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8 February 2010 - ABN AMRO completes legal demerger
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6 February 2010 - ABN AMRO Group announces the legal renaming of ABN AMRO Bank N.V. to The Royal Bank of Scotland N.V.
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23 December 2009 - ABN AMRO Bank N.V. and Deutsche Bank AG sign Share Purchase Agreement
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25 November 2009 - ABN AMRO Group reports third quarter 2009 financial results
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19 November 2009 - Proposed Supervisory Board of the combined bank
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19 November 2009 - Update on EC Remedy
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9 November 2009 - Update on separation
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20 Oct 2009 - Heads of Agreement with Deutsche Bank
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7 October 2009 - Split into the new ABN AMRO Bank and RBS N.V. in the 1st quarter of 2010
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5 October 2009 - European Commission agrees to extend remedy deadline to 19 October 2009
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18 September 2009: EC Remedy Update - Deutsche Bank has now terminated discussions regarding the purchase of NEWbank and IFN Finance
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As you may have read in the media and the messages from the Dutch Ministry of Finance, Deutsche Bank has now terminated discussions regarding the purchase of NEWbank and IFN Finance. The Ministry, together with the European Commission, is now considering alternative scenarios. In his letter to Parliament yesterday, Minister of Finance, Mr Wouter Bos, clearly stated his intention: "It is important that the strategy announced last year regarding the integration of ABN AMRO and Fortis can continue."
We have confidence in the discussions now being held and await their outcome. Meanwhile, our preparations for the intended integration will continue as planned and our service to you will remain unchanged.
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2 July 2009: ABN AMRO Group provides an update on capital actions
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11 June 2009 - ABN AMRO and RBS Sign Partner Bank Agreement for International Transaction Banking Clients
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25 May 2009 - ABN AMRO Group reports first quarter 2009 financial results
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27 March 2009 - ABN AMRO Group reports full year 2008 financial results
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ABN AMRO Group announces its full year financial results for 2008, with a profitable year for the businesses acquired by the Dutch State.
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26 February 2009 - The Royal Bank of Scotland Group PLC - Full Year Results 2008
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Read the full report here or visit the RBS website for more information surrounding the results.
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19 February 2009 - Appointment of ABN AMRO and Fortis Bank Nederland Transition Team
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Gerrit Zalm, Vice Chairman of the Managing
Board of ABN AMRO, has announced who will be appointed to the Transition
Team to lead the planning for the future combined bank. The members
of this team are also intended to form the Managing Board of the new
bank, which will be chaired by Gerrit Zalm.
The members of the Transition Team are:
- Gerrit Zalm Chairman
- Jan van Rutte Vice-chairman and Chief Finance Officer
- Caroline Princen Integration, Communication and Compliance
- Wietze Reehoorn Risk Management and Strategy
- Joop Wijn Commercial and Merchant Banking
- Chris Vogelzang Retail and Private Banking
- Johan van Hall Operations, Property and IT
Company Secretary: Gwendolyn van Tunen
Gerrit Zalm commented, "I'm pleased to present this team. In putting
the team together I have sought to achieve a mix of people from within
the two banks, as well as some people from outside. We will begin by
focusing on the strategy and organisation structure of the new bank.
We will also make plans for a compelling brand and a culture where employees
and customers feel at home. It will take some two months to complete
these plans."
Note for editor:
Press contacts: 00-31-(0)20 – 628 8900
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21 November 2008 - ABN AMRO welcomes Ministry of Finance decisions
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ABN AMRO welcomes today's announcement by the Netherlands Ministry of Finance of
its plans for the ABN AMRO and Fortis businesses that it has acquired.
We look forward to welcoming Gerrit Zalm as Deputy Chairman of ABN AMRO
and to working with him to complete the necessary separation of ABN
AMRO business units and the preparation of detailed plans for their
integration with Fortis.
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4 November 2008 - ABN AMRO CEO Mark Fisher to leave in 2009
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ABN AMRO Holdings N.V. (ABN AMRO) announces
today that Mark Fisher, Chairman of the Managing Board of ABN AMRO will
be leaving the Group during 2009 to pursue a new career opportunity.
