Dutch lender ABN AMRO Bank has officially wrapped up its previously announced acquisition of mobile brokerage company BUX for an undisclosed sum.
Through the deal, the Dutch bank aims to strengthen its digital offering apart from providing a unique and comprehensive investment proposition. It is also expected to contribute towards ABN AMRO’s growth ambition.
BUX, on the other hand, by joining ABN AMRO, will gain access to resources, investment expertise, and support to continue its growth and innovation.
Announced in December 2023, the transaction has closed following the receipt of regulatory approvals.
BUX is now a fully owned subsidiary of ABN AMRO. The Netherlands-based mobile brokerage company will continue to operate as a separate entity.
Established in 2013, BUX is said to be one of the most rapidly growing neobrokers in Europe with 500,000 clients, and operations across eight global markets.
BUX CEO Yorick Naeff said: “Through this collaboration, we combine ABN AMRO’s extensive expertise in personal finance and investing, and its years of experience with the capabilities offered by BUX’s accessibility, knowledge of future generations and user-friendly investment platform.
“This allows us to better serve the new generation of investors while maintaining our speed, agility and unwavering commitment to innovation.”
The collaboration between ABN AMRO and BUX will deliver step-by-step guidance along with more expertise and a wider portfolio for seasoned investors.
Both parties intend to offer investment services for individuals with a seamless and superior customer experience.
The clients of ABN AMRO and BUX are expected to gain from innovative developments designed to improve their investment journeys.
ABN AMRO personal and business banking chief commercial officer Annerie Vreugdenhil said: “We want to be there for our clients for every new beginning. In combination with BUX, we can help clients begin to take control of their financial future at an early stage in their lives.
“BUX has made this extremely easy through their innovative and user-friendly platform. We cannot wait to build on that and improve our offering for future generations.”
