ABN AMRO announces today it has completed the acquisition of the domestic private bankingactivities of Credit Suisse in Germany.
On 5 December 2013, ABN AMRO announced it had reached an agreement with Credit Suisse, subject to certain conditions. These conditions have now been met, including approval by the relevant merger control authorities.
With this acquisition ABN AMRO further strengthens its private banking activities in Europe. The acquisition positions Bethmann Bank, ABN AMRO’s private bank in Germany, as the third largest private bank in Germany.
Following this transaction Bethmann Bank will serve about 20,000 clients with approximately EUR 34 billion assets under management.