The parts of ABN Amro that were acquired by the Dutch government are once again an independent bank. The legal split between ABN Amro and Royal Bank of Scotland was completed last week on 6 February. "We have reached an important milestone in the separation process," said ABN Amro CEO and former minister of finance Gerrit Zalm.
As a result of the legal split, there are now two new independent banks in the Netherlands, and also in Germany, Austria and Switzerland: government-owned ABN Amro NV and the Royal Bank of Scotland NV, which is owned by RBS Group plc.
In October 2007 the ABN Amro Group was taken over by a consortium comprising RBS, Fortis and Santander. The ABN Amro activities that were initially taken over by Fortis were acquired by the Dutch government on 24 December 2008.
The split impacts products listed on SRP's Dutch databases, as the name of the legal entity of the recently issued DJEurostoxx50 Bull Booster Note, Philips Bonus Rendement Certificate and the monthly tranches of the Wereld Garantie Note, has changed from ABN Amro NV to Royal Bank of Scotland NV. Terms and conditions remain unchanged. The products retain their listing and can be traded via banks and brokers in the Netherlands.
These products appear on the Dutch database.