ABN Amro price was ‘too high’

The price paid for the takeover of ABN Amro activities by the Royal Bank of Scotland was, in hindsight, ‘too high’ the Financieele Dagblad quotes RBS’ supervisory board chairman Tom McKillop as saying.

‘But that’s easy to say looking back,’ Wednesday’s paper quotes McKillop as saying.
The comment came during an announcement of a new round of redundancies at RBS. The paper says the bank is expecting to sack around 25% of the total 28,000 workforce.
The number includes redundancies as a result of the integration of RBS and ABN Amro activities and are mainly expected to fall in London, the paper says.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation