AMSTERDAM: As reconstructed Dutch bank ABN Amro prepares to go back to the stock market, the bailed-out lender’s modest new profile appears to be chiming with crisis-hit, risk-averse investors.
ABN Amro was bought for $100bn by Royal Bank of Scotland, Fortis and Santander seven years ago but then had to be taken over by the Dutch government during the financial crisis. Now it is valued at just ¤15bn ($21bn) and its scaled-back business depends on the Netherlands for 80 percent of its earnings.
Changing the marketing line from “international financial giant” to “Dutch retail bank” was tough initially for chief financial officer Kees van Dijkhuizen. But the response from potential shareholders has been telling: while around 25 people dialled in to the bank’s first investor call in summer 2011, the last call in February had about 100 participants.
Agencies
