Freo and Alfam Join Forces as One Credit Provider within Rabobank Group
- Investor Relations
Hans Sjouke Koopal
Sr Press Officer
Alfam and Freo, subsidiaries of ABN AMRO and Rabobank, are joining forces in the consumer credit market. Rabobank is acquiring Alfam, which mainly operates under the brand name Defam. Rabobank’s own consumer credit provider, Freo, will continue together with Alfam as a single provider. Customers can apply for loans through ABN AMRO, Rabobank, and intermediaries. They can also apply for a loan directly online. The transaction is subject to approval by the relevant regulators and is expected to be completed in the third quarter of 2026.
A Future-Proof Credit Provider
The consumer credit market is changing rapidly. Stricter regulations, digitalization, and the rise of alternative lending models call for scale, innovation, and a reliable, customer-focused provider. The two companies complement each other. Alfam’s strength lies in providing loans through intermediaries under the Defam brand, while Freo excels in direct customer service. This foundation will be further developed; therefore, the Freo and Defam brands will remain. The name of the company in which Freo and Alfam will continue together will be announced at a later date.
By merging Alfam and Freo, a robust, efficient, and future-proof credit provider is created. Customers can access services through various channels: via an intermediary at Defam, directly online at Freo, or through ABN AMRO and Rabobank. This way, all customers can continue to rely on excellent service and responsible lending.
A Logical Step
Annerie Vreugdenhil, Chief Commercial Officer Personal & Business Banking at ABN AMRO:“At ABN AMRO, we believe it is important to offer our customers valuable and responsible products. In the changing landscape of consumer credit, we are pleased that in the future we can offer personal loans together with Rabobank. Rabobank is a trusted name and a partner whose values and standards closely align with ours. We appreciate their commitment and expertise and have laid a strong foundation for good cooperation through exclusive discussions. We are confident that the new combination of Alfam and Freo, under Rabobank’s leadership, will continue to offer this type of credit with great care for the interests of customers.”
Carlo van Kemenade, Managing Board Member Retail Netherlands at Rabobank: “This step aligns with our ambition to strengthen our leading position in the Dutch retail market. Alfam and Freo will not only form an excellent credit provider ready for the future together, but the acquisition also opens the door to new collaborations with intermediaries from Defam’s network and with ABN AMRO. This creates opportunities for growth and ensures that Dutch consumers can continue to rely on a responsible offering of consumer credit.”
Integration
Rabobank has asked Ron van Vliet, in his current role as CEO of Freo, to prepare for the integration of both companies. Rabobank intends to appoint him as CEO of the new combined entity as of the integration date, subject to approval by the AFM.