News on ABN AMRO Holding NV

Dutch regulator fines Fortis Holding for market manipulation

2010-03-10T11:16:33Z

<div><p>Dutch financial markets watchdog AFM said Wednesday it had fined insurance group Fortis Holding 576,000 euros (780,000 dollars) for market manipulation and withholding share price sensitive information.</p><p>Four fines of 144,000 euros each were imposed on Fortis Holding last month for actions that followed its takeover of Dutch bank ABN Amro in 2007 in a consortium with the Royal Bank of Scotland narrowed sharply last year, the state-rescued lender said Thursday as it prepared to dish out bonuses reportedly totalling 1.6 billion pounds.</p><p>RBS suffered a net loss of 3.6 billion pounds in 2009 -- a major improvement on a record shortfall of 24.3 billion pounds suffered the previous year.</p><p>While the bank...

Royal Bank of Scotland loses $5.5 billion in 2009

2010-02-25T01:16:47Z

<div id="subtitle">Royal Bank of Scotland loses $5.5 billion for year, say bad loans may have peaked</div><div><p>Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.</p><p>CEO Mikhail Youzhny of Russia reacts during the semi final tennis match against Novak Djokovic of Serbia at the ABN Amro World Tennis Tournament in Rotterdam, Royal Bank of Scotland vowed on Tuesday to minimise bankers' bonuses amid public anger over potential payouts that could be deemed a reward for failure.</p><p>The bank, which is 84-percent owned by the state after a series of enormous bailouts, was "not going to pay a penny more than we need to," chief...

RBS bank boss vows to minimise staff bonuses

2010-02-22T21:43:50Z

<div><p>The boss of state-controlled Royal Bank of Scotland vowed on Tuesday to minimise bankers' bonuses amid public anger over potential payouts that could be deemed a reward for failure.</p><p>The bank, which is 84-percent owned by the state after a series of enormous bailouts, was "not going to pay a penny more than we need to," chief...

Goldman, ABN misled investors during IPO: court

2010-02-23T23:58:52Z

<div><p>AMSTERDAM (Reuters) - ABN AMRO, Goldman Sachs and World Online misled investors during the 2000 initial public offering (IPO) of the Dutch Internet provider, the ABN Amro reported a third-quarter net loss of a billion euros (1.5 billion dollars) on Wednesday, a sharp improvement from the outcome in the previous quarter.</p><p>The figures included a 32-million-euro loss for the Dutch state which gave the bank a three-billion-euro cash boost last week.</p><p>This brought the bank's loss...

Deutsche Bank says it will buy parts of ABN Amro

2010-02-24T16:51:12Z

<div><p>The biggest German bank, Deutsche Bank, said Tuesday it would buy parts of the state-owned Dutch lender ABN Amro's activities in the Netherlands for an undisclosed amount.</p><p>"The assets to be acquired remain the same as those in the original ag...

Deutsche Bank stops talks on ABN Amro purchase

2010-02-25T06:06:29Z

<div><p>Germany's Deutsche Bank informed the Netherlands on Thursday it was putting an end to negotiations for the purchase of parts of nationalised bank ABN Amro, the Dutch finance ministry said.</p><p>"Deutsc...

Dutch state plans further 2.5 bln euros for ABNAmro

2010-02-26T16:17:26Z

<div><p>The Dutch government proposed a further 2.5-billion-euro (3.5-billion-dollar) financial boost Friday for ABN Amro bank, in which it is a major shareholder.</p><p>The money was "to cover the immediate demand for 2.5 billion in capital," the finance ministry said in a statement.</p><p>For 1.7 billion euros of the total, the government wou...

ABN Amro reports loss in first quarter

2010-02-27T06:07:13Z

<div><p>Partially nationalised Dutch bank ABN Amro said Monday it had sustained a loss of 886 million euros (1.2 billion dollars) in the first quarter.</p><p>It said its first quarter results reflected a net loss of 928 million euros attributable to operations that were acquired by the Dutch Finance Minister Wouter Bos said Wednesday that banking group ABN Amro, in which the government is a mayor shareholder, may have to receive state financial support "at any moment".</p><p>Bos told the lower house of parliament that "he accepts the state will have to provide financial assistance to ABN Amro a...

ABN Amro 'seeks new state aid'

2010-02-27T08:24:06Z

<div><p>The head of nationalised Dutch bank ABN Amro said in an interview published Wednesday he wants a fresh capital injection from the government.</p><p>"We cannot continue if the state does not help us and if (the European Commission) does not authorise such assistance," ABN Amro executive director ...

ABN Amro says up to 5,000 job to go in merger

2010-02-27T08:43:42Z

<div><p>Dutch lender ABN Amro said Tuesday up to 5,000 jobs would be cut in its merger with the Netherlands banking branch of Fortis after the two were nationalised in the world financial crisis.</p><p>"The number of posts will decrease by between 4,000 and 5,000 by 2012," ABN Amro spokesman Jeroen van Maarschalkerweer...

Up to 5,000 jobs to go in ABN Amro, Fortis merger

2010-02-27T08:44:42Z

<div><p>Dutch lender ABN Amro said Tuesday that up to 5,000 jobs would be cut in its merger with the Netherlands banking branch of Fortis after the two were nationalised last year.</p><p>"The number of posts will decrease by between 4,000 and 5,000 by 2012," ABN...

RBS reports £857 mln net loss

2010-02-27T13:43:44Z

<div><p>Royal Bank of Scotland, the British lender recently rescued by the taxpayer, reported Friday a first-quarter net loss of 857 million pounds as write-offs linked to the credit crunch soared.</p><p>The net loss, equivalent to 959.5 million euros or 1.285 billion dollars, compared with profit after tax of 245 million pounds during th...

RBS reports £857 mln pounds net loss

2010-02-27T13:47:20Z

<div><p>Royal Bank of Scotland, the British lender recently rescued by the taxpayer, reported Friday a first-quarter net loss of 857 million pounds as write-offs linked to the credit crunch soared.</p><p>The net loss, equivalent to 959.5 million euros and 1.285 billion dollars, compared with profit after tax of 245 million pounds during t...

RBS posts £857 mln loss

2010-02-27T13:43:53Z

<div><p>Royal Bank of Scotland, the Edinburgh-based lender which was recently rescued by the taxpayer, on Friday reported a first-quarter net loss of 857 million pounds as write-offs linked to the credit crunch soared.</p><p>The net loss compared with profit after tax of 245 million pounds...

RBS reports 857 million pound net loss

2010-02-27T13:47:21Z

<div><p>Royal Bank of Scotland, the British lender recently rescued by the taxpayer, reported Friday a first-quarter net loss of 857 million pounds as write-offs linked to the credit crunch soared.</p><p>The net loss, equivalent to 959.5 million euros and 1.285 billion dollars, compared with profit after tax of 245 million pounds during t...