ABN AMRO Contemplating Sale of its Asia Private Banking Business
ABN AMRO NV is exploring the sale of its Asia Private Banking Business. This is according to several sources in the bank who said the bank has reached out to potential buyers to gauge interest.
ABN AMRO is enforcing 200 million euros of cost cuts as competition, regulatory pressures and low interest rates have caused earnings to decline since the bank returned to the stock market.
News Source: Bloomberg
About ABN AMRO
ABN AMRO has a long-standing history in banking with certain of its business operations having roots in the early 18th century. The bank serves retail, private and corporate banking clients with a primary focus on the Netherlands and with selective operations internationally. ABN Amro’s colour code (green and yellow) communicate the message of ABN Amro shield. Green symbolises unchanging values and stability. Yellow symbolises optimism for the future. Used together, these colours convey aspiration. An ambition that inspires recognition.
- Origin : Amsterdam, Netherlands
- Assets : EUR 390.3 billion
- Revenue : EUR 8.46 billion
- Employees : 22,048
Official Website: www.abnamro.com
News & Media: Press Release
Updated on 8th August 2016