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31 October 2008 - Statement on the competitive position of ABN AMRO Bank holding N.V. and its subsidiaries
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ABN AMRO Bank Holding N.V. declares
the following in connection with the 100% interest that the State of
the Netherlands has taken in Fortis Bank (Nederland) Holding N.V., Fortis
Verzekeringen Nederland N.V. and Fortis Corporate Insurance N.V.
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15 October 2008 - Nomination to Supervisory Board
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The Dutch Ministry of Finance has nominated Michael Enthoven to the Supervisory Board of ABN AMRO, subject to the necessary approvals.
Michael Enthoven, currently in the Ministry of Justice, brings many years' experience of banking having worked for JP Morgan from 1976 to 1998 and subsequently for merchant bank NIBC, where he became Chief Executive Officer in 2002.
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13 October 2008 - RBS announced capital raising and changes to senior management
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Today RBS announced the details of a plan for a capital raising of GBP 20 billion and a number of changes in its senior management. Sir Tom McKillop will retire as Chairman at the Group's Annual General Meeting in April 2009. Sir Fred Goodwin, Chief Executive, will step down and be replaced by Stephen Hester, currently Chief Executive of British Land and a non-executive director of the Group. In addition, Johnny Cameron, Chairman Global Markets, will step down from the Board with immediate effect.
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3 October 2008 - The State of the Netherlands fully acquires Fortis businesses in the Netherlands
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In close consultation with De Nederlandsche Bank (DNB), the Minister of Finance today took over all shares of Fortis Bank Nederland (Holding) NV, Fortis Insurance Netherlands NV and Fortis Corporate Insurance NV.
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1 October 2008 - Fortis statement on Fortis Ping An asset management partnership
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In order to provide clarity to the market and in the context of the current severe market disruption and the ongoing uncertainty in the global capital markets, Fortis announces that it expects not to be able to complete the asset management partnership with Ping An.
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1 October 2008 - Fortis update regarding Artemis Asset Management
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Fortis has increased its equity interest in Artemis Asset Management Limited ("Artemis"), a UK based investment management firm, from 67.1% to a sole shareholding position. ABN AMRO Asset Management had held a majority interest in Artemis since 2002, which was transferred to Fortis in April 2008. The step-up investment was pursuant to a prior contractual arrangement with Artemis management shareholders. The cash consideration was EUR 397.2 mln (GBP 317.2 mln).
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1 October 2008 - Fortis statement on DNB decision for EC Remedies sale
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Fortis has been informed by De Nederlandsche Bank (DNB), the Dutch central bank, that the decision for approval of the sale of several ABN AMRO assets to Deutsche Bank will not be made until further notice, following further review. DNB referred to the exceptional circumstances on international financial markets, the uncertainty with regard to the future shareholder in ABN AMRO Bank and the implications of this uncertainty for all parties involved.
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30 September 2008 - The Royal Bank of Scotland Group plc ("RBS") Statement on RFS Holdings
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Further to the announcements by Fortis yesterday, RBS confirms that the sale of Fortis interests in RFS Holdings would not affect the integration benefits envisaged by RBS, nor would it affect the businesses to be retained by RBS.
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29 September 2008 - Governments of Belgium, Luxembourg and the Netherlands invest EUR 11.2 bln in Fortis
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Governments of Belgium, Luxembourg and the Netherlands will invest EUR 11.2 bln in the respective Fortis bank institutions in each country. As a requirement of this deal, Fortis will sell its interest in ABN AMRO (RFS Holdings).
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26 September 2008 - Fortis nominates Filip Dierckx as new CEO
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Today, the Fortis Board of Directors has decided unanimously to nominate Filip Dierckx as the new CEO of Fortis, succeeding Herman Verwilst. He will formally be appointed CEO after approval by a general shareholder meeting to be announced in due course. As of today and up until this time, Filip has been granted full CEO authority.
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26 September 2008 - Fortis clarifies commercial and financial situation
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In response to continued market rumours
and questions, Fortis provides an update on its financial situation.
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25 September 2008 - Fortis firmly denies rumours currently in the market and confirms its earlier statements
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Fortis firmly denies rumours currently in the market and confirms its earlier statements.
