The Dutch state is selling a further batch of shares in financial services group ABN Amro, taking its stake down from 40.5% to around 30%, finance minister Eelco Heinen said on Tuesday.

The previous sale, which generated €1.17 billion for the treasury, was finalised last month.

As last month, Heinen said on Tuesday the money raised “will reduce the budget deficit but will not have an impact on the cabinet’s budgetary options”.

ABN Amro was nationalised during the 2008 financial crisis and the rescue deal cost the state nearly €27 billion in total. In 2015, the state sold a minority shareholding in the financial services group via an IPO. Since then it has sold off shares in several batches.

Heinen told MPs in a briefing last month the state will not recuperate its investment in rescuing the bank because that would require the entire remaining stake to be sold at a share price of €31.49.

ABN Amro shares were trading at €15.74 on Tuesday.

“It is not realistic that such a price will be reached in the short term,” he said last month. “ABN Amro came into state ownership to ensure the stability of the financial system and not as an investment to make returns.”

The Dutch state also has a stake in the Volksbank banking group which it nationalized in 2013 after the bank ran into major problems with its property portfolio.