ABN AMRO
In 1824 King William Piey founded the Netherlands Handel-Matsheeppiege (NHM) merchant company and to be one of the primary ancestors of ABN AMRO to revive the trade and financial position of the Dutch East Indies. In 1964, the NHM was incorporated into Twente's Bank to form the AGLIMIN Bank Netherland (ABN). It was merged with the established Rotterdamsh Bank in 1871 to form an AMRO bank in 1873 (part of Derivatives Vesselingham and ZN merger) from 1865. In 1991 ABN and AMRO bank agreed to form ABN AMRO.
Through this merger and acquisition, ABN AMRO has obtained a number of foreign companies and branches. It received a significant network of branches from Asia and the Middle East from the NHM Institute. One of them was questioned by the Political Party for Freedom in the Dutch Parliament about the Saudi Hollandi Bank, which was the old NHM Jeddah branch and in which ABN AMRO still owns 40%. The other bank was Hollandshi Bank-Uni (HBU), which was formed in 1933 by the merger of the Hollandshi Bank voor de Middaylandshi Zee (HBMZ) and the Hollandshi Zuid-Ameri Bank, which led to ABN AMRO branches in South and Central America. An extended network was found. In 1979 ABN expanded to Chicago-based LaSalle National Bank and expanded into North America.
After the merger of ABN and AMRO bank in 1991, ABN AMRO was continuously expanded by a number of acquisitions, including the acquisition of the Standard Federal Bank located in the suburbs of Detroit in 1996 and the acquisition of Michigan National Bank in 2001, both banks LaSalle was rebranded as the National Bank.
ABN Amro purchased American securities and commodities trading and clearing corporation, The Chicago Corporation in the fall of 1995.
Other major acquisitions included the Brazilian bank Banco Real in 1998 and Italian Bank Antonovanetta in 2006. It was also involved in the disputed acquisition of the Dutch Dutch government's Mortgage and Building Development Organization, Buuffonds in 2000. ABN AMRO sold buffonds in 2006, increasing concerns.
Make an important decision
ABN AMRO has come to an important decision in early 2005. The bank was yet to complete its own target of getting ROE, which was a placeholder in the list of top five groups with similar operations, the target CEO Rijkman Groenik set at the time of his appointment in 2000. From 2000 to 2005, ABN AMRO's stock price remained steady.
The 2006 financial results increased concerns about the future of the bank. The operating costs were rising at a much higher rate than operating earnings, and the capacity ratio dropped further to 69.9%. Non-efficient loans grew at a significant rate of 192 percent annually. Net profits grew due to the durable sales of assets.
During the previous two years, ABN AMRO will break down, merge, or speculate that it will be acquired. On February 21, 2007, the TCI hedge fund, which suggested to the chairman of the Supervisory Board to actively investigate the merger, acquisition or dissolution of ABN AMRO, said that the current share price does not reflect the true value of the assets. TCI asked the chairman to put their request in the agenda of the shareholders' annual meeting in April 2007.
This was confirmed when on March 20, when the British bank Barclays and ABN AMRO agreed on both sides agreeing about possible merger.
Competition competition
On March 28, ABN AMRO announced the agenda of the 2007 shareholders' meeting. It contained all the things suggested by TCI, but the recommendation for the dissolution of the company was not given in the recommendations.
Headquarters of ABN AMRO's Insurance Department at Zowol.
However, on April 18, another British bank, the Royal Bank of Scotland, contacted ABN AMRO for the proposal to deal with, under which RBS, Fortis of Belgium, and Spanish Santos Bank of Central Hispanics (now Banks Santander will speak jointly for ABN AMRO and after that they will divide the various sections of the bank among them. As per the proposed deal, RBS will acquire the ABN's Chicago-based business, Lesl, and ABN's wholesale business; When Banks will take control of Santander Brasil's business and Fortis Dutch business.
On April 23, ABN AMRO and Barclays announced the acquisition of ABN AMRO's Barclays as proposed. The value of this deal was estimated € 67 billion. Sale of € 21 billion in the LaSalle Bank of Bank of America was a part of this deal.
Two days later, the Consortium led by RBS made a signaling offer of € 72bn if ABN AMRO would stop its sale to its Lassel Bank Bank of America. The following day, during the shareholders meeting, about 68% of the maximum shareholders voted in favor of the dissolution suggested by TCI.
