DSB Bank Must Find Buyer or Face Bankruptcy

By BART KOSTER

AMSTERDAM -- Time is running out for troubled Dutch lender DSB Bank NV, after an Amsterdam court ordered it to find a buyer by Friday or face being declared bankrupt. But the bank's owner said he remains confident of keeping the operation alive.

The court told unlisted DSB Bank, which was placed into administration Monday by the Dutch Central bank after a run on deposits, that it has until 11 a.m. local time to talk with "major banks" to find a buyer.

If no "realistic chance" for a takeover of the privately owned Dutch savings and mortgage bank can be worked out, DSB will be declared bankrupt, the court said. If a takeover can be worked out, the case will be discussed in a closed court session later Friday, it added.

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Posted By: Sara Sindelar