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ABN AMRO

Started by sajiv, Nov 25, 2008, 11:03 PM

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sajiv


Company Profile & facts

ABN AMRO begun a new future with the consortium of Fortis, RBS and Santander in October 2007. The combination of consortium businesses with ABN AMRO will result in an enhanced market presence, strengthened products and growth prospects.

This will deliver benefits to customers, who will gain from the increased scale and efficiency of the businesses. ABN AMRO has begun a new and exciting chapter in its history. In cooperation with its new consortium partners, ABN AMRO is making excellent progress in turning high-level transition plans into reality.

CHENNAI: ABN Amro Central Enterprise Services (ACES), the BPO arm of ABN Amro Bank, is set to scale up headcount to 5,000 by June '07, across its three locations in Chennai, Mumbai and Delhi.

ACES is evaluating a number of tier-II cities and State capitals for further expansion.

Paul Abraham, managing director, ACES, told ET in Chennai that BPO operations have grown to over 3,700 people, across Mumbai, Delhi and Chennai in the past four years, with an investment of about $50m in infrastructure, IT, staff and training.Employees from across all four banks worked together to create transition plans for the separation and transfer of the ABN AMRO businesses to the respective consortium banks. These plans were submitted to the Dutch Central Bank (DNB) and Works Councils for approval and in early March 2008, the DNB approved the overall transition plan, issuing a 'declaration of no objection'.

Some businesses will begin separation and integration sooner than others. Timing will depend on a number of factors, including the complexity of the separation task. BU Asset Management, for instance, officially transfered to Fortis on 1 April 2008, while BU Netherlands will not move until 2009.

Having been acquired by a consortium of three banks - Fortis, RBS and Santander - ABN AMRO is in the process of being separated and integrated into the consortium organisations.

With a presence in all of ABN AMRO's main regions, the consortium banks have the experience to integrate and grow its businesses to their full potential. Through focus, leadership and investment they can provide the strongest possible future. "We are looking at about eight locations, including Mangalore, Pune, Chandigarh, Hyderabad and Kolkatta," he said. The BPO would choose a centre based on the availability of infrastructure, talent, connectivity, hotels and even entertainment, he added. "These factors are important when you bring in customers, and also to retain talent," Mr Abraham said.

Mr Abraham said the BPO's attrition rate was lower than that of the industry. The perception of BPO work has changed as Indian BPOs take up high-value activities. Even some call-centre jobs that used to be seen as a low-skilled activity involved a high degree of knowledge, he said. ABN Amro was offering a range of high-value services to the bank's global business, he added. Mr Abraham said the BPO was pro-active in recruiting differently-abled people. Disabilities such as deafness, cerebral palsy and dyslexia demand a change in the processes.

"Once you make those changes, they are as good as others," Venkatesh Subbaraman, ED, services operations, transaction banking, ACES, said.

Products&services:
Personal Banking From opening a checking account online to buying the perfect home, ABN AMRO is the partners that can help clients take charge of their financial future by planning in the present.

ABN AMRO offers a range of products that meet the everyday financial needs of individuals. We serve millions of clients around the world, with leading operations in the Netherlands.

The wide range of financial services we offer enables us to build and expand long-term relationships with our clients.

We can help consumer clients in the following areas:

· Personal loans
· Credit cards
· Mortgages
· Savings
· Retirement planning
· Education planning
· Personal internet banking
· Insurance
· Online trading

Preferred Banking

ABN AMRO also offers a relationship-banking approach for mass-affluent customers, professionals and business owners. Our approach is designed to meet our clients' needs for individual recognition and fulfil their desire for a greater range of products and services, beyond simple banking transactions.

Private Banking
We offer highly personalised banking for our private clients, aiming to structure and enhance their wealth with services ranging from discretionary portfolio management to international estate planning and trust. Our Private Clients business ranks among the world's top ten (in AuA).

We are uniquely positioned to allow clients to tap into our global expertise and resources. Our aim is to help clients structure, manage and enhance their wealth, making sure they receive highly professional and confidential financial solutions.

Private clients have an assigned relationship manager who will discuss their unique financial circumstances with them and tailor products to meet their objectives.

