The Dutch state is close to recouping the full cost of the 2008 nationalisation of ABN Amro, after a share price rally took the bank’s stock above €40 this week, according to calculations by the Financieele Dagblad. That brings the total close to the €21.7 billion the ministry says has been pumped into the bank since 2008. ABN Amro returned to the stock market in 2015, but the share price languished for years and the sell-off repeatedly stalled. Former D66 finance minister Sigrid Kaag restarted the sales in 2023, and every tranche since has fetched a higher price. The windfall will not plug the cabinet’s budget gaps, however, as one-off share sales cannot be counted towards the deficit under EU rules.