By Jan-Henrik Förster, Pamela Barbaglia And Ugur Yilmaz

Copyright independent

Brussels-based KBC is in the early stages of studying the feasibility of a deal, the people said, asking not to be identified because the information is private.

Shares of ABN Amro have gained 75pc in Amsterdam trading this year, giving the bank a market value of about €21.7bn.

The considerations come as the Dutch government continues to unwind its shareholding in ABN Amro, which it bailed out during the financial crisis.

KBC is still debating internally on the merits of the potential acquisition, and it is unclear if it will decide to move forward, some of the people said.

ABN Amro could also attract interest from other suitors. BNP Paribas SA and Deutsche Bank AG have both looked at the Dutch lender as a potential takeover target in recent years, Bloomberg News has reported.

“Referring to KBC Group’s earlier and repeated statements about its strategy, we are continuously monitoring the market to identify opportunities that strengthen our strategic goals, and we are committed to pursuing financially sound and sustainable growth,” a spokesperson for the Belgian bank said in a statement.

A spokesperson for ABN Amro declined to comment.

The Dutch government said this month it will gradually pare its stake in ABN Amro to about 20pc, from the previous level of 30.5pc.

The state spent almost €22bn to bail out the bank in 2008 and took it public again in 2015.

It has been selling down its shareholding since then, but remains the Amsterdam-headquartered bank’s largest shareholder.

Dutch finance minister Eelco Heinen said in a Bloomberg Television interview on Friday that he is “agnostic” about who buys ABN Amro shares.

Any major moves by the Dutch state are unlikely to take place before the country holds elections in late October, following the collapse of the coalition government led by prime minister Dick Schoof.

ABN Amro chief executive officer Marguerite Berard, who took the reins earlier this year, is scheduled to present the bank’s new strategy at a capital markets day in November.

Ms Berard, a former BNP Paribas executive, has so far vowed to cut costs and improve profitability at the Dutch lender, which in recent years has moved out of higher-risk businesses to focus on its core markets in the Netherlands and north-western Europe.

KBC, led by CEO Johan Thijs, has a market value of about €41.5bn.

He has been expanding the bank’s presence in central and eastern Europe, announcing in May an agreement to acquire Slovakia’s 365.bank for €761m.

Any deal would come amid an increase in mergers and acquisitions activity in the European banking industry.