The Dutch government has sold off a 7% stake in ABN Amro bank for €1.6bn. The divestment involves 65 million ordinary shares in ABN representing 7% of total issued shares.

The government’s stake in what was once the country’s largest bank has fallen to about 56% from 63% since the 2008 credit crisis. In mid-June, the state sold another 7% tranche in the bank for €1.5bn.

The government plans to sell its remaining 60% interest in ABN Amro in due course. ABN Amro was nationalised after the credit crisis, reappearing on the Amsterdam bourse on 20 November 2015 when a 23% stake was floated.

Earlier this week, the state completed its sale of insurance company ASR, which it took over nine years ago when the Fortis empire was dismantled.

The state bought ASR for €3.65bn and has sold it off in several tranches. The sales price, excluding dividends, has raised €3.77bn for the treasury.