LaSalle's sale was considered as a blockbuster by many: it was considered a barrier to RBS's bid for increasing access to the US market to expand on the success of the group's current American brands Citizen Bank and Chardier One. On May 3, 2007, the Vereniging van Effectenbezitters took the case to the Dutch Commercial Court in Amsterdam, with request to ban LaSalle's sale with the support of shareholders, representing 20% of the shares of ABN. The court said Laal's sale could not be considered separately from the ongoing talks with ABN AMRO for the merger of Barclays, and therefore ABN AMRO shareholders should be able to approve other possible merger / acquisition candidates in the common shareholder meeting. Even so, in July 2007, the Dutch Supreme Court ruled that Bank of America could proceed with the acquisition of LaSalle Bank Corporation. Bank of America merged LaSalle since October 1, 2007.
ABN AMRO in Sydney
On July 23, Barclays increased its offer to ABN AMRO by € 67.5 billion after receiving assurance from the Chinese and Singapore government, but it was still lower than the RBS Consortium's offer. Barclays' revised bid was € 35.73 per share - which was 4.3 percent higher than its previous offer. This offer, which included 37 percent cash, was lower than the offer made by € 38.40 per share by the RFS Consortium a week ago. Their revised offer did not include an offer for LaSalle Bank, because ABN AMRO was able to sell its sub-bank to Bank of America. RBS will now be stable on the investment-banking segment of ABN (ABN) and its Asian network.
Acquisition and dissolution
On July 30, ABN AMRO withdrew its support for Barclays' offer which was lower than the offer made by RBS-led group. Barclays' offer was consistent with ABN AMRO's strategic vision, while the board did not recommend it from a financial perspective. RBS, Fortis and Banco Santander's $ 98.3 billion bid were 9.8% higher than Barclays's offer.
Barclays Bank withdrew its bid for ABN AMRO, including its divisional plan on October 5, easing the way for the consortium's bid under the leadership of RBS. Fortis will receive ABN AMRO's Dutch and Belgian businesses, Banks Santander will get Banca Real in Brazil and Banca Antonovanta in Italy and will own RBS ABN AMRO's wholesale division and all other businesses, including Asia.
On October 9, the RFS Consortium, led by the Royal Bank of Scotland, formally declared the winner after accepting the € 70 billion offer from the RFS group, representing a 86% stake in the Dutch bank's shares. At the level of acceptance, the Consortium made the road for formal control. On October 10, when the group completed its € 13 billion rights issue, the group declared its offer unconditionally. Therefore, the financing needed for the offer of € 38 per share of the group, which includes cash of € 35.60, was also received. Chairman of Managing Board of ABN AMRO, a widely acknowledged Barclays offer, decided to step down as Riskmann Groyanink.
Effect of 2008 financial crisis RBS ABN AMRO in Dubai
On April 22, 2008, RBS announced the biggest rights issue in British corporate history, aiming to raise £ 12 billion in new capital to compensate for £ 5.9 billion as a result of submerged investment and to increase its reserves after purchasing ABN AMRO. Was able to. On October 13, 2008, British Prime Minister Gordon Brown announced a UK government bailout for financial management. The Treasury will add new capital of 37 billion pounds ($ 64 billion, 47 billion euros) to Royal Bank of Scotland Group PLC, Lloyd TSB and HBOS plc to save financial sector. Following that, the RBS government's total ownership was 58 percent. As a result of this rescue, the group's chief executive, Sir Fred Goodwin, proposed to resign, which was accepted.
In January 2009, it was announced that RBS lost £ 28 billion, of which £ 20 billion was due to ABN AMRO. At the same time, the government increased its stake in RBS to 70%, converting their preference shares into Ordinary shares.
ABN AMRO headquarters in Fortis Amsterdam.
On July 11, 2008, Fortis CEO, Jean Votron, withdrew from the post, dismissing Fortis' capital on the ABN AMRO deal. Based on the value of its shares, the total value of Fortis' acquisition was reduced to one third of the previous value, and under that value he paid for Benelux activities of ABN AMRO.
Fortis announced in September 2008 that it wants to sell its stake in RFS Holdings, in which Fortis has not yet transferred all activities (eg all except asset management).
Disposal and renaming
In 2008, RFS Holdings completed the sales process of a consortium consisting of Goldman Sachs, Alumnist Partners and CPP, for $ 1.5 billion via Private Equity Secondary Market, a private equity portfolio of 32 European companies managed by AC Capital Partners.
In September 2009, RBS named the Morgan Stock Trading Company a new name for RBS Morgans in Australia. Earlier it was renamed the RBS Australia by ABN AMRO Australia unit in March of the same year.
On February 10, 2010, RBS announced that its owned branches in India and United Arab Emirates would be rebranded under its name. HSBC Holdings said that it is the Royal Bank of Scotland's Indian retail and commercial banking business 1.8 billion Will buy in dollars.
