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| In Marchie 2007 ABN AMRO announced that it was bidding US$227mn for a 93.4% stake in Pakistan's Prime Bank, and would tender for the remainder. Prime Bank is Pakistan's 19th largest bank and has 52 billion rupees worth of assets and 41 billion rupees in deposits. It has a network of 69 branches in 25 Pakistani cities. The acquisition, when combined with ABN AMRO's existing operations, would make ABN AMRO the second largest foreign bank in Pakistan (after the ], and put it among the 10 largest banks in the country. | In Marchie 2007 ABN AMRO announced that it was bidding US$227mn for a 93.4% stake in Pakistan's Prime Bank, and would tender for the remainder. Prime Bank is Pakistan's 19th largest bank and has 52 billion rupees worth of assets and 41 billion rupees in deposits. It has a network of 69 branches in 25 Pakistani cities. The acquisition, when combined with ABN AMRO's existing operations, would make ABN AMRO the second largest foreign bank in Pakistan (after the ], and put it among the 10 largest banks in the country. | ||
| It is the worst Bank in the world. | |||
| ==Offices== | ==Offices== | ||
Revision as of 13:07, 30 October 2007
| File:ABN AMRO.png | |
| Company type | Public (Euronext: AAB, NYSE: ABN) |
|---|---|
| Industry | Financial services |
| Founded | 1991 |
| Headquarters | Amsterdam, the Netherlands |
| Key people | Rijkman Groenink (CEO), Mark Fisher (nominated CEO) |
| Products | Asset management Commercial banking Investment banking Private banking Retail banking |
| Revenue |  €19.827 billion (2005) |
| Operating income | 8,618,000,000 Euro (2023)  |
| Net income | 2,697,000,000 Euro |
| Total assets | 369,970,000,000 Euro (2023) |
| Number of employees | 105,000 |
| Subsidiaries | ABN AMRO Bank N.V |
| Website | www.abnamro.com |
ABN AMRO (Euronext: AAB, NYSE: ABN) was in the period of 1991 till 2007 one of the largest banks in Europe and had operations in about 63 countries around the world. Originated in the Netherlands, its history dated back to 1824. A consortium of three European banks, Royal Bank of Scotland Group, Fortis and Banco Santander, announced on October 8, 2007, that an offer for 86% of outstanding ABN AMRO stock has been accepted, making way for the largest ever bank takeover in history.
ABN AMRO is listed on Euronext Amsterdam and the New York Stock Exchange. It was part of the AEX index, until October 11, 2007. It was removed from the Euronext 100 index on October 12, 2007. On November 1, an extraordinary shareholder meeting will be held, to change the bank's management.
Business units
The business units of ABN AMRO are currently organised by regions:
- The Netherlands
- Europe (excluding the Netherlands)
- North America
- Latin America
- Asia Pacific
Some of the specialty products and clients of ABN AMRO Bank have a global presence:
- Private Clients
- Global Clients
- Global Markets
- Transaction Banking
- Consumer Banking
- Asset Management
Further, the support functions of ABN AMRO are divided into two global business units:
- Group Functions
- Services
ABN AMRO ranks eighth in Europe and 13th in the world based on total assets, with more than 4,500 branches in 53 countries, a staff of over 110,000 full-time equivalents and total assets of €999 billion (as of September 30 2006).
The bank has developed a strategy of having three home markets: The Netherlands, the United States, and Brazil. The U.S. commercial banking operations of ABN AMRO consist of LaSalle Bank in Chicago, Illinois and LaSalle Bank Midwest in Detroit, Michigan which operate under the name LaSalle Bank Corporation. LaSalle Bank Midwest is the former Standard Federal Bank, which changed its name on September 12 2005. ABN AMRO also used to operate ABN AMRO Mortgage Group, one of the leading mortgage servicing companies in the US, but in January 2007 it sold this business to Citigroup. In Brazil, ABN AMRO's subsidiary is Banco Real. Banco Real recently completed an acquisition of Sudameris, a peer bank in the Brazilian market.
In 2005 ABN AMRO acquired Banca Antonveneta of Italy, this effectively gave it a fourth home market. Antonveneta had been a cooperation partner for some years and has a similar client base to ABN AMRO.
In Marchie 2007 ABN AMRO announced that it was bidding US$227mn for a 93.4% stake in Pakistan's Prime Bank, and would tender for the remainder. Prime Bank is Pakistan's 19th largest bank and has 52 billion rupees worth of assets and 41 billion rupees in deposits. It has a network of 69 branches in 25 Pakistani cities. The acquisition, when combined with ABN AMRO's existing operations, would make ABN AMRO the second largest foreign bank in Pakistan (after the Standard Chartered Bank, and put it among the 10 largest banks in the country.
It is the worst Bank in the world.
Offices
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Headoffice ABN AMRO in Amsterdam
-
Headoffice ABN AMRO Insurance in Zwolle
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Renzo Piano designed the Australian offices in Sydney
Other investments and sponsors
- ABN AMRO sponsors AFC Ajax and owns 2.7% of a joint stock share in AS Roma.
- ABN AMRO sponsors a number of racing sailboats including two entries in the Volvo Ocean Race. On May 18 2006 one of the crew Hans Horrevoets, 32, died after being swept overboard in high seas. Although the boat turned around and picked him up he never regained consciousness, and died. The ABN AMRO-sponsored "ABN AMRO ONE" won the Volvo Ocean Race 2006
- ABN AMRO is the founding partner of NEWS, the platform for Dutch students abroad.
See also
References
- "RBS-led group says gets 86 pct of ABN shares". Reuters. 2007-10-08.
{{cite news}}: Check date values in:|date=(help) - http://news.bbc.co.uk/2/hi/business/6465651.stm
- "A.S. Roma SpA Ownership". Consob. 8 June 2007.
{{cite news}}: Check date values in:|date=(help)