ABN Amro
 |
|
| Naamloze vennootschap under public ownership | |
| Traded as | Euronext: ABN |
| Industry | Financial services |
| Founded | 1991 |
| Headquarters | Amsterdam, Netherlands |
|
Key people
|
Gerrit Zalm (CEO) |
| Products |
Asset management Commercial banking Investment banking Private banking Retail banking |
 8.455 billion Euros (2015)
|
|
| Profit |
1.924 billion Euros (2015)
|
| AUM |
183.7 billion Euros (2014)
|
| Total assets |
390.317 billion Euros (2015)
|
| Total equity |
17.584 billion Euros (December 31, 2015)
|
|
Number of employees
|
22,048 (2015) |
| Website | www.abnamro.com |
ABN AMRO Bank N.V. is a Dutch bank with headquarters in Amsterdam. ABN AMRO Bank is the third-largest bank in the Netherlands. It was re-established in its current form in 2009, following the acquisition and break-up of the original ABN AMRO by a banking consortium consisting of Royal Bank of Scotland Group, Santander Group and Fortis. Following the collapse of Fortis, who acquired the Dutch business, it was nationalized by the Dutch government along with Fortis Bank Nederland. It was relisted as public company again in 2015.
The bank is a product of a long history of mergers and acquisitions that date to 1765. In 1991, Algemene Bank Nederland (ABN) and AMRO Bank (itself the result of a merger of the Amsterdamsche Bank and the Rotterdamsche Bank in the 1960s) agreed to merge to create the original ABN AMRO. By 2007, ABN AMRO was the second-largest bank in the Netherlands and the eighth-largest in Europe by assets. At that time the magazine The Banker and Fortune Global 500 placed it 15th in the list of world’s biggest banks and it had operations in 63 countries, with over 110,000 employees.
In October 2007, a consortium of the Royal Bank of Scotland Group, Fortis and Banco Santander, known as RFS Holdings B.V. acquired the bank, in what was the world's biggest bank takeover to date. Consequently, the bank was divided into three parts, each owned by one of the members of the consortium. However, RBS and Fortis soon ran into serious trouble: the large debt created to fund the takeover had depleted the banks' reserves just as the financial crisis of 2007–2010 started. As a result, the Dutch government stepped in and bailed out Fortis in October 2008, before splitting ABN AMRO's Dutch assets (which had primarily been allocated to Fortis) from those owned by RBS, which were effectively assumed by the UK government due to its bail-out of the British bank. The operations owned by Santander, notably those in Italy and Brazil, were merged with Santander, sold or eliminated.
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Wikipedia