Amsterdam to be 'new global banking centre'

26 September 2007

Royal Bank of Scotland (RBS) wants to create a new global banking centre in Amsterdam if its bid for ABN Amro is a success.

The RBS consortium is thought to be close to sealing a deal for the Dutch bank, ahead of rivals Barclays, after it offered $98.6 billion for ABN.

The takeover would lead to RBS taking over wholesale banking, Santander taking over the Italian and Latin America sector, and Fortis would be take care of ABN's Dutch and private banking projects.

Speaking to the Scotsman, Johnny Cameron, chief executive of RBS's corporate market division, said: "The proposed transaction with ABN Amro would give RBS the opportunity to grow our presence in the Netherlands which we intend to do significantly.

The centre in Amsterdam would be RBS's middle and back office for Euro transactions, as well as the base for international cash management and clearing activities.

The offer on both bids ends on October 5th when ABN will have to make a decision on them.

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