Royal Bank of Scotland could franchise ABN Romania

Publish date: 10-12-2007
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ABN Amro Romania, local division of the Dutch bank, could be sold or franchised by the Royal Bank of Scotland (RBS). These are the options expected by the analysts and Scottish bank’s evaluators, Business Standard daily reports. 'The ABN Amro deal creates some very attractive options for growing our international retail franchise in new markets in Europe, for example Romania where ABN Amro has a strong presence,' RBS spokesperson, Linda Harper.
The Transition Plan regarding the division of ABN Amro among members of a Consortium made up of RBS, Fortis and Santander is due to be finalized and submitted to the Dutch National Bank (DNB) by tomorrow, 11 December, but will not be made public, according to RBS representatives.

This means that the fate of ABN Amro Romania is unlikely to be clarified this year. Some analysts are even expecting RBS to forego operations on the Romanian market. When Royal Bank of Scotland took over Business Unit Europe, it also acquired the Romanian retail division of the Dutch bank.

This results in the entry onto the Romanian market of the United Kingdom’s second-largest bank and one of the most powerful international banks. However, it is unclear how long the bank will remain on this market.

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