Monday 05 December 2022

2015 may be a good moment for ABN Amro flotation: CEO Zalm

ABN Amro chief executive Gerrit Zalm sees early 2015 as a good time to float ABN Amro on the stock exchange ‘if [the economy] really starts to grow this year and that is translated into figures’.

However, Zalm told parliament’s finance committee on Wednesday that no one would be hurt if the stock exchange launch takes place later and finance minister Jeroen Dijsselbloem is at liberty to delay a decision.

The cabinet said at the end of August the nationalised bank had a year to get ready for a listing. However, this will not happen until the financial sector is sufficiently stable, the company is ready and there is enough interest in the market, prime minister Mark Rutte said at the time.

ABN Amro was nationalised in 2008

The cabinet estimates a flotation could raise €15bn. According to the Financieele Dagblad, the state has invested €29bn in keeping ABN Amro afloat, which would mean taking a considerable loss.

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