SNS Reaal Falls on Bad Loan Writedowns Report: Amsterdam Mover
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SNS Reaal NV, a Dutch bank and insurer struggling to wind down a money-losing real estate lending unit, fell the most in more than six months after a report said it may have to post a 1.8 billion-euro ($2.4 billion) writedown on property-finance loans.
The shares declined as much as 11 percent, the biggest drop since July 13, and closed at 91 euro cents in Amsterdam. They have fallen 11.7 percent this year, giving the Utrecht, Netherlands-based company a market value of 261.7 million euros.