ABN AMRO

ABN AMRO Bank N.V. is a Dutch universal bank headquartered in Amsterdam. The present-day institution operates primarily in the Netherlands, where it serves individuals, households, entrepreneurs, companies, institutions and high-net-worth clients. Its principal activities are personal and business banking, corporate and institutional banking, private banking, wealth management, payments, lending, mortgages, savings and selected capital-markets services. The bank is commonly associated with a combination of domestic scale, established financial expertise and a relatively focused international footprint. The modern ABN AMRO brand was created on 22 September 1991 through the merger of Algemene Bank Nederland (ABN) and Amsterdamsche en Rotterdamsche Bank (AMRO Bank). Both predecessors had substantial histories. ABN descended in part from Nederlandsche Handel-Maatschappij, founded in 1824 to support trade and finance connected with the Dutch East Indies, while AMRO was formed through the 1964 combination of Amsterdamsche Bank and Rotterdamsche Bank. The merger brought together extensive Dutch operations and international networks in Europe, Asia, the Middle East, the Americas and elsewhere. During the 1990s and early 2000s, ABN AMRO pursued an ambitious international expansion strategy. It acquired or developed businesses in areas including United States banking, Brazilian banking, Italian banking, securities and commodities trading, private equity and other specialist financial services. Important transactions included the acquisition of LaSalle National Bank, Standard Federal Bank, The Chicago Corporation, Banco Real and Antonveneta. The resulting group was much larger and more geographically diverse than the current bank. In 2007, ABN AMRO became the target of a contested takeover. A consortium comprising Royal Bank of Scotland, Fortis and Banco Santander ultimately acquired the group through RFS Holdings. The consortium divided the former bank by geography and business line: Fortis was to receive the Dutch and Belgian operations, Santander the Brazilian and Italian businesses, and RBS many wholesale, Asian and other international activities. The sale and subsequent breakup were accompanied by shareholder litigation and controversy over the disposal of LaSalle Bank to Bank of America. The transaction placed considerable pressure on the acquiring institutions just as the global financial crisis intensified. Fortis was nationalised in 2008, and the Dutch state acquired relevant Dutch Fortis activities and Fortis's interest in the former ABN AMRO operations for €16.8 billion. These assets were reorganised with Fortis Bank Nederland and other Dutch banking businesses. The resulting institution was rebranded ABN AMRO in July 2010, while assets retained by RBS remained in a separate organisation and were progressively renamed, sold or closed. Following restructuring and state ownership, ABN AMRO refocused on the Dutch market. It retained selected international capabilities, particularly where they supported Dutch clients or specialist activities, but no longer represented the broad global banking group that existed before 2007. The Dutch government returned the bank to public markets through an initial public offering on 20 November 2015, selling 20 percent of the shares to investors. ABN AMRO is a Significant Institution under European Banking Supervision and is directly supervised by the European Central Bank. Its current positioning rests on domestic banking relationships, digital and branch-based customer service, disciplined risk management and capital strength.

ABN AMRO’s institutional ancestry reaches back to nineteenth-century Dutch banking and trading finance. Nederlandsche Handel-Maatschappij was established in 1824 under King William I to stimulate trade and finance connected with the Dutch East Indies. It later merged with Twentsche Bank in 1964 to create Algemene Bank Nederland. Separately, Amsterdamsche Bank, founded in 1871, combined with Rotterdamsche Bank, founded in 1873, in 1964 to form Amsterdamsche en Rotterdamsche Bank, commonly called AMRO Bank. ABN and AMRO merged on 22 September 1991. The new group inherited domestic banking franchises and extensive overseas networks. In 1993, investment-banking subsidiaries Bank Mees & Hope and Pierson, Heldring & Pierson were combined into MeesPierson. ABN AMRO expanded further through acquisitions, including LaSalle National Bank in the United States, Standard Federal Bank, Michigan National Bank, The Chicago Corporation, Banco Real in Brazil and Antonveneta in Italy. The group also acquired Bouwfonds in 2000 and later sold it as a going concern. By the middle of the 2000s, the bank’s large international structure and performance were under pressure. In 2007, shareholders considered competing strategic alternatives after approaches from Barclays and an RBS-led consortium. The RBS, Fortis and Santander consortium prevailed, acquiring the bank and allocating its assets among the three institutions. LaSalle was sold separately to Bank of America after legal and shareholder disputes. The former ABN AMRO was consequently divided rather than operated as one integrated global group. The acquirers were badly affected by the financial crisis. Fortis was nationalised in October 2008, and the Dutch state acquired its Dutch operations and related ABN AMRO interests. These assets were combined with Fortis Bank Nederland and other businesses. The legal demerger in 2010 separated the Dutch state-controlled bank from operations remaining with RBS, and the Fortis name was removed from the reorganised Dutch institution. The new ABN AMRO concentrated on personal, commercial, corporate and private banking in the Netherlands, while disposing of or closing many inherited international activities. The Dutch government began reprivatisation through an IPO on 20 November 2015, initially selling 20 percent of the shares. The bank has since remained a listed institution with a primarily Dutch operating model. Under European Banking Supervision it is classified as a Significant Institution and is directly supervised by the European Central Bank. Its post-crisis identity is therefore narrower than that of the pre-2007 international group, combining Dutch universal banking with selected international, specialist and wealth-management services.

