ABN Amro reports loss of 1bn euros

Thursday, November 26, 2009
THE HAGUE: Bank group ABN Amro reported a third-quarter loss of a billion euros ($1.5 billion) on Wednesday, including a 32-million-euro loss for the Dutch state which gave it a three-billion-euro cash boost last week.

This brought the bank’s losses for the year to September 30 to 3.6 billion euros, the bank said in a statement.

A loss of 873 million euros in the third quarter accrued to the parts of ABN Amro’s business acquired by the Royal Bank of Scotland (RBS), it added.

“The results of the RBS acquired businesses continue to be impacted by financial and credit market volatility and business transfers,” said the statement. ABN Amro was acquired in 2007 by a consortium grouping RBS, Santander and the Dutch-Belgian banking and insurance group Fortis.