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ABN Amro name changed to RBS

 Posted on 08 Sep 08

KARACHI: The State Bank of Pakistan has formally notified that the name of ABN Amro Bank (Pakistan) has been changed to Royal Bank of Scotland Limited with effect from August 1.

The SBP said it had issued the notification in exercise of powers conferred on the Bank by clause (c) of sub-section (2) of Section 37 of the SBP Act 1956.

RBS consortium comprising Dutch Bank of Fortis and Spains Santander took over control of ABN Amro for $98.5 billion in October 2007.

ABN has 4,500 branches across 53 countries and its businesses range from cash management operations in Asia to retail banking in Brazil.

RBS Asia Pacific Chief Executive John McCormick had told The News during an exclusive talk two months ago that the name of ABN Amro would be changed to Royal Bank of Scotland.

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