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.
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