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24 September 2008 - Squeeze out of ABN AMRO minority shareholders completed
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On 22 September 2008, RFS Holdings B.V., the company incorporated by RBS, Fortis and Santander to acquire ABN AMRO Holding N.V. ("ABN AMRO"), completed the squeeze out of minority shareholders of ABN AMRO. As a result, RFS Holdings B.V. has now become the sole shareholder of ABN AMRO.
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18 September 2008 - Sachin Tendulkar joins RBS as Global Ambassador
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The Royal Bank of Scotland Group (RBS), one of the world's leading financial services companies, today announces that India's cricketing legend, Sachin Tendulkar has become an RBS Global Ambassador. This marks RBS' first major sponsorship in Asia Pacific where Sachin will represent RBS in its key markets including India and the Middle East.
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11 August 2008 - Fortis launches website for questions
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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.
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8 August 2008 - RBS interim results 2008
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All information regarding the RBS interim
results for 2008 can be found on the
RBS
website or the full announcement
can be read
here.
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4 August 2008 - Fortis's first half year net profit of EUR 1,638 million
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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.
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1 August 2008 - Fortis announces further initiatives to improve dialogue with shareholders
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Fortis announces further initiatives to improve dialogue with shareholders Information meetings scheduled in Belgium and the Netherlands Fortis announces that its increased communications efforts will be continued through the organisation of information meetings with shareholders. These meetings will be held in Belgium and the Netherlands in the second half of August.
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1 August 2008 - Fortis CFO, CRO and General Counsel to report to CEO
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As from today, the Fortis Chief Financial Officer, Lars Machenil, the Chief Risk Officer, Fred Bos, and the General Counsel, Jeannine Quaetaert, will report directly to the Fortis CEO Herman Verwilst. This further strengthens the authority of these key control functions.
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29 July 2008 - Banco Santander first half attributable profit rose to EUR 4.73 billion, up 22% from 2007, excluding capital gains
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The efficiency ratio stood at 40.4%, an improvement of 4.2 percentage points from a year earlier
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24 July 2008 - Banco Real legally transfers to Santander
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In line with the transition plan, ownership of Banco Real Brazil has now been legally transferred from ABN AMRO to Santander.
While ABN AMRO's operations in Brazil have now officially transferred, activities in Uruguay and Paraguay are planned to move to Santander in the last quarter of 2008. ABN AMRO's remaining businesses in Latin America will also transfer to RBS later this year.
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15 July 2008 - Fortis Statement on market speculation
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In response to exceptional market speculation, Fortis feels it necessary to issue the following statement.
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11 July 2008 - Changes in the management of Fortis
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The Board of Directors of Fortis and Mr Jean-Paul Votron have decided, by mutual agreement and in the interest of the Group, to terminate the mandate of Mr Jean-Paul Votron as Fortis CEO.
Herman Verwilst, currently Fortis deputy CEO and executive member of the Board, has agreed to take over the Group CEO function. The board is convinced that Herman Verwilst, given his longstanding experience in Fortis, is well equipped to lead the company in these challenging times and environment.
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2 July 2008 - Fortis, ABN AMRO and Deutsche Bank agree on sale of parts of ABN AMRO Business Unit Netherlands
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Fortis, ABN AMRO and Deutsche Bank announced today that they have signed an agreement by which Deutsche Bank will acquire from ABN AMRO parts of its commercial banking activities in the Netherlands for EUR 709 million in cash.
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27 June 2008 - Fortis completes capital increase
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Fortis announces that its accelerated bookbuilding offering announced yesterday was completed after receiving substantial demand from institutional investors. Merrill Lynch International, JP Morgan, Morgan Stanley and Fortis Bank have accordingly, placed 150,000,000 new Fortis unified shares ("New Shares") at EUR 10.00 per New Share; the total gross proceeds of the offering amount to EUR 1.5 bln.
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26 June 2008 - Fortis accelerates the execution of its solvency plan
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Fortis announces today its intention to accelerate its solvency plan. Fortis confirms that its current solvency is strong and that the commercial momentum of its businesses remains resilient. The decision to accelerate the plan is based on the expected outcome in the coming weeks of the imposed sale of some of the Dutch commercial banking activities under the European Commission (EC) remedies ruling, the planned acquisition of the remaining 51% stake in the Dutch insurance joint venture with Delta Lloyd, and anticipates a continued challenging market environment as well as taking a prudent stance on required capital in the current environment.
