Sep 02, 2013
August 23rd 2013 - ABN AMRO is positive about the Finance Minister’s plans to privatise ABN AMRO in the future. An IPO is also the bank’s first-choice scenario.
Gerrit Zalm, Chairman of the Managing Board of ABN AMRO: “The Minister’s plans are the first step towards entering the private market. If Parliament agrees, the first opportunity for an IPO would be the first half of 2015. We will continue to pursue our long-term strategy which focuses on putting the clients’ interests first.”
ABN AMRO is ready to start preparations for an IPO. In the past three years, the bank has successfully completed the integration, solidified its position in virtually every market segment in which it operates and improved its financial position. At the moment, however, ABN AMRO is suffering from the Dutch economic recession. It will continue to roll out its long-term strategy, which should help boost its financial results.
The Minister’s plans will not affect customers. The bank’s strategy is to put clients’ interests first and to maintain a moderate risk profile by only taking risks it understands. ABN AMRO is focused on the Netherlands and wants to grow its international business in specific activities and a select number of markets.
The Finance Minister announced his plans following the Council of Ministers on 23 August 2013.
Re-disseminated by The Asian Banker