Reuters reported that SNS Securities is looking forward to sell its private banking business following the losses incurred by it on property loans.
SNS Securities declined to comment on the private banking business’s financial performance.
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In November 2012, SNS Reaal said it might announce restructuring measures early 213, possibly including asset sales, a share issue, and the conversion of state aid into shares.
Currently, SNS Securities employs about 25 people and bank ten Cate manages more than EUR1 billion for its clients, and employs about 35 people, Reuters added.
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