Rabobank to sell online broker Alex - reports

Rabobank to sell online broker Alex - reports

Dutch banking group Rabobank is looking to sell off its online brokerage business Alex, according to unconfirmed local press reports.

The bank no longer considers the Alex unit as a core business unit, according to a report by AFX which cites a separate article by Dutch financial newspaper Het Financieele Dagblad.

Founded in 1999, Rabobank acquired the Alex business from Dexia Bank Nederland in Janaury 2003.

According to the AFX report rival Dutch online broker Binck Bank is a likely bidder for Alex, although foreign banks looking to tap into the European investment market may also be interested in the business.

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