Dutch government ownership
Following the continuing problems in Fortis's business in the 2008 financial crisis, the Dutch took full control of Fortis's entire business of the Netherlands (€ 16.8 billion), which included some of the ABN AMROs involved in Fortis. The Dutch government and De Nederlandi bank's president announced that Dutch Fortis and ABN AMRO will merge the stake, while the bank is owned by the state.
In January 2009, it was reported that Belgian-based Fortis shareholders are considering entering into a case against the Belgian government for the decision to acquire a group of financial services, and they are planning to make a case against the Dutch government. The initial outcome of the case came in favor of the Dutch government.
On February 9, 2010, ABN AMRO's business acquired by Dutch State was legally segregated from the industry-funded RBS. This led to the creation of two separate banks in ABN AMRO Holdings, both of which were granted separate licenses by The Royal Bank of Scotland and ABN AMRO Bank, a new organization, Dutch central bank.
Goldman Sachs SEC complaint
ABN Amro was mentioned by the SEC in a court of supplement when he filed a lawsuit against Goldman Sachs and a CDO trader in Goldman on April 16, 2010. The SEC blamed that ABN Amro Goldman was at the wrong side of CDO instruments and hence Gold has deceived both the IKB and ABN Amro, and ABN Amro ( ABN Amro failed to advertise that he did not include a third party in the purchase, but instead he became a party to the CDS deal under the guidance of the Hedge Fund. This hedge fund involved Paulson & Co. Duff to take massive advantage of this event.
Bank business
ABN AMRO has offices in 15 countries, but 5,000 of its 32,000 employees are in the Netherlands. Its operations include private bank and commercial and commercial banking operations focusing on high-value customers in 14 countries, which have operations in specialized markets like energy, commodities and transport and brokerage, clearing and custody.
Financial details
Pre-employees
Former employees of ABN AMRO:
Vladimir Gargnidz, former Prime Minister of Georgia, ABN AMRO's former employee general affairs name and spelling
Banks identify themselves as ABN AMRO in all areas, based on the short names of two basic banks, Elginman Bank Netherlands and Amsterdam and Rotterdam Bank, in the second part of the name, the first two letters of the name of the two towns become Amro. . However, it is pronounced differently in all three letters of ABN and as a word to Amro, some media also use it as ABN Amro. Both editions are used in bank text, although the bank itself only uses the first alphabetical version. During verbal conversations, the bank is sometimes called ABN Bank only.
Logos and Styles
The green and yellow shield logo was created in 1991 by the Design House Lender Associates for ABN AMRO and used as a brand for the bank and all its subsidiaries.
Through this merger and acquisition, ABN AMRO has obtained a number of foreign companies and branches. It received a significant network of branches from Asia and the Middle East from the NHM Institute. One of them was questioned by the Political Party for Freedom in the Dutch Parliament about the Saudi Hollandi Bank, which was the old NHM Jeddah branch and in which ABN AMRO still owns 40%. The other bank was Hollandshi Bank-Uni (HBU), which was formed in 1933 by the merger of the Hollandshi Bank voor de Middaylandshi Zee (HBMZ) and the Hollandshi Zuid-Ameri Bank, which led to ABN AMRO branches in South and Central America. An extended network was found. In 1979 ABN expanded to Chicago-based LaSalle National Bank and expanded into North America.
After the merger of ABN and AMRO bank in 1991, ABN AMRO was continuously expanded by a number of acquisitions, including the acquisition of the Standard Federal Bank located in the suburbs of Detroit in 1996 and the acquisition of Michigan National Bank in 2001, both banks LaSalle was rebranded as the National Bank.
ABN Amro purchased American securities and commodities trading and clearing corporation, The Chicago Corporation in the fall of 1995.
Other major acquisitions included the Brazilian bank Banco Real in 1998 and Italian Bank Antonovanetta in 2006. It was also involved in the disputed acquisition of the Dutch Dutch government's Mortgage and Building Development Organization, Buuffonds in 2000. ABN AMRO sold buffonds in 2006, increasing concerns.
Make an important decision
ABN AMRO has come to an important decision in early 2005. The bank was yet to complete its own target of getting ROE, which was a placeholder in the list of top five groups with similar operations, the target CEO Rijkman Groenik set at the time of his appointment in 2000. From 2000 to 2005, ABN AMRO's stock price remained steady.
The 2006 financial results increased concerns about the future of the bank. The operating costs were rising at a much higher rate than operating earnings, and the capacity ratio dropped further to 69.9%. Non-efficient loans grew at a significant rate of 192 percent annually. Net profits grew due to the durable sales of assets.
