ABN-Amro Bank in talks with RBI over makeover

August 12th, 2008 - 8:51 pm ICT by IANS  


Mumbai, Aug 12 (IANS) ABN-Amro Bank India, which is planning a total makeover in operations, is in talks with the Reserve Bank of India (RBI) in this regard, said a top official here Tuesday. “A recast is expected at ABN-Amro Bank India operations, and we need suggestions and guidance from the RBI for the name change,” ABN-Amro country executive Meera Sanyal told reporters on the sidelines of a banking technology conclave.

Last year, the leading Dutch bank was acquired by a consortium of investors comprising Royal Bank of Scotland (RBS), Fortis and Banco Santander for 71 billion euros ($106 billion).

According to an arrangement worked out among the three parties, the Asian operations come under the control of the RBS, which wants to focus on retail banking and corporate banking in the future.

Sanyal expects the makeover will be completed by mid 2009.

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