ABN AMRO will be renamed as Royal Bank of Scotland and will be operated as RBS which has recently bought the Deutshe Bank for Euro 71 billion. ABN Amro is one of the leading foreign banks in India and has currently covers 30 to 40 percent revenue from India. Taking ABN AMRO’s strong presence in India, Royal Bank of Scoltand aims to become one of the India’s top foreign bank. ABN Amro bank’s country executive Meera H Sanyal has said that the transformation of ABN Amro to RBS will be achieved smoothly and there would not be any any radical change in strategy but, it will be based on the existing strengths combined with those of RBS’s verticals.
As a next step of transformation Sanyal said that the bank would continue to strongly focus on corporate finance, the mid-market or SME segment( In which they are very strong), financial institutions, the financial sponsors segment and consumer finance.
Elaborating on the bank’s plans in the SME segment, Sanyal said that it constituted a growing business in the future and “offered the bank an opportunity to partner with global companies of the future.”