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16 June 2008 - Fortis launches 'Life is a curve' campaign
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Fortis will launch on 16 June its first fully integrated advertising campaign. The 'Life is a curve' campaign encourages people to think about their financial needs today and plan for tomorrow, with the help of a trusted partner such as Fortis. It brings together for the first time all Fortis businesses and international activities under one brand concept, reflecting the company's growth and ambition as one of Europe's most dynamic and sustainable financial services companies.
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2 June 2008 - Banco Santander completes the sale of Antonveneta to Banca Monte dei Paschi di Siena
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Banca Monte dei Paschi di Siena (BMps) and Banco Santander completed today the sale of Antonveneta for EUR 9,000 million, executing the agreement announced on November 8, 2007.
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22 May 2008 - Fortis reports strong progress in the integration of ABN AMRO
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At its Investor Day in Brussels today, Fortis will reconfirm the timetable that will lead to the full integration of the businesses it acquired from ABN AMRO in 2007. It will also provide further details on expected synergies, which are now confirmed at EUR 1.3 billion by the end of 2010, as previously announced.
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22 April 2008 - RBS update on trading and capital
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RBS have released an update today outlining a number of actions to strengthen its capital position.
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18 April 2008 - Fortis Private Banking announces future management structure
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Fortis Private Banking has announced the future management structure and senior appointments at the future combined private bank.
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1 April 2008 - BU Asset Management legally transfers to Fortis Investments
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Marking an important milestone in the transition of ABN AMRO to its new owners, BU Asset Management was legally transferred to Fortis Investments on 1 April 2008.
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25 March 2008 - ABN AMRO HOLDING N.V. applies for de-listing of shares
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ABN AMRO Holding N.V. has resolved to apply for de-listing of its ordinary shares with a par value of €0.56 each ( "Ordinary Shares") and the (formerly convertible) preference shares with a nominal value of €2.24 each from Euronext Amsterdam by NYSE Euronext ("Euronext Amsterdam"), the regulated market of Euronext Amsterdam N.V. and to apply for the de-listing of its American Depositary Shares ("ADSs"), each representing one Ordinary Share from the New York Stock Exchange.
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19 March 2008 - Ping An and Fortis to enter into a global asset management partnership
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Ping An intends to acquire a 50% stake in Fortis Investments Fortis and Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or "Ping An Group") today jointly announced the signing of a Memorandum of Understanding ("MOU") to form a global asset management partnership. Ping An intends to acquire a 50% equity stake in Fortis Investments*, the global asset management arm of Fortis, for a consideration of EUR 2.15bn (RMB 24.02bn**). Through this partnership, Ping An would significantly advance its strategy to establish a global asset management business and a Qualified Domestic Institutional Investor ("QDII") platform while Fortis would significantly accelerate the development of its business in both China and Asia Pacific.
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7 March 2008 - Fortis's full-year net profit at EUR 4.0 bln on continued strong commercial activity in banking and insurance
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Fortis have released its full year results for 2007.
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28 February 2008 - ABN AMRO Group financial results 2007
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Operating income increased by 5% to EUR 17,268 mln, reflecting good growth in Latin America, Asia and The Netherlands, where revenues grew by 28%, 30% and 7% respectively. Adjusted* operating income increased by 2% as ABN AMRO recorded a EUR 1,561 mln credit market related write-down in its Global Markets business due to the significant downturn in credit markets. ABN AMRO's valuation methodology was aligned to that of Royal Bank of Scotland Group's (RBS) in the fourth quarter of 2007. Excluding the write-down, adjusted operating income was up 12%.
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28 February 2008 - Update on transition
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Key developments that have taken place
from December 2007 to February 2008.
5 December: RBS and Fortis announced they have reached agreement on
the future of ABN AMRO's Amsterdam dealing room, Private Investor Products
(PIP) business and the split of the Netherlands clients units.
10 December: In a message from ABN AMRO Chairman Mark Fisher to all
ABN AMRO staff, he informed them that a draft plan for the transition
of the businesses to the new owners was approved by the Managing Board
and would be submitted to the Dutch Central Bank (DNB).
