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More ABN Amro buy-backs not ruled out

Wednesday 21 January 2009

Finance minister Wouter Bos has not ruled out the possibility of buying up parts of ABN Amro which Royal Bank of Scotland may sell off, he told RTL-Z on Tuesday.

Nevertheless, we should not look too much to the past when considering the bank's future, Bos was reported as saying.

The ABN Amro group was taken over and split up by RBS, Fortis and the Spanish bank Santander in 2007.

The Dutch state took over the parts of ABN Amro acquired by Fortis last year after the collapse of the Dutch-Belgium banking and insurance group.

And on Monday RBS announced it has made a record loss and is considering selling off its former ABN Amro operations.

'We must build a new, vital and strong bank. Possibly we can benefit from this by buying parts of RBS. But that would mean looking extremely carefully and with a good entrepeneur’s eye at the possibilities,’ Bos is quoted as saying in the FD.

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Readers' comments

What is there to buy back? An empty box, that's what is left. RBS made most of the ABN staff redundant and for certain got rid of those that were of some worth (if they didn't leave of their own accord).

By LS | January 21, 2009 2:40 PM

This is so much out of line!!
Just because there is taxpayer's money being used with no market mechansim to judge the performance of its new managers does not mean that the nationalised part of the bank can do just about anything!!!!

By r | January 21, 2009 3:02 PM

By LS | January 21, 2009 4:15 PM

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