Photo of me this evening, chatting with GEMINI. My name is Reint Jelger.

So, how many shares the Dutch government still hold in Abn Amro (my personal bank)

Gemini zei

As of March 2026, the Dutch government has significantly reduced its stake in ABN AMRO and is currently in the process of cutting it even further.

According to the latest reports from the NLFI (the state’s investment agency), here is the breakdown of their ownership:

Current Ownership Status

• Current Stake: Approximately 20% to 30.5%.
• The Trend: In late 2025, the Dutch government launched its fourth major «trading plan» to reduce its holdings from 30.5% down to a target of approximately 20%.
• Milestones: * May 2025: The stake officially dropped below 33.3% (one-third). This was a major legal milestone because it meant the government lost its «veto-like» approval rights over large investments or the issuance of new shares.
  • September 2025: The current sell-off plan began, aiming for that 20% mark.

Why does the state still own any of it?

The bank was nationalized in 2008 for roughly €22 billion during the financial crisis to prevent a total collapse. Since the IPO in 2015, the government has been «dripping» shares back into the market to avoid crashing the stock price while trying to recoup as much of the taxpayer money as possible.

What this means for you as a customer:

For your daily banking, nothing changes.

• The government acts as a «sleeping shareholder» through the NLFI to ensure they don’t interfere with the bank’s commercial decisions for political reasons.
• As their stake drops below 10% (the next big milestone), they will lose even more administrative rights, such as their say in appointing board members.

The long-term goal of the Dutch Ministry of Finance remains a full exit, meaning eventually, the state will hold 0% and ABN AMRO will be 100% privately owned.

Would you like me to look into how the bank’s latest profit reports or dividend payouts might affect the speed of this sell-off?

But ING bank is the biggest bank in the Netherlands? and the only one like on the international systemic important list right?

Gemini zei

You’ve got a sharp eye for the hierarchy! You are absolutely right on both counts, though there is one tiny technical distinction when it comes to «who is biggest.»

Here is how the «Big Three» in the Netherlands actually stack up in 2026:

1. Is ING the Biggest?

Yes and no. It depends on which «tape measure» you use:

• By Total Assets & Market Cap: ING is the undisputed heavyweight. With over €1 trillion in assets, it’s significantly larger than the others and is one of the top banks in Europe.
• By Dutch Market Share: It’s a neck-and-neck race. While ING has the most customers, Rabobank often holds more «assets on the ground» in the Netherlands (like mortgages), because ING is so spread out globally.
• ABN AMRO: Your bank comfortably holds the #3 spot. It’s smaller than the other two but is the dominant player in Private Banking (for the wealthy) and remains a powerhouse for corporate clients.

2. The «International Systemic» List (G-SIBs)

You hit the nail on the head. ING is indeed the only Dutch bank on the official Global Systemically Important Banks (G-SIB) list.

This list, maintained by the Financial Stability Board (FSB), includes about 29–30 banks worldwide (like JPMorgan, HSBC, and Santander) that are considered «Too Big to Fail» on a global scale.

• Why just ING? Because ING has a massive footprint in 40+ countries. If ING went under, it could trigger a global domino effect.
• What about ABN AMRO and Rabobank? They are classified as O-SIIs (Other Systemically Important Institutions). This means they are «Too Big to Fail» within the Netherlands, but their collapse wouldn’t necessarily crash the entire global financial system.

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The «Safety» Reality Check

Because ING is a G-SIB, it is forced by international law to hold a higher capital buffer (extra «emergency cash») than ABN AMRO.

However, because the Dutch state still owns a chunk of ABN AMRO (as we discussed), there has always been an unwritten assumption that the government would never let it fail—though legally, you are protected by the same €100,000 Deposit Guarantee Scheme regardless of which of these banks you use.

Are any banks in Switzerland partly state owned?

Gemini zei

Yes, absolutely. In fact, while your bank (ABN AMRO) is a bit of an outlier in the Netherlands for being state-owned, the «state-owned» model is actually a core pillar of the Swiss banking system.

However, in Switzerland, the ownership isn’t usually at the national (federal) level; it’s mostly at the Cantonal (state/provincial) level.

1. The Cantonal Banks (Kantonalbanken)

This is the most unique part of the Swiss system. There are 24 Cantonal Banks, one for nearly every canton in Switzerland.

• Ownership: By law, the Cantons must hold at least one-third of the capital and voting rights, but in reality, most are 100% owned by their respective local governments.
• The «State Guarantee»: This is the part that makes them famous. Most of these banks (like Zürcher Kantonalbank or ZKB) have a full state guarantee. This means if the bank ever ran out of money, the Canton (the taxpayers) would legally have to step in and cover 100% of all deposits—not just the standard limit.
• Purpose: Much like a public utility, they are mandated to support the local economy and provide mortgages to residents.

2. PostFinance (The Federal Option)

If you’re looking for a bank owned by the national government, that would be PostFinance.

• Ownership: It is a 100% subsidiary of Swiss Post, which is in turn 100% owned by the Swiss Confederation.
• The Catch: Because it is state-owned, it is actually restricted by law from issuing its own mortgages and large-scale commercial loans to avoid «unfair competition» with private banks. It primarily focuses on savings and payments.

3. What about the «Big» Banks? (UBS)

• UBS: Currently, the Swiss federal government does not hold a stake in UBS.
• The History: Back in 2008 (the same year the Dutch bought ABN AMRO), the Swiss government did have to bail out UBS with about 6 billion CHF. However, unlike the Dutch government, the Swiss sold their shares as quickly as possible, exiting entirely by 2009.
• Credit Suisse: When Credit Suisse collapsed in 2023 and was forced into a merger with UBS, the government provided massive liquidity guarantees (hundreds of billions), but they chose not to take an ownership stake this time.

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Summary Table: Who owns what?

Bank Type	Examples	Primary Owner
Cantonal Banks	ZKB, BCV, BEKB	The local Canton (State)
PostFinance	PostFinance	Swiss Confederation (National)
Global Banks	UBS	Private Shareholders
Raiffeisen	Raiffeisen	The customers (Cooperative)