ABN AMRO History Department
ABN AMRO, 1990-pReseNt
The merger, 1990-1991
On 22 September 1991, the two largest general banks in the Netherlands, Algemene Bank Nederland (ABN) and Amsterdam-Rotterdam Bank (Amro), merged. The resulting company adopted the name ABN AMRO. The two principal motives for the merger were to concentrate strengths and to scale up business internationally. The South American operations of ABN AMRO’s subsidiary Hollandsche Bank-Unie were combined with those of Banco Real under the name Banco ABN AMRO Real. In the following years, more Brazilian take-overs followed, and the country became the company’s third home market after the Netherlands and the United States. Multiple take-overs occurred in Europe as well, such as that of the London stockbroking firm Hoare Govett (1992), the Swedish investment bank Alfred Berg (1995) and the centuries-old German private bank Delbrück & Co. (2002), which was merged with BethmannMaffei, an acquisition from 2004. In France Banque Odier Bungener Courvoisier, Banque Demachy and Banque du Phénix were acquired and merged with Banque de Neuflize, Schlumberger, Mallet to become Banque NSMD. After a long and controversial struggle regarding Banca Antonveneta, ABN AMRO acquired a majority stake in this Italian bank at the start of 2006.
Barriers to growth
An important reason for the creation of ABN AMRO was international strengthening and expansion. This goal was
National and international expansion, 1990-2007
In September 1990, the consumer credit activities in The Netherlands via intermediaries of the subsidiaries Finata, IDM and Mahuko were brought under a new subsidiary Interbank (sold in 2007). Two private subsidiary banking companies also merged in 1991 to form Nachenius Tjeenk & Co. (sold in 2005). Two years later, two more subsidiaries Bank Mees & Hope and Pierson, Heldring & Pierson merged to form MeesPierson. Since these companies primarily competed with ABN AMRO in the Dutch market,...
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