Corporate and Institutional Clients

ABN AMRO is an international bank with local footprints. Our in-depth knowledge of the markets in which we operate, combined with a presence in most of the 60 countries ABN AMRO is active in, gives us the scope and global expertise to meet the banking needs of our corporate and institutional clients.

Our focus is on the mid-market. This is where we best utilise the strategic advantage brought about by our particular combination of clients, products and geographical markets. We target commercial clients in our local markets, and globally we service selected multinational corporations and financial institutions.

We offer service at the highest level. Our focus is not on short-term profit, but on building long-term relationships and standing by our clients whenever they need us.

We can deliver a full range of high-quality advisory, financing and operational services, tailored to best meet our clients' current needs and long-term goals.

Our client-facing teams have a thorough understanding of our clients' business objectives and challenges. The sectors we have developed expert insights in include healthcare and chemicals, general manufacturing, integrated energy, industrial, consumer and telecoms, media and technology. We also deliver corporate and investment banking services to some of the world's leading banks, insurance companies, investment managers and public sector organisations.

By sharing our expertise and operational excellence across the bank, our corporate and institutional clients are assured of best financial products and service available.

Historic Events / Press Room

The ABN AMRO Historical Archives Foundation was established on 15 May 1992. It aims to gather, archive and document material pertaining to the history of all the major companies that have joined through the years to form today's ABN AMRO. The Foundation also aims to make this information available for (art-)historical research.

The History Department (HD) has three major spheres of activity:

Historical Objects - The HD administers the historical collection of ABN AMRO. The collection includes a vast array of items such as antique maps and atlases, books, coins, furniture, photos, paintings, office machines and securities all spanning from the 17th -21st century. The HD is responsible for the collection's conservation, restoration, registration and acquisition.

Services - The HD conducts the documentation, i.e. the recording and description, of the main elements of the bank's business management. These are matters that are likely to remain items of interest in the future and are recorded in a systematic manner so as to create an accessible source for research in the field of corporate history. Based on the selected documentation, the HD functions as an encyclopaedia for all aspects in the field of banking history, also regarding the local, regional and international history of the bank and related art historical subjects.

Historical Records - The HD catalogues all non-current, policy-related documents and records of ABN AMRO and its most important legal predecessors. These cover the records of: ABN Bank, Amro Bank, Amsterdamsche Bank, Nederlandsche Handel-Maatschappij (Netherlands Trading Society), Nederlandsch-Indische Handelsbank (Netherlands India Commercial Bank), Rotterdamsche Bank and Twentsche Bank. Archives of subsidiaries and take-overs are included in the archives of the parent company. For instance, all records of Incasso-Bank are added to the archives of Amsterdamsche Bank and all records of Hollandsche Bank-Unie are added to the archives of ABN Bank. The HD as a rule does not keep personnel records or records and documentation of Dutch branch offices past and present, or records of non-Dutch subsidiaries, branch offices or predecessors.

11 August 2008

As part of its initiative to increase dialogue with shareholders, Fortis has launched a website for questions. The FAQs cover a wide range of topics including the impact of the credit turmoil on Fortis and the status of the ABN AMRO integration, and are available in English, Dutch and French.

08 August 2008

All information regarding the RBS interim results for 2008 can be found on the RBS website or the full announcement can be read here.

04 August 2008

Fortis's first half year net profit of EUR 1,638 million Net profit up 3% in second quarter 2008 to EUR 830 million, but environment is becoming more difficult.

Fortis first half year 2008 net profit of EUR 1,638 million, down 41% compared to a very strong first half of 2007. Excluding EUR 591 million net of tax impact of credit market turmoil, net profit decreased by 21% First half year 2008 Fortis Banking - Net profit of EUR 1,185 million. This is after EUR 409 million net of tax impact of credit market turmoil - Net profit, excluding impact of credit market turmoil, was 24% lower year-on-year mainly due to lower capital gains and an increase in impairments on loans - Reported total income 6% up. Excluding treasury and financial markets results and capital gains, total income increased by 4% - Total expenses 4% higher. Excluding integration costs and consolidation of ABN AMRO Asset Management, total expenses were slightly down.

For More Details / Updated / Source:http://www.abnamro.com