ABN AMRO

It is an essential Dutch bank that offers products to commercial and institutional clients to provide them with investment, credit, and insurance services. It is among the 20 most important institutions in Europe. It is among the largest banks in the Netherlands. Specifically, it is the 3rd.

History

This bank emerged from the union of two prominent banks of that time on September 22, 1991. Those banks were ABN (Algemene Bank Nederland) and Amro (Amsterdam-Rotterdam Bank). The bank was created from their union and was called ABN AMRO. ABN and Amro banks were founded in previous years by the union of other banks because they wanted to strengthen the banking business.

When the bank was established, they bought several institutions, such as the Federal Savings and Loan Association Talman Home, the Standard Federal Bank and the National Bank of Michigan. They also decided to buy international institutions such as The Chicago Corporation (United States) in 1995, Royal Bank (Brazil) in 1998, and Antonveneta Bank (Italy) in 2006. In this way, they could achieve their goals and grow, both nationally and internationally.

In 2005, these objectives had not yet been achieved. In the following years, they began to have debts and consequently, economic problems that threatened their goals. The liabilities increased considerably due to loans acquired and that had not been fulfilled. The value of the bank’s shares fell, so, this meant a setback in the international expansion that the bank so desired.

That led to an investigation to consider the possible collapse or acquisition of ABN AMRO Bank. To acquire it, RFS Holdings (formed by Royal Bank of Scotland (RBS), Fortis and Banco Santander) made an offer for the bank’s shares. On the other hand, Barclays also made an offer along with ABN AMRO Bank, to keep the shares. Many shareholders accepted the RFS Holdings offer on October 17, 2007. Subsequently, the shares were distributed among the members of RFS Holdings.

A year later, due to the financial crisis, one of the members of RFS Holdings, Fortis, felt the problems that ABN AMRO Bank had before. That meant that Fortis shares would go down and the Dutch government would then buy those shares for 16,800 million euros to reintegrate all the components and form the ABN AMRO Bank in 2010.

Routing Number

The route number identifies the bank. Usually one of its uses is in bank transfers. It contains nine digits: 026009580.

Number of Employees

The last employee count was carried out on September 30, 2018. ABN AMRO has 18,720 employees.

Rating

The rating measures the capacity of a bank to pay debts. Several agencies evaluate it.

ABN AMRO Bank has a rating of:

  • Moody’s = A1.
  • S&P = A.
  • Fitch = A+.

A1 (Moody’s) = It refers to a medium-high quality, low credit risk, but with elements that have a long-term risk susceptibility.

A (S&P Global) = It means that the economic situation could affect the financing.

A+ (Fitch) = It has excellent solvency capacity and low risk of default.

Headquarters

ABN AMRO Bank has its office in Amsterdam, Netherlands.

Website

To access the bank’s website : http://www.abnamro.com

Services

1. Personal Banking : It allows the customer to have a checking account that he can use daily anywhere.

2. Private Banking : They provide services in the account of clients who have up to 1 million euros or more in investment.

3. Commercial Clients : The client will have qualified personnel in all business and administrative banking operations, both Nationally and Internationally.

Contact

Address: It is located at Gustav Mahlerlaan 10, 1082 PP Amsterdam.

Phone Number: +31 10 241 1720 (To call Customer Service from outside the Netherlands).