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Article: Almost all ABN losses lie with RBS.
- Article from:
- Europe Intelligence Wire
- Article date:
- May 26, 2009
CopyrightCOPYRIGHT 2009 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(From Banking Newslink)
ABN AMRO reported a LOSS of €886m (GBP778m $1,238m YEN116.4bn Y8,447m) for Q1. Royal Bank of Scotland businesses reported a LOSS of €928m whilst the Dutch State elements made a profit of €87m and Santander a profit of €3m (shown as discontinued business). There was €48m of group losses not contained within the above which will presumably be split between the three parties in some fashion.
With the separation of Banco Real, Santander is no longer involved with the remainder of ABN AMRO. The Dutch state and RBS expect to complete their preparations for the splitting of the remainder of ABN AMRO shortly and ...