Word: abn
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...taking control of the Belgian and Luxembourg assets of finance and insurance group Fortis, less than a week after it was partially nationalized as part of a $16.4 billion rescue plan. The Dutch government had moved on Friday to nationalize fully the group's Dutch assets, including the bank ABN-Amro. As a consequence of its estimated $21 billion move for Fortis, BNP will be the largest commercial bank in Belgium - and the Belgian government becomes BNP's biggest shareholder...
...Indeed, falling U.S. consumer spending and the drying up of credit create big problems for Asian companies that may not be reflected in their current stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Cheung, a corporate director in ABN Amro's Asian markets trading business in Singapore. "That's the scary part." Cheung expects a further decline of 20% to 30% in Asian equity markets...
That drop in U.S. consumer spending along with the drying up of credit could well create a huge problem for Asian companies yet to be reflected in their stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Chung, a corporate director in ABN Amro's Asian markets trading business in Singapore. 'That's the scary part.' Chung expects a further decline of 20% to 30% in Asian equity markets. Not everyone is so bearish; Kowalcyzk predicts a further decline this year of 5%. But with most Asian markets already down 30%, or close...
Even for a proud old bank like Belgo-Dutch giant Fortis, with nearly 300-year-old roots and Catherine the Great among its historic clients, playing a role in last fall's $100 billion takeover of Dutch rival ABN Amro was a big moment. In the largest financial services deal ever signed, Fortis - part of a consortium alongside the Royal Bank of Scotland (RBS) and Spain's Santander - put up $34 billion in return for ABN's Dutch banking business, among other assets...
...staff of 85,000, is Europe's largest to be bailed out so far since the credit crisis began. It was a last resort, coming after all efforts to flog the bank or its parts to rivals amounted to nothing. Fortis agreed to dump the once-prized stake in ABN, which weighed heavily on its balance sheet...