ABN Amro Group reports one billion euro loss
From AFP Global Edition | 2009-11-25 09:10:14
<div><p>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.</p><p>This brought its losses for the year to September 30 to 3.6 billion euros, the bank said in a statement.</p><p>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.</p><p>"The results of the RBS acquired businesses continue to be impacted by financial and credit market volatility and business transfers," said the statement.</p><p>ABN Amro was acquired in 2007 by a consortium grouping RBS, Santander and the Dutch-Belgian banking and insurance group Fortis.</p><p>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.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=64210837&bid=informcom" /></div><div id="copyright"><div>
Copyright 2009 <a href="http://www.afp.com/english/links/?pid=copyright">AFP Global Edition</a></div></div>
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