ABN AMRO
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Template:Infobox Company ABN AMRO (Template:Euronext, Template:Nyse) is the largest bank in the Netherlands and has operations all over the world, its history going back to 1824.
It is the result of the merger in 1991 of Algemene Bank Nederland (ABN) and the Amsterdamsche-Rotterdamsche Bank (AMRO). Note that written references to the bank should always write ABN AMRO entirely in capital letters - as it is an acronym and not a proper name.
ABN AMRO Holding N.V. is the name of the holding company, which is listed on Euronext Amsterdam and the New York Stock Exchange, among other exchanges. Its main subsidiary is ABN AMRO Bank N.V.
ABN AMRO has multiple divisions:
- Consumer & Commercial Clients
- Private Clients
- Asset Management
- Wholesale Clients
- Group Shared Services
- Transaction Banking Group
- Group Functions
ABN AMRO ranks 11th in Europe and 20th in the world based on tier 1 capital, with over 3,000 branches in more than 60 countries, a staff of more than 97,000 full-time equivalents and total assets of EUR 899.3 billion (as of 30 September 2005).
The bank has developed a strategy of having three home markets: The Netherlands, the United States, and Brazil. The U.S. commercial banking operations of ABN AMRO consist of LaSalle Bank in Chicago, Illinois and LaSalle Bank Midwest in Detroit, Michigan which operate under the name LaSalle Bank Corporation. LaSalle Bank Midwest is the former Standard Federal Bank, which changed its name on September 12, 2005. ABN AMRO also operates ABN AMRO Mortgage Group, one of the leading mortgage servicing companies in the US. In Brazil, ABN AMRO's subsidiary is Banco Real. Banco Real recently completed an acquisition of Sudameris, a peer bank in the Brazilian market.
In 2005 ABN AMRO acquired Banca Antonveneta of Italy, this effectively gave it a fourth home market. Antonveneta had been a cooperation partner for some years and has a similar client base to ABN AMRO.
See also
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