UTRECHT, Netherlands, April 26, 2005 (PRIMEZONE) -- Today, Rabobank Nederland and Kredietbank Luxembourgeoise (KBL) have reached an agreement regarding the sale of Effectenbank Stroeve. KBL intends to merge Theodoor Gilissen Bankiers and Effectenbank Stroeve. The acquisition will make Theodoor Gilissen Bankiers a top five player in the private banking market in the Netherlands.
The objective of joining the forces of two leading players in private banking and investment advisory is to be able to offer a total banking concept to the upper segment of the private market in the Netherlands. The strategy of KBL Group European Private Bankers is focused on developing a European private banking network composed of players that each have their own identity and a strong reputation, and that are embedded in their local markets.
Theodoor Gilissen Bankiers (1881) and Effectenbank Stroeve (1818) correspond with this profile. Both organisations originated as securities houses (brokerage firms) and through the years they have followed different paths to secure a prominent position in the private banking market. Theodoor Gilissen Bankiers employs the traditional private banking model that focuses on providing asset management and securities bank services to external asset managers. Effectenbank Stroeve holds a strong position in the stockbroking segment (investment advice for active private investors) and is market leader in the field of providing services to external asset managers. The new combination has total assets under management of more than EUR 7.5 billion. The Board of Directors of the combination will be comprised of Roelf Rogaar as Chairman, Ron Doevendans and Cees Haasnoot. Mr Haasnoot will be appointed to the statutory Board of Directors of Theodoor Gilissen Bankiers and will be responsible for Effectenbank Stroeve until the integration is finalised.
Etienne Verwilghen, Chairman of the Board of Directors of KBL and member of the Executive Committee of KBC Group: "Pooling the resources of Theodoor Gilissen Bankiers and Effectenbank Stroeve will create a Dutch private bank that will be on an equal standing with the top players in the Dutch market in terms of both competencies and scale. The new combination fits in perfectly with our European strategy that is aimed at achieving one solitary objective: to provide a first-class service to our private banking clientele."
Roelf Rogaar, Chairman of the Board of Directors of Theodoor Gilissen Bankiers: "I am delighted that we are able to establish this combination. Superior client service is a critical success factor in the extremely competitive private banking market. Effectenbank Stroeve is a complementary firm that enjoys an excellent reputation and a successful track record in its market segments. The new combination will provide us with further opportunities for growth and will enable us to provide an even broader service to our clients."
Cees Haasnoot, Chairman of the Board of Directors of Effectenbank Stroeve: "Serving private clients is at the heart of our business. I look forward to tapping into the opportunities that are offered by joining forces with the leading private banking house, Theodoor Gilissen Bankiers. As a division of KBL, a solid group with a European dimension that focuses exclusively on private banking, we will possess all the necessary components to become an absolute top player in the Dutch market. Pooling our resources and creating economies of scale will also enable us to further optimise and invest in the services to external asset managers."
Piet van Schijndel, member of the Executive Board of Rabobank Nederland: "Theodoor Gilissen Bankiers and Effectenbank Stroeve constitute a high-opportunity combination within the KBL Group European Private Bankers. Uniting the forces of these two organisations will provide the clients of both banks with numerous benefits in the fields of products and services in the future." The agreement must still be approved by the relevant supervisory bodies and authorities. The works councils have also been requested to provide a recommendation.
Theodoor Gilissen Bankiers N.V.
Theodoor Gilissen Bankiers N.V. is a leading private bank founded in 1881. The bank offers a wide range of services to both private and institutional clients in the Netherlands and abroad:
-- private banking and asset management for wealthy individuals,
charitable and cultural institutions and institutional investors;
-- brokerage for professional clients;
-- securities banker for external asset managers;
-- corporate finance; trusted advisor for entrepreneurs, directors and
shareholders.
Theodoor Gilissen has offices in Amsterdam and The Hague. Theodoor Gilissen manages EUR 4.5 billion in assets and has approximately 200 employees.
For more information: www.gilissen.com
Effectenbank Stroeve N.V.
Effectenbank Stroeve N.V., founded in 1818, is the specialist in the field of investment advisory. Stroeve is dedicated to realising capital growth for private investors by providing active investment advice, research and asset management. The company furthermore provides securities-related services for external asset managers. As a custodial and administrative institution, Stroeve conducts a range of banking activities including executing stock exchange transactions, custody of funds and securities and providing reports.
Effectenbank Stroeve operates from Amsterdam. Stroeve manages EUR 3.2 billion in assets and has more than 100 employees.
For more information: www.stroeve.nl
Kredietbank S.A. Luxembourgeoise (KBL) European Private Bankers
The KBL Group European Private Bankers has developed within several years into an international network of prominent private bankers. The group currently has nearly 4,000 employees in eleven countries including Germany, France, the United Kingdom, Spain, Italy, Belgium and the Netherlands. The group announced a net consolidated group share of profit in 2004 of EUR 205.7 million, an increase of 6.5% in comparison to the previous year.
The KBL Group European Private Bankers is a division of the Belgian KBC Groep N.V., which is one of the most important bank insurance groups in Belgium and Central Europe. With market capitalisation of approximately EUR 24 billion, KBC Groep N.V. is one of the most important financial players in Europe. In the KBC Group, KBL Group European Private Bankers has the mission to expand the metier of private bankers on a European level.
For more information: www.europeanprivatebankers.com
Rabobank Groep N.V.
The Rabobank Group is the largest financial services provider in the Dutch market. Thanks to its co-operative foundation, the Rabobank Group is focused first and foremost on the customer. Creating customer value is its core objective. The Rabobank Group is the world's most creditworthy private financial group. It has over nine million private and business customers and is market leader in the Netherlands in virtually every area of financial services. The Rabobank Group currently consists of 288 independent local Rabobanks, which are all co-operatives and have a combined total of approximately 1.5 million members.
The Rabobank Group also encompasses a range of specialised business divisions, including Rabobank International (corporate banking, investment banking and international retail banking), Interpolis (Insurance), Robeco (asset management and investment funds), De Lage Landen (leasing and vendor finance), Gilde Investment Management (venture capital), Schretlen & Co (asset management), Alex (online broker), Rabo Real Estate (property finance and property development) and FGHbank (commercial real estate financing). The Rabobank Group is represented internationally with 244 locations in 37 countries.
For more information: www.rabobank.com
Attachments: http://hugin.info/133178/R/991227/149237.pdf
For more information: Contact Theodoor Gilissen R.E. Rogaar, Chairman of the Board of Directors Tel : +31 (0) 20 5570 459 Contact Stroeve C. Haasnoot, Chairman of the Board of Directors Tel: +31 (0) 20 5276 015 Contact KBL Ms M.-P. Gillen, General Secretariat Tel : +352 47 97 31 12 GSM: +352 021 351 497 Contact Rabobank J.W. ter Avest, Press Information Tel : +31 (0)30 2161 740