Dutch bank nationalised
on 01/02/2013 17:25:43
The Dutch state's intervention was prompted by "huge blunders" made by the bank's top management costing the taxpayer huge amounts of money.
The Finance Ministry said in a statement that savings deposited in the country's fourth-largest bank were safe.
SNS Reaal has suffered recurring losses in recent years linked to its Property finance sector.
SNS Reaal is considered a systemically important bank, meaning it is too important to be allowed to go bankrupt.