1. 2015IPO and relisting

   The Dutch government relisted ABN AMRO on 20 November and sold 20 percent of the shares to the public.

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2. 2010Reorganised bank rebranded ABN AMRO

   The Dutch banking operations were reorganised and the Fortis name was dropped from the resulting institution.

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3. 2008Dutch state acquisition

   The Netherlands acquired relevant Dutch Fortis and ABN AMRO assets during the financial crisis for €16.8 billion.

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4. 2007RFS consortium acquisition

   The RBS, Fortis and Santander consortium acquired ABN AMRO and divided its operations.

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5. 2006Antonveneta acquired

   The group acquired the Italian bank Antonveneta during its international expansion period.

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6. 1998Banco Real acquired

   ABN AMRO expanded its Brazilian banking presence through the acquisition of Banco Real.

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7. 1993MeesPierson formed

   Bank Mees & Hope and Pierson, Heldring & Pierson were combined into MeesPierson.

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8. 1991ABN and AMRO merge

   The two Dutch banks merged on 22 September to create ABN AMRO.

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9. 1964ABN and AMRO predecessor combinations

   Nederlandsche Handel-Maatschappij merged with Twentsche Bank to form ABN, while Amsterdamsche Bank and Rotterdamsche Bank formed AMRO Bank.

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10. 1824Nederlandsche Handel-Maatschappij established

    The trading and finance company established in 1824 became one of the principal historical predecessors of ABN AMRO.

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A Netherlands-centered universal bank serving retail, business, corporate, institutional and affluent customers, with selected specialist and international activities.

• Personal Bankingretail_banking

  Services for individuals and households, including current accounts, payments, savings, mortgages and consumer finance. Personal banking is a core part of ABN AMRO’s Dutch franchise and is delivered through digital channels and other customer-service formats.

• Corporate Bankingcommercial_banking

  Banking for companies and institutions, covering business accounts, lending, cash management, trade finance and related financial solutions. The offering supports Dutch businesses as well as selected clients with international banking needs.

• Private Bankingwealth_management

  Wealth-management and private-banking services for affluent and high-net-worth customers. Services include investment advice, portfolio management, asset allocation and tailored financial planning.

• Investment and Capital Markets Servicesinvestment_banking

  Selected securities, financing, advisory and capital-markets services for corporate and institutional customers. The current business should not be confused with the much broader wholesale and investment-banking operations of the pre-2007 ABN AMRO group.

• 2015Return to public ownership structureM&A

  After several years of state ownership and restructuring, the Dutch government began returning the bank to public markets.

  What changed. ABN AMRO was relisted through an IPO, with 20 percent of the shares sold to the public on 20 November 2015.

  Aftermath. The bank resumed its status as a listed Dutch financial institution.

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• 2008Nationalisation and Dutch banking restructuringStrategy

  Fortis came under severe financial pressure after the acquisition as the global financial crisis developed.

  What changed. The Dutch state acquired relevant Fortis and former ABN AMRO Dutch assets, later combining them into a reorganised bank.

  Aftermath. The institution was rebranded ABN AMRO in 2010 and refocused on Dutch personal, corporate and private banking.

  Acquisition price for relevant Dutch Fortis and ABN AMRO assets. €16.8 billion (2008)

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• 2007Accept RFS consortium takeoverM&A

  ABN AMRO faced competing approaches from Barclays and a consortium led by Royal Bank of Scotland with Fortis and Banco Santander.

  What changed. The RFS consortium acquired the group and allocated its businesses among the three participating banks.

  Aftermath. The former international group was broken up, with Dutch and Belgian operations assigned to Fortis, Brazilian and Italian operations to Santander, and many wholesale and other international activities to RBS.

  • Barclays — Barclays made a competing offer but withdrew its bid in October 2007.
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• 2006Research into predecessor links to slaveryControversy

  Research made public in 2006 examined 200 predecessor institutions founded before 1888 and identified connections for some institutions to African slavery in the United States or elsewhere in the Americas.

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• 2015ABN AMRO returns to the public market

  The Dutch government conducted an IPO and sold 20 percent of ABN AMRO shares to the public.

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• 2008Dutch state nationalises relevant Fortis and ABN AMRO operations

  During the financial crisis, the Dutch government acquired relevant Dutch banking assets and began restructuring them into a new ABN AMRO.

  BankruptcyM&ARegulation
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• 2007Consortium completes acquisition and breakup of ABN AMRO

  Royal Bank of Scotland, Fortis and Banco Santander acquired ABN AMRO through RFS Holdings and divided its businesses and geographic operations.

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• 1991ABN AMRO created through merger of ABN and AMRO Bank

  Algemene Bank Nederland and Amsterdamsche en Rotterdamsche Bank merged to form the modern ABN AMRO group.

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1. ABN AMRO
2. ABN AMRO official website