During the previous two years, ABN AMRO will break down, merge, or speculate that it will be acquired. On February 21, 2007, the TCI hedge fund, which suggested to the chairman of the Supervisory Board to actively investigate the merger, acquisition or dissolution of ABN AMRO, said that the current share price does not reflect the true value of the assets. TCI asked the chairman to put their request in the agenda of the shareholders' annual meeting in April 2007.
This was confirmed when on March 20, when the British bank Barclays and ABN AMRO agreed on both sides agreeing about possible merger.
Competition competition
On March 28, ABN AMRO announced the agenda of the 2007 shareholders' meeting. It contained all the things suggested by TCI, but the recommendation for the dissolution of the company was not given in the recommendations.
Headquarters of ABN AMRO's Insurance Department at Zowol.
However, on April 18, another British bank, the Royal Bank of Scotland, contacted ABN AMRO for the proposal to deal with, under which RBS, Fortis of Belgium, and Spanish Santos Bank of Central Hispanics (now Banks Santander will speak jointly for ABN AMRO and after that they will divide the various sections of the bank among them. As per the proposed deal, RBS will acquire the ABN's Chicago-based business, Lesl, and ABN's wholesale business; When Banks will take control of Santander Brasil's business and Fortis Dutch business.
On April 23, ABN AMRO and Barclays announced the acquisition of ABN AMRO's Barclays as proposed. The value of this deal was estimated € 67 billion. Sale of € 21 billion in the LaSalle Bank of Bank of America was a part of this deal.
Two days later, the Consortium led by RBS made a signaling offer of € 72bn if ABN AMRO would stop its sale to its Lassel Bank Bank of America. The following day, during the shareholders meeting, about 68% of the maximum shareholders voted in favor of the dissolution suggested by TCI.
LaSalle's sale was considered as a blockbuster by many: it was considered a barrier to RBS's bid for increasing access to the US market to expand on the success of the group's current American brands Citizen Bank and Chardier One. On May 3, 2007, the Vereniging van Effectenbezitters took the case to the Dutch Commercial Court in Amsterdam, with request to ban LaSalle's sale with the support of shareholders, representing 20% of the shares of ABN. The court said Laal's sale could not be considered separately from the ongoing talks with ABN AMRO for the merger of Barclays, and therefore ABN AMRO shareholders should be able to approve other possible merger / acquisition candidates in the common shareholder meeting. Even so, in July 2007, the Dutch Supreme Court ruled that Bank of America could proceed with the acquisition of LaSalle Bank Corporation. Bank of America merged LaSalle since October 1, 2007.
ABN AMRO in Sydney
On July 23, Barclays increased its offer to ABN AMRO by € 67.5 billion after receiving assurance from the Chinese and Singapore government, but it was still lower than the RBS Consortium's offer. Barclays' revised bid was € 35.73 per share - which was 4.3 percent higher than its previous offer. This offer, which included 37 percent cash, was lower than the offer made by € 38.40 per share by the RFS Consortium a week ago. Their revised offer did not include an offer for LaSalle Bank, because ABN AMRO was able to sell its sub-bank to Bank of America. RBS will now be stable on the investment-banking segment of ABN (ABN) and its Asian network.
Acquisition and dissolution
On July 30, ABN AMRO withdrew its support for Barclays' offer which was lower than the offer made by RBS-led group. Barclays' offer was consistent with ABN AMRO's strategic vision, while the board did not recommend it from a financial perspective. RBS, Fortis and Banco Santander's $ 98.3 billion bid were 9.8% higher than Barclays's offer.
Barclays Bank withdrew its bid for ABN AMRO, including its divisional plan on October 5, easing the way for the consortium's bid under the leadership of RBS. Fortis will receive ABN AMRO's Dutch and Belgian businesses, Banks Santander will get Banca Real in Brazil and Banca Antonovanta in Italy and will own RBS ABN AMRO's wholesale division and all other businesses, including Asia.
On October 9, the RFS Consortium, led by the Royal Bank of Scotland, formally declared the winner after accepting the € 70 billion offer from the RFS group, representing a 86% stake in the Dutch bank's shares. At the level of acceptance, the Consortium made the road for formal control. On October 10, when the group completed its € 13 billion rights issue, the group declared its offer unconditionally. Therefore, the financing needed for the offer of € 38 per share of the group, which includes cash of € 35.60, was also received. Chairman of Managing Board of ABN AMRO, a widely acknowledged Barclays offer, decided to step down as Riskmann Groyanink.
