Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
ABN AMRO Bank N.V. is a Dutch bank with headquarters in Amsterdam. ABN AMRO Bank is the third-largest bank in the Netherlands. It was re-established in its current form in 2009, following the acquisition and break-up of the original ABN AMRO by a banking consortium consisting of Royal Bank of Scotland Group, Santander Group and Fortis. Following the collapse of Fortis, who acquired the Dutch business, it was nationalized by the Dutch government along with Fortis Bank Nederland. It was relisted as public company again in 2015.
The bank is a product of a long history of mergers and acquisitions that date to 1765. In 1991, Algemene Bank Nederland (ABN) and AMRO Bank (itself the result of a merger of the Amsterdamsche Bank and the Rotterdamsche Bank in the 1960s) agreed to merge to create the original ABN AMRO. By 2007, ABN AMRO was the second-largest bank in the Netherlands and the eighth-largest in Europe by assets. At that time the magazine The Banker and Fortune Global 500 placed it 15th in the list of world’s biggest banks and it had operations in 63 countries, with over 110,000 employees.
In October 2007, a consortium of the Royal Bank of Scotland Group, Fortis and Banco Santander, known as RFS Holdings B.V. acquired the bank, in what was the world's biggest bank takeover to date. Consequently, the bank was divided into three parts, each owned by one of the members of the consortium. However, RBS and Fortis soon ran into serious trouble: the large debt created to fund the takeover had depleted the banks' reserves just as the financial crisis of 2007–2010 started. As a result, the Dutch government stepped in and bailed out Fortis in October 2008, before splitting ABN AMRO's Dutch assets (which had primarily been allocated to Fortis) from those owned by RBS, which were effectively assumed by the UK government due to its bail-out of the British bank. The operations owned by Santander, notably those in Italy and Brazil, were merged with Santander, sold or eliminated.
The Dutch government appointed former Dutch finance minister Gerrit Zalm as CEO to restructure and stabilise the bank, and in February 2010 the assets it owned were legally demerged from those owned by RBS. This demerger created two separate organisations, ABN AMRO Bank N.V. and The Royal Bank of Scotland N.V. The former was merged with ABN AMRO Private Banking, Fortis Bank Nederland, the private bank MeesPierson (formerly owned by the original ABN AMRO and Fortis) and the diamond bank International Diamond & Jewelry Group to create ABN AMRO Group N.V., with the Fortis name being dropped on 1 July 2010. The remaining parts of the original ABN AMRO still owned by The Royal Bank of Scotland N.V., meanwhile, were renamed, sold or closed.
The Dutch government has said that ABN AMRO would remain state-owned until at least 2014. On November 20, 2015 the Dutch government publicly re-listed the company through an IPO and sold 20% of the shares to the public.

View More On Wikipedia.org
  1. RK7

    SA Can I make and sell a product under my ABN?

    So, I am planning to develop a mechanical product and sell it as a wholesaler and retail with its own unique name say ABC hardware. So, can I design a product and sell it with its unique name under my ABN which is registered under my name?
  2. William Luxe

    QLD Business structure ship and registrations

    I currently have an Australian Private Company limited by shares with an advertising & events agency operating under it. We’ve just launched another business (1 of 6 more planned) and I’m wondering if I should set-up each business as it’s own company? Or should I keep things simple and have them...
  3. V

    VIC Employer is not paying two weeks wages.

    Hi, I was driving a courier delivery Ute on ABN for a subcontractor company. I have resigened 1 month back with 2 weeks notice. The company has not paid my 2 weeks salary although they have received the final paymant from the contract company. What are my legal rights in this senario. Thanks
  4. D

    VIC Questions to Set Up as Sole Trader?

    A colleague has some questions. He is setting up a sole trader business cleaning windows. 1. Can his business have a name such as "sparking windows" as opposed to his name? 2. He lives in a rental property whose lease is in his partner's name. The lease states no businesses can operate from...
  5. T

    Fine of vehicle registered under ABN

    I got a fine for a vehicle thats registered in my ABN, now Im upto final notice and they said I nominated myself as the driver 2 days late so I have to pay a $3325 fine, just wondering if there is any way around this or do I have to pay the 3325?
  6. C

    QLD Selling Used Panties

    Judgement and opinions on the topic aside, I wanted to ask a few questions on how to legally profit from mailing my used underwear online. Is it even legal to sell used underwear in Australia? Is it legal to mail used underwear? If I can mail them, is there a specific way I need to package...
  7. T

    NSW ABN - Legal Concerns Regarding Being a Temporary Director?

    I got approached by a friend to assist with him opening an import/export company in Australia for Airplane parts, with myself acting as temporary director and due to advice he received below: ******** "To apply for an ABN number with the minimum of hassle, I would recommend you appoint a...
  8. M

    NSW Commercial Law on Selling Data to External Companies?

    Hello, I am starting a new online business. The business will provide a free online service where users will need register. The idea is to provide the users a single place to manage a particular type of investment, including uploading their documents. As this is a free service, I need to...
  9. N

    which ABN is the seller under consumer law

    I pay one entity and get a tax invoice as receipt from another. Who is the seller, the ABN I paid or the ABN that gave me the tax invoice as a receipt?
  10. J

    QLD Gumtree Item Wasn't as Described - Recourse?

    Hi there, Last night I bought and electric guitar from Gumtree Fender stratocaster USA guitar for $850 and was advertised as made in USA. I only found out an hour later that pictures didn't line up with real USA stratocaster. I did a serial number check online and it turns out to be parts...