Your questions
Q: What attracted the consortium banks to ABN AMRO? A: ABN AMRO is a business with strong customer franchises and good options for growth in attractive markets. More than anything, it is widely accepted that ABN AMRO is a bank with excellent people around the world. 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 their competitive positions, with deeper relationships with more customers, in more markets and the scale to achieve world-class efficiency in our operations. The consortium banks now want to invest in ABN AMRO's businesses and make the changes needed to enable the businesses to achieve their full potential together. Between them the consortium banks and ABN AMRO can deliver the investment required to take advantage of the options for growth. Q: Why does each of the consortium banks want to own different parts of ABN AMRO? A: ABN AMRO is an attractive bank with strong customer franchises and great people. There have, however, been issues with its strategy and the way it is currently organised as a business. The consortium banks believe that these are issues which are relatively easy to fix, but require some degree of reorganisation. RBS, Fortis, and Santander chose to form a consortium to buy ABN AMRO because they recognised that there are better owners for the different parts of the ABN AMRO business than any single owner. The consortium banks believe that RBS, Fortis and Santander will create better futures for the businesses and the people who work in them. Collectively, the three banks believe they will be able to invest more in these businesses than any single owner could. Q: Who will own which parts of ABN AMRO? A: The consortium banks will each be acquiring those parts of ABN AMRO that best fit with its existing businesses and strategic priorities. Find out more about each of the consortium member's plans: Q: Will the consortium banks be able to successfully integrate ABN AMRO? A: The consortium banks would not have entered into this transaction if they did not believe that they could successfully integrate the ABN AMRO businesses. The three consortium members have successfully integrated over 100 businesses in the last 15 years by focusing on investment in people, products, technology and new opportunities. They intend to do the same with ABN AMRO, harnessing the experience and expertise of the existing workforce, its product capabilities and infrastructure. RBS, Santander and Fortis all have an excellent track record in large-scale integrations. Q: What will the transaction mean for the Netherlands? A: Amsterdam is one of the most attractive business locations in Europe and one of the world's leading financial centres. The acquisition of ABN AMRO gives RBS the opportunity to grow its presence in the Netherlands, which it intends to do significantly. Along with many other advantages, it gives the RBS Group access to a pool of very talented people with a range of specialist international banking skills and a high quality technology infrastructure, creating a platform for growth in Amsterdam. RBS views the opportunity to grow and invest from a Dutch base and with Netherlands-based employees as extremely positive, and will locate a new Global Banking Operations Centre in Amsterdam. Fortis is an ambitious, growth-orientated company with a 300 year history in, and long term commitment to, the Netherlands. Fortis values the ABN AMRO people, brand and businesses and it plans to expand the brand's retail presence in the Netherlands. The combination of Fortis and ABN AMRO in the Netherlands will create a leading retail and commercial bank and a dynamic financial services provider. The combined business will be regulated in the Netherlands and Fortis welcomes the economic, regulatory and social responsibility that will come from its new status. Q: Will the ABN AMRO brand be kept? A: Fortis intends to expand the ABN AMRO retail brand by re-branding Fortis branches in the Netherlands as ABN AMRO, expanding the total ABN AMRO branch network significantly. Santander also intends in an initial stage to keep the commercial structures of Santander and the ABN AMRO business Banco Real separate, with each operating under its own brand, at least whilst the operating areas are integrated. Q: What does the takeover mean for me as a client? A: In the coming months, ABN AMRO will continue to be run as a separate business with RFS Holdings, so for the time being, nothing will change. Different parts of the business will move to the new owners at different paces: as this process happens, you will be promptly informed of any changes you need to be aware of. Q: Am I still going to receive the same level of service? A: In the coming months, ABN AMRO will continue to be run as a separate business with RFS Holdings, so for the time being, nothing will change. The absolute intention is that our clients will receive even better levels of service in the future. Like ABN AMRO, RBS for instance has a relationship-driven model and focus on deepening customer relationships to deliver the bank's full range of products and services. Q: If I still have questions, whom should I contact? A: If you have any questions, do not hesitate to contact your account manager or the closest ABN AMRO branch. You can also send an e-mail via the contact form on www.abnamro.com.