The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Dutch banking major ABN Amro said on Friday that it was looking at all possible options including acquiring a private bank and setting up a subsidiary to increase its presence in India.
Meera Sanyal, Country Executive, ABN Amro Bank, revealed the bank's merger plans with Royal Bank of Scotland. Dutch Central Bank has approved of the merger and a country-by-country approval is being sought. As part of the deal, RBS will acquire the banking business in India and Fortis will buy the asset management company. Neither have a presence in India. ABN Amro is negotiating with RBI too on this issue. The bank will continue to operate through 28 branches in 21 cities.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
Romesh Sobti, ABN country head for India, will move to IndusInd Bank, a domestic private-sector institution controlled by the Hinduja family.
ABN Amro has initiated the process of re-branding its retail branches as RBS after receiving the Reserve Bank of India's (RBI's) approval for the same.
ABN Amro Bank is aiming at 50% growth in consumer banking, and plans to enter the housing segment shortly.
Wages as percentage of the total expenses for the ABN Amro Bank, which is in the process of selling its retail and commercial banking operations in the country, shot up from 19.91 to 25.61 per cent during the year, reveals an RBI analysis of the banking sector in the country.
The bank, which on Friday posted first-quarter results hit by bad loans in its home market, said the cuts are part of a reorganisation of its commercial and merchant banking division and will mostly be through natural attrition and reallocation.
ABN Amro Bank on Monday announced its foray into the housing loan segment with the lowest interest rate of 6.0 per cent in the first year and 6.5 per cent in second year under its 'Super Saver Loan Package.'
India's anti-monopoly watchdog has launched a judicial probe against ABN-Amro Bank after a preliminary investigation found the lender engaging in deceptive practices in its credit cards business.
The Netherlands-based ABN Amro Bank NV has identified India as one of the six key markets for its working capital services.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
ABN Amro Bank on Tuesday said it does not see any imminent upward pressure on interest rates because of stable inflation rate and enough liquidity in the market.
ABN Amro Bank has kept options open for acquisitions and plans to start mutual fund operations by this fiscal, its executive vice president Romesh Sobti said in New Delhi on Monday.
The new members, Jitesh Gadhia, Marc Holtzman, Simon Hargreaves, Jason Rynbeck and Frank Hancock, would report to Barclays European Investment Banking and Debt Capital Markets' head John Winter, Barclays said in Mumbai on Tuesday. "The appointments will significantly enhance our ability to advise our clients on corporate strategy, divestitures and acquisitions with particular focus on clients in high growth markets in Asia, Central and Eastern Europe and West Asia."
ABN Amro Bank has launched a new fixed income investment plan for Non-Resident Indians offering them attractive fixed investment opportunities in the face of maturing Resurgent India Bonds.
In the world's biggest-ever financial services takeover, the United Kingdom's third largest bank Barclays will buy out Dutch rival ABN Amro Holding for $91 billion (Euro 67 billion), creating the world's fifth largest bank.
Citigroup is all set to acquire direct custody, securities clearing and fund services business of ABN AMRO in select European and Asian markets, including India, for an undisclosed sum.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances