost €941m on its loans in 2012, a figure that had to be written off by the financial services group. In total, the group posted a loss of €972m in 2012. It was nationalised by the government earlier this year.

According to the sources, Van Dijk is fed up with the continuous negative reporting on Property Finance. He is a controversial figure, accused of ignoring signs of maladministration and fraud in the company, the paper says.

Van Dijk will leave on June 24 and will be replaced by Hans Copier, country manager of property consultant CBRE Global Investors.