The Amsterdamsche en Rotterdamsche Bank (AMRO Bank, lit. 'Bank of Amsterdam and Rotterdam') was a major Dutch bank that was created in 1964 by the merger of the Amsterdamsche Bank (est. 1871) and the Rotterdamsche Bank (est. 1863).[1] In 1991, it merged with Algemene Bank Nederland (ABN) to form ABN AMRO.
History
As early as 1939, there had been plans to merge the two banks but the banks shelved these plans in anticipation of Dutch involvement in World War II. The two banks announced their merger on 1964/06/11, and were integrated during the following year.[2]
As soon as the AMRO Bank was set up, it set about gaining market share in business lending, leasing and factoring as well as in medium to long term credit. To do this it established the Nationale Bank voor Middellang Krediet business unit to provide medium to long term credit. It established or acquired companies such as Mahuko (Society for leasing