ABN AMRO acquired BUX, an Amsterdam, The Netherlands-based newobroker.
The amount of the deal was not disclosed. The transaction is subject to approval by the regulator and is expected to be finalised in 2024. It is estimated to have a minor impact on CET1 capital ratio.
With this acquisition, ABN AMRO aims to strengthen its footprint in the retail investment space and enhance its digital offering.
Founded by Nick Bortot, and led by CEO Yorick Naeff, Bux is a neo-broker whose flagship platform, BUX Zero, makes commission-free investing accessible allowing people to invest in a large suite of shares or ETFs. The platform is currently available in the Netherlands, Germany, Austria, France and Belgium. The full range of the company’s products, including BUX Crypto which allows users to invest in real cryptocurrencies, and BUX X, where users can trade in contracts for difference (CFDs), are available across Europe.
FinSMEs
18/12/2023