Dutch State acquired businesses

ABN AMRO was acquired by a consortium of Fortis, RBS and Santander (RFS Holdings B.V.) in October 2007. On 3 October 2008, the Dutch state announced that it had bought Fortis Bank Nederland, including its interests in ABN AMRO. The current ABN AMRO NV is part of the ABN AMRO Holding NV. It consists of the Dutch State acquired businesses of the 'old' ABN AMRO that was acquired by the consortium.

On 6 February 2010, the businesses of ABN AMRO acquired by the Dutch State were legally demerged from the RBS acquired businesses. As a result, there are now two separate banks within ABN AMRO Holding N.V., The Royal Bank of Scotland N.V. ('RBS N.V.') and the new entity named ABN AMRO Bank N.V., each licensed separately by the Dutch Central Bank. Both banks will be governed by the current managing and supervisory boards of ABN AMRO Holding N.V. until the legal separation of the new ABN AMRO Bank N.V. from ABN AMRO Holding N.V.

The legal separation involves the transfer of the new ABN AMRO Bank N.V. to a holding company that has been established by the Dutch State. The separation of ABN AMRO NV from ABN AMRO Holding NV is planned for 30 March 2010 at which point, the new ABN AMRO Bank N.V. will become an independent bank with new managing and supervisory boards, operating under Dutch Central Bank supervision and unrelated to the RBS Group.

The new entity consists of the business units Netherlands, Private Banking and the International Diamond & Jewelry Group.

At the end of the third quarter of 2009, the total assets of the ABN AMRO amounted to EUR 203 bln. With an international presence in 16 countries and territories, this 'new' ABN AMRO employs about 22,300 people, of which 3,000 are outside the Netherlands. The Dutch State-owned business serves over 4 million retail clients and more than 370,000 business clients. We offer a broad range of products and services via a diversity of channels like bankshops, business centres, call centres and internet.

Looking further ahead, ABN AMRO and Fortis Nederland are in the process of being merged into a single organisation. The new bank will possess financial strength, product breadth, depth of client base and international reach across 30 countries and territories, positioning the bank ideally to service the needs of financial institutions and corporations of all sizes and ambitions, both within the Netherlands and beyond.