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ABN AMRO Bank N.V. is the third-largest Dutch bank, [5] with headquarters in Amsterdam.It was initially formed in 1991 by merger of the two prior Dutch banks that form its name, Algemene Bank Nederland (ABN) and Amsterdamsche en Rotterdamsche Bank (AMRO Bank).
Fortis would use the ABN AMRO brand name for Fortis's retail banking operations in the Netherlands. The take-over price was felt to be on the high side (on February 26, 2009, the Royal Bank of Scotland announced to book a loss of over £16 billion on its share in ABN-AMRO). [6]
From 1984, the business had been a subsidiary, firstly owned by Security Pacific, until its own near collapse and purchase by Bank of America in 1992, when ABN Amro duly purchased the business. ABN Amro itself was purchased by Royal Bank of Scotland in 2007, before the business was sold on to the Jefferies Group, becoming their corporate ...
The €71 billion (£55 billion) ABN Amro deal (of which RBS's share was £10 billion [26]) in particular stretched the bank's capital position – £16.8 billion of RBS's record £24.1 billion loss is attributed to writedowns relating to the takeover of ABN Amro. [6]
Andrea Orcel was born on May 14, 1963, in Rome, Italy. [10] His father ran a small leasing company and his mother worked for the United Nations. [11] Orcel attended the Lycée français Chateaubriand in Rome for secondary school, at his mother's request, so he could learn French in addition to his native Italian. [11]
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.
Fortis and RBS were found to be heavily indebted due to the sub-prime mortgage crisis. Fortis was split and the Dutch part of Fortis was taken under government ownership by The Netherlands, thus reinstating the company in ABN-Amro The Belgian part was taken over by BNP-Paribas. RBS was taken under government ownership by the UK.
The National T20 Cup began in the 2004–05 season as the ABN-AMRO Twenty-20 Cup and quickly became the premier professional Twenty20 cricket league in Pakistan with 14 teams. It was the first T20 cricket league in the world outside of Australia and England .