ABN AMRO to acquire European neobroker BUX

By Gloria Methri

Netherlands-based ABN AMRO Bank has signed an agreement to acquire BUX, one of Europe’s most rapidly growing neobrokers. With this acquisition, ABN AMRO aims to strengthen its footprint in the retail investment space and substantially enhance its digital offering.

Founded in 2013, BUX is one of Europe’s leading neobrokers with 500,000 clients and operating across eight markets. The company brings advanced financial technology, a user-friendly and intuitive platform, and a brand that caters to the new generation of investors.

The acquisition gives ABN AMRO and BUX a strong position in the Netherlands for investors who want to start building their wealth. Acquiring BUX also contributes to ABN AMRO’s pan-European growth ambition.

Annerie Vreugdenhil, ABN AMRO’s Chief Commercial Officer Personal & Business Banking said, “It is a lot more common now for people to start thinking well ahead about their financial future and to take control of it themselves. Over the past few years, BUX has excelled in helping clients who want to do exactly this. Welcoming BUX into the ABN AMRO family will create a unique combination of innovative user-friendliness and financial strength, stability and expertise – a powerful foundation for future growth (in the private investment domain), both for our clients and for the bank itself.”

Yorick Naeff, CEO of BUX said, “We have always had the ambition to be the leader in Europe’s retail investment arena, and joining forces with ABN AMRO is a crucial stride towards achieving this goal. We strongly believe that at BUX, our speed, agility, and relentless drive for innovation, merged with ABN AMRO’s deep expertise in personal finance and decades-long reputation, form a synergy unparalleled in the entire investment sector.”

Together, BUX and ABN AMRO offer an attractive range of investment and savings products, both to new investors who want to explore the world of investments, and to more experienced clients with larger investment portfolios who are looking for expertise to help them achieve their goals. The acquisition does not encompass BUX’s cryptocurrency activities.

The transaction is subject to approval by the regulator and is expected to be finalised in 2024. The transaction is estimated to have a minor impact on the CET1 capital ratio.