April 10, 2019 / 6:50 AM / in 10 days

Sharp rise in firms seeking Dutch offices before Brexit - central bank

AMSTERDAM, April 10 (Reuters) - The Dutch central bank said the number of financial firms seeking to open offices in the Netherlands has risen sharply over the past six months, partly because some are seeking a continental office after Britain leaves the European Union.

De Nederlandsche Bank (DNB) said in a newsletter on Wednesday that 15 payment and electronic money institutions as well as 5 non-financial sector firms had opened in the country.

It added that the country’s financial markets regulator AFM had received a considerable number of licence applications from investment firms.

In all, there were 35 financial market license applications at the DNB, “particularly in the payment institutions and electronic money...sectors.” The bank did not say how many applications it normally receives.

The DNB said it expected the trend to intensify and noted that economic growth and Europe’s new Payment Services Directive, known as PSD2, also contributed.

Reporting by Toby Sterling; Editing by Kirsten Donovan

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