UPDATE 1-SNS says strategy on track, won't speed up buys

(Adds detail, CFO comments, share price)

NOORDWIJKERHOUT, Netherlands, June 12 (Reuters) - Dutch banking and insurance group SNS Reaal (SR.AS: Quote, Profile, Research, Stock Buzz) has no plans to accelerate its acquisition strategy as it integrates two large recent insurance acquisitions, its financial chief said on Thursday.

"We're sticking to our strategy," SNS CFO Ronald Latenstein van Voorst, who was recently named to succeed as Chief Executive of the group, said on the sidelines of a business conference.

SNS, which went public in 2006 in order to raise funds to buy smaller banking and insurance firms to fuel growth, is still in the process of integrating the Dutch insurance operations of AXA and Swiss Life, Latenstein van Voorst said, adding that he feels no pressure to step up acquisitions.

SNS has avoided the worst of the credit crisis, and reported a slight fall in first quarter income due to lower interest income and poor equity returns. For 2007, its profit rose 25 percent to 465 million euros ($717 million) thanks to acquisitions.

The shakeup in the Dutch retail market -- such as the integration of ABN AMRO's Dutch operations into Fortis (FOR.BR: Quote, Profile, Research, Stock Buzz) and restructuring of ING's (ING.AS: Quote, Profile, Research, Stock Buzz) Postbank network -- is creating opportunities as well, Latenstein van Voorst said.

"We're seeing swings in deposits at the retail level," he said.

SNS is also active in the Dutch mortgage market, where there has been stiff competition over the past two years to sign up new mortgage borrowers and refinancing, and smaller players are much less active in that market, Latenstein van Voorst said.

SNS shares extended gains after Latenstein van Voorst's remarks, trading up 2.4 percent at 13.42 euros by 1135 GMT, compared to a 0.1 percent decline of the Amsterdam midcap index . (Reporting by Reed Stevenson; editing by Rory Channing)