The Dutch finance minister said yesterday he would look at whether those responsible for the mismanagement of SNS Reaal can be held accountable following last week’s €10 billion rescue of the country’s fourth-largest bank.

The banking and insurance group was nationalised on Friday after it failed to meet a deadline for securing a capital injection to cover heavy losses in its property finance business. The bulk of the costs will be borne by taxpayers, although other banks will have to contribute.

Finance minister Jeroen Dijsselbloem said the options were limited in terms of holding those responsible accountable for the losses.

But he said steps might be taken under civil law against those responsible for SNS Reaal’s failure. Sjoerd van Keulen was chief executive at the time. – (Reuters)