Deutsche acquires ABN AMRO’s Dutch assets
Deutsche Bank is set to become the fourth largest provider of corporate and investment banking in the Netherlands following a deal overnight to acquire ABN AMRO’s commercial banking activities in Holland.
The deal was confirmed in a joint announcement by Fortis, ABN AMRO and Deutsche and is consistent with commitments made by Fortis last year to the European Commission aimed at addressing concerns about the concentration in the Dutch banking market resulting from Fortis’ acquisition of ABN AMRO’s assets.
The businesses to be acquired by Deutsche service over 35,000 commercial business clients as well as 8,000 private clients and employ 1,400 people.
Once the transaction is complete, the businesses will use the Deutsche Bank brand name and become part of the firm’s Global Transaction Banking business.
AUTHOR
Mike Taylor
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