FACTBOX-What has happened to more than 30 bailed-out European banks

Aug 21 (Reuters) - Nationalised Dutch lender ABN Amro IPO-ABN.AS said on Friday that it is on track for its proposed listing this year, which would mark the return to private hands of one of the biggest banks rescued in the 2007/09 financial crisis.

Britain this month started selling its stake in Royal Bank of Scotland, which was the recipient of the biggest European bank bailout.

The following is a summary of bank rescues across Europe and their aftermath:


KBC received 7 billion euros ($7.87 billion) in 2008 and 2009, half from the Belgian state, the rest from the northern region of Flanders. It has repaid in full the money from the federal state and repaid two instalments to Flanders. It plans to repay the balance by the end of 2017.

Dexia required three bailouts totalling more than 15 billion euros from France, Belgium and Luxembourg, which included the sale of its Belgian bank. Dexia is no more than a holding of outstanding loans and bonds that is being wound down.

Fortis received an 11.2 billion euro bailout by the Benelux countries in 2008 after buying the Dutch operations of ABN Amro. After the Netherlands bought the Dutch divisions of Fortis, Belgium split up the remaining business, farming off the Belgian banking arm to BNP Paribas, creating a bad bank of toxic assets and leaving rump Fortis as a Belgian-based insurer rebranded as Ageas. Royal Park Investments, the bad bank, was sold for 6.7 billion euros.


The island injected 1.5 billion euros into Co-Op Bank in 2013 from funds provided in an international bailout package.


Germany pumped 18.2 billion euros into Commerzbank , the country’s second-largest bank. The government, whose shareholding has dropped to 15.6 percent from 25 percent, is expected to start selling from 2016. Analysts estimate the state’s break-even price at about 26 euros per share, more than double its current price of less than 11 euros.

Aareal Bank received 525 million euros in 2009 from the state’s stabilisation fund, which has been repaid in full.

Real estate and government finance lender Hypo Real Estate received 9.8 billion euros in capital and is still 100 percent owned by the fund, though a part of the group, Deutsche Pfandbriefbank, was floated in July.


Greece pumped 25 billion euros into its banks via a stability fund in 2013, which consolidated the industry and left it owning some of the four major banks. At the end of March the fund owned 57 percent of National Bank of Greece, 66 percent of Alpha Bank, 35 percent of Eurobank and 67 percent Piraeus Bank.

Athens needs to recapitalise the lenders again and wants to do so by the end of the year as part of the country’s third international rescue programme. The four big banks are expected to need an additional 10 billion euros to 25 billion euros.


Iceland nationalised its banks after the collapse of its financial system in 2008, putting Kaupthing, Landsbanki and Glitnir into liquidation and imposing strict capital controls.

The government started to ease the controls in June but has not set out plans to return banks to the private sector.


Dublin pumped 64 billion euros into its banks, about half of which was swallowed by Anglo Irish Bank and Irish Nationwide building society, almost all of it never to be recouped after they were put into liquidation in 2013.

It pumped 4.8 billion euros into Bank of Ireland (BoI) and 20.7 billion euros into Allied Irish Banks , leaving it with 14 percent of BoI and more than 99 percent of Allied. It has turned a profit on its BoI investment, including fees. The government plans to sell about 25 percent in Allied later this year or in 2016 and has promised to regain all its money.

The government also rescued permanent tsb, selling some of it this year, and is running down assets from the state’s NAMA “bad bank”, which expects to make a 1 billion euro profit by 2018.


The Dutch government paid more than 40 billion euros to rescue the domestic banking sector, nationalising ABN Amro and SNS Reaal, and injecting 10 billion in cash into ING.

ABN Amro IPO-ABN.AS, which is aiming for an initial public offering by the end of the year, was nationalised together with the Dutch operations of its would-be acquirer Fortis in an operation that cost taxpayers about 28 billion euros. ABN Amro's book value is about 15.6 billion euros. The former Fortis insurance arm ASR is valued at 3.8 billion.

The state also nationalised SNS Reaal at a cost of 3.7 billion euros and plans to sell the bank, which has a book value of about 2 billion euros.

ING, the largest Dutch lender, has repaid the 10 billion euro state bailout it received in 2008 as well as 3.5 billion euros in interest. ING sold operations and spun off its insurance subsidiary NN Group, in which it retains a minority stake.


Portugal’s international bailout had a 12 billion euro recapitalisation line for banks, of which about half has been used by Millennium BCP, Banco BPI and smaller bank BANIF.

Millennium BCP took 3 billion euros in 2012 in bonds that give the state voting rights if not repaid on time after five years. The bank has repaid all but 750 million euros and has until early 2016 to pay the rest.

BPI last year became the first bank to repay all of its 1.3 billion euros in high-interest bonds.

BANIF has repaid 275 million euros out of 400 million euros in contingent capital. The state also took 700 million euros in BANIF shares, which are now being offered to shareholders.

State-run Caixa Geral de Depositos tapped the state for 1.65 billion euros in 2012, including 900 million euros in contingent capital and the rest in direct capital. It has not paid back any CoCos yet.


Spain injected more than 60 billion euros into its financial sector from 2009 and is unlikely to recover that after several nationalised banks were sold to other lenders at a loss.

The government is hoping to recoup as much as possible from Bankia, Spain’s fourth-biggest lender, of which it still owns a little more than 60 percent. The lender needed 22.4 billion euros in bailout funds.

Spain started selling its Bankia stake in early 2014, turning a small profit, though it has yet to resume the sell-off and the shares are trading below the government’s purchase price of 1.35 euros per share.


Switzerland pumped 6 billion Swiss francs ($6.2 billion) into UBS in 2008, and later sold the stake at a profit. UBS also offloaded about $39 billion of toxic assets to a fund owned by the Swiss central bank as part of the rescue, which the bank bought back in 2013.


Britain pumped 66 billion pounds ($103.5 billion) into RBS and Lloyds during 2008/09 and provided tens of billions more in liquidity support to the sector.

Losses from the RBS bailout could dwarf profits made on other rescues. The government injected 45.8 billion pounds into RBS, giving the state a 78 percent stake. It recouped 2.1 billion pounds this month and cut its holding to 73 percent but is sitting on a paper loss of 15 billion pounds, based on the current stock price and its average purchase price of 502 pence. Britain plans to sell most of the stake by 2020.

Britain pumped 20.5 billion pounds into Lloyds, giving it a 43 percent stake. The government began selling shares at a profit in September 2013, has cut its stake to less than 14 percent and is on course to make a 2 billion pound profit on Lloyds when it is fully returned to private hands next year.

Britain also nationalized Northern Rock, which was split into two parts, with the “good bank” sold to Virgin Money and Bradford & Bingley. The state provided funding support and is running down their loan books, probably at a profit. ($1 = 0.8894 euros) ($1 = 0.6376 pounds)

Reporting by Reuters bureaus; Editing by Steve Slater and David Goodman