Effect of 2008 financial crisis RBS ABN AMRO in Dubai
On April 22, 2008, RBS announced the biggest rights issue in British corporate history, aiming to raise £ 12 billion in new capital to compensate for £ 5.9 billion as a result of submerged investment and to increase its reserves after purchasing ABN AMRO. Was able to. On October 13, 2008, British Prime Minister Gordon Brown announced a UK government bailout for financial management. The Treasury will add new capital of 37 billion pounds ($ 64 billion, 47 billion euros) to Royal Bank of Scotland Group PLC, Lloyd TSB and HBOS plc to save financial sector. Following that, the RBS government's total ownership was 58 percent. As a result of this rescue, the group's chief executive, Sir Fred Goodwin, proposed to resign, which was accepted.
In January 2009, it was announced that RBS lost £ 28 billion, of which £ 20 billion was due to ABN AMRO. At the same time, the government increased its stake in RBS to 70%, converting their preference shares into Ordinary shares.
ABN AMRO headquarters in Fortis Amsterdam.
On July 11, 2008, Fortis CEO, Jean Votron, withdrew from the post, dismissing Fortis' capital on the ABN AMRO deal. Based on the value of its shares, the total value of Fortis' acquisition was reduced to one third of the previous value, and under that value he paid for Benelux activities of ABN AMRO.
Fortis announced in September 2008 that it wants to sell its stake in RFS Holdings, in which Fortis has not yet transferred all activities (eg all except asset management).
Disposal and renaming
In 2008, RFS Holdings completed the sales process of a consortium consisting of Goldman Sachs, Alumnist Partners and CPP, for $ 1.5 billion via Private Equity Secondary Market, a private equity portfolio of 32 European companies managed by AC Capital Partners.
In September 2009, RBS named the Morgan Stock Trading Company a new name for RBS Morgans in Australia. Earlier it was renamed the RBS Australia by ABN AMRO Australia unit in March of the same year.
On February 10, 2010, RBS announced that its owned branches in India and United Arab Emirates would be rebranded under its name. HSBC Holdings said that it is the Royal Bank of Scotland's Indian retail and commercial banking business 1.8 billion Will buy in dollars.
Dutch government ownership
Following the continuing problems in Fortis's business in the 2008 financial crisis, the Dutch took full control of Fortis's entire business of the Netherlands (€ 16.8 billion), which included some of the ABN AMROs involved in Fortis. The Dutch government and De Nederlandi bank's president announced that Dutch Fortis and ABN AMRO will merge the stake, while the bank is owned by the state.
In January 2009, it was reported that Belgian-based Fortis shareholders are considering entering into a case against the Belgian government for the decision to acquire a group of financial services, and they are planning to make a case against the Dutch government. The initial outcome of the case came in favor of the Dutch government.
On February 9, 2010, ABN AMRO's business acquired by Dutch State was legally segregated from the industry-funded RBS. This led to the creation of two separate banks in ABN AMRO Holdings, both of which were granted separate licenses by The Royal Bank of Scotland and ABN AMRO Bank, a new organization, Dutch central bank.
Goldman Sachs SEC complaint
ABN Amro was mentioned by the SEC in a court of supplement when he filed a lawsuit against Goldman Sachs and a CDO trader in Goldman on April 16, 2010. The SEC blamed that ABN Amro Goldman was at the wrong side of CDO instruments and hence Gold has deceived both the IKB and ABN Amro, and ABN Amro ( ABN Amro failed to advertise that he did not include a third party in the purchase, but instead he became a party to the CDS deal under the guidance of the Hedge Fund. This hedge fund involved Paulson & Co. Duff to take massive advantage of this event.
Bank business
ABN AMRO has offices in 15 countries, but 5,000 of its 32,000 employees are in the Netherlands. Its operations include private bank and commercial and commercial banking operations focusing on high-value customers in 14 countries, which have operations in specialized markets like energy, commodities and transport and brokerage, clearing and custody.
Financial details
Pre-employees
Former employees of ABN AMRO:
Vladimir Gargnidz, former Prime Minister of Georgia, ABN AMRO's former employee general affairs name and spelling
Banks identify themselves as ABN AMRO in all areas, based on the short names of two basic banks, Elginman Bank Netherlands and Amsterdam and Rotterdam Bank, in the second part of the name, the first two letters of the name of the two towns become Amro. . However, it is pronounced differently in all three letters of ABN and as a word to Amro, some media also use it as ABN Amro. Both editions are used in bank text, although the bank itself only uses the first alphabetical version. During verbal conversations, the bank is sometimes called ABN Bank only.
Logos and Styles
The green and yellow shield logo was created in 1991 by the Design House Lender Associates for ABN AMRO and used as a brand for the bank and all its subsidiaries.
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