24 January: Fortis
announced it would house its Netherlands head office
and major client-oriented businesses at the Gustav Maherlaan and Foppingadreef
buildings in Amsterdam. It will also maintain its head office in Brussels.
31 January: ABN AMRO
received regulatory permission to proceed with separation
of the Asset Management business to Fortis, which is expected to be
effective by the end of March 2008.
5 February - Fortis and RBS reached
agreement that the ABN AMRO Private Clients businesses in India and
Indonesia will become part of the RBS group
8 February: Decisions about ABN AMRO businesses in Latin America were
confirmed. Joining Santander will be Banco Real, including the Global
Clients business in Brazil (Brazilian Global Clients as well as the
Brazilian subsidiaries of foreign Global Clients), and the businesses
in Uruguay and Paraguay. Joining RBS will be the businesses in Argentina,
Chile, Colombia, Mexico and Venezuela; RBS will also invest in establishing
a presence in Brazil, assisted by Santander.
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6 December 2007 - RBS Group Trading Statement issued today includes a reference to the performance of ABN AMRO Group
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RBS Group are making their customary year-end 2007 Trading Statement which has been issued separately today. It makes reference to the current trading performance of ABN AMRO Group, which is summarised below.
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2 November 2007 - Fortis, RBS and Santander Update on Acceptances of ABN AMRO Ordinary Shares
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Fortis, RBS, Santander (collectively the "Banks") and RFS Holdings are pleased to announce that, following the expiration of the subsequent offering period on 31 October 2007, a total of 1,826,332,482 ABN AMRO ordinary shares (including shares underlying 37,925,911 ABN AMRO ADSs) have been tendered or will be contributed by the Banks to RFS Holdings, representing approximately 98.8% of ABN AMRO ordinary shares. During the subsequent offering period, 236,099,027 ABN AMRO ordinary shares (including shares underlying 2,693,888 ABN AMRO ADSs) were tendered to RFS Holdings, representing approximately 12.8% of ABN AMRO ordinary shares.
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26 October 2007 - Fortis, RBS and Santander Update on Acceptances of ABN AMRO Ordinary Shares
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Fortis, RBS, Santander (collectively the "Banks") and RFS Holdings are pleased to announce that more than 95% of ABN AMRO ordinary shares (including shares underlying ABN AMRO ADSs)* have been tendered or will be contributed by the Banks to RFS Holdings with the result that the Banks may, if they so choose, initiate a squeeze-out in order to acquire the remaining ABN AMRO ordinary shares.
This is a further important milestone in the acquisition by the Banks of ABN AMRO.
RFS Holdings intends to cause the delisting of ABN AMRO shares, and intends to acquire 100% of ABN AMRO's issued and outstanding share capital in the shortest possible time through the appropriate legal process.
* Excluding treasury shares held by ABN AMRO
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17 October 2007 - ABN AMRO publishes agenda for Extraordinary General Meeting of Shareholders on 1 November 2007
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ABN AMRO today has published the agenda for the Extraordinary General Meeting of Shareholders, (EGM), to be held on 1 November 2007, at the head office of ABN AMRO, Gustav Mahlerlaan 10, Amsterdam, at 11.00hrs.
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11 October 2007 - Letter to ABN AMRO employees
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Yesterday the Consortium's offer for ABN AMRO became unconditional which means that the way is clear for us to complete our offer very shortly. We can now begin to focus on the tremendous opportunities for growth the combination of our businesses create.
At the outset we would like to emphasise that we are even more enthusiastic about the prospects for our combined businesses than we were at the start of the offer process. ABN AMRO is a good business with great options for growth in attractive markets and many excellent people around the world. It is no accident that the group has confirmed its earnings performance despite recent market turbulence. Combining ABN AMRO with three of the strongest banks in Europe will make all of our businesses stronger than they have ever been, significantly enhancing both competitive positions across our markets and our prospects for the future.
We share a common culture of putting our customers first and focusing on their needs every day. We know that if we do not look after our customers, our competitors will do it for us and we do not intend to let that happen. When the ownership of a company changes hands, however, it can quite naturally create some uncertainty, especially amongst employees. So the needs of our people are a particular priority at this time of change.
