ABN Amro Group reports loss

November 25, 2009
Shares

, THE HAGUE, Nov 25 – Bank group ABN Amro reported a third quarter loss of a billion euros (1.5 billion dollars) Wednesday, including a 32 million-euro loss for the Dutch state that gave it a three-billion-euro cash boost last week.

This brought its losses for the year to September 30 to 3.6 billion euros, the bank said in a statement.

A loss of 873 million euros in the third quarter accrued to the parts of ABN Amro\’s business acquired by the Royal Bank of Scotland (RBS), it added.

"The results of the RBS acquired businesses continue to be impacted by financial and credit market volatility and business transfers," said the statement.

ABN Amro was acquired in 2007 by a consortium grouping RBS, Santander and the Dutch-Belgian banking and insurance group Fortis.

Its Dutch banking activities were nationalised by the Dutch state in October last year following the break-up of Fortis, which had been badly burned in the global finance crisis.

Shares

Latest Articles

Stock Market

Most Viewed