ABN Amro takeover a ‘bad mistake’

The takeover of parts of ABN Amro by Royal Bank of Scotland was a ‘bad mistake’ RBS former chairman Tom McKillop told the British parliament’s treasury committee on Tuesday, reports the BBC.

‘The deal was a bad mistake. We didn’t fail, we did in fact make a bad mistake in purchasing ABN Amro,’ he was quoted as saying.
British MPs are questioning top bankers about the credit crisis on Tuesday.
RBS booked record losses of around €22bn last year, largely as a result of the ABN Amro transaction.

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