It is difficult to provide sufficient clarity for everyone in a general Day One communication such as this. We know that business and function specific messages will be more relevant. You will therefore soon see communications in your own Business Units and functions, clarifying our efforts to make things happen for our combined businesses.
We are taking a first significant step towards providing greater clarity by publishing, separately today, nominations to extend the Supervisory and Managing Boards' structure. This includes details of how existing responsibilities map onto the proposed new structure to help all colleagues understand how their business will be led. The nominees for the board demonstrate our commitment to select the best talent from the enlarged pool of people available across all of our banks. We will adopt a similar approach to selection in every area of our combined businesses.
We have significant ambitions to grow our combined businesses and clear plans for how to take them forward. We will be seeking input directly from you and through consultation with key stakeholders to validate our thinking, strengthen our plans and identify further opportunities.
This is an important moment for all of us. The combination of our businesses will create formidable competitive forces in every market. The scale of the opportunity is very exciting. Our challenge together is to make it happen. We start today.
Sir Fred Goodwin
Chief Executive
RBS
Mr John-Paul Votron
Chief Executive
Fortis
Mr Emilio Botin
Chairman
Santander
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11 October 2007 - Joint Message from ABN AMRO, Fortis, RBS and Santander
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ABN AMRO, Fortis, RBS and Santander announce today the nominations for the new structure and membership of the Supervisory and Managing Boards of ABN AMRO, together with their proposed responsibilities. These are subject to the completion of the appropriate approval process including an Extraordinary General Meeting of shareholders called for by ABN AMRO at the earliest practical date as well as consultation with all relevant staff representative bodies.
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10 October 2007 - Consortium declares ABN AMRO Offer unconditional
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Fortis, RBS, Santander (collectively, the "Banks") and RFS Holdings have declared wholly unconditional the offer for ABN AMRO ordinary shares and ABN AMRO ADSs (the "Ordinary Shares Offer") and the offer for ABN AMRO Formerly Convertible Preference Shares (the "Preference Shares Offer", and, together with the Ordinary Shares Offer, the "Offers"). Settlement of the Offers will take place on 17 October 2007.
ABN
AMRO press release
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8 October 2007 - Fortis, RBS and Santander Update on Acceptances of ABN AMRO Ordinary Shares
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Fortis, RBS, Santander (collectively the "Banks") and RFS Holdings announce, thus far, 1,590,339,614 ABN AMRO ordinary shares (including shares underlying 35,341,532 ABN AMRO ADSs) have been tendered under the Offer or will be contributed by the Banks to RFS Holdings. These represent approximately 86% of ABN AMRO ordinary shares.
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4 October 2007 - Fortis, RBS and Santander - Announcement concerning ABN AMRO Convertible Financing Preference Shares
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Fortis, RBS and Santander (collectively, the "Banks") today announce that RFS Holdings B.V. will offer €0.59 in cash per Depository Receipt representing ABN AMRO Holding N.V. Convertible Financing Preference Shares.
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2 October 2007 - US Securities and Exchange Commission has today declared effective
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In connection with the proposed acquisition by RFS Holdings of ABN AMRO and further to their announcement of 28 September 2007 regarding U.S. regulatory matters, Fortis, RBS and Santander (collectively, the "Banks") announce that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form F-4 (the "Form F-4") filed by RBS, which includes the U.S. offer document, thereby satisfying in part condition (h) of the offer. As a result, RBS will now also be permitted to issue its ordinary shares upon settlement of the offer to ABN AMRO shareholders and ADS holders in the U.S. in satisfaction of RFS Holdings's obligations under the terms and conditions of the offer (as described in further detail in the U.S. offer document). Copies of the Form F-4, including the U.S. offer document, may be obtained free of charge from the SEC's website, http://www.sec.gov.
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28 September 2007 - Fortis, RBS and Santander announcement regarding US regulatory matters
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On 21 July 2007, Fortis, RBS and Santander (collectively, the "Banks") formally launched their offer, through their acquisition vehicle RFS Holdings, for ABN AMRO (the "Offer"). The Banks have since announced a number of developments regarding the Offer, including the obtaining of certain shareholder and regulatory approvals. The following announcements are made in order to comply with US regulatory requirements.