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.
Entries Tagged 'Mergers' ↓
ABN AMRO to operate as Royal Bank of Scotland in India
December 19th, 2007 — Mergers, Bank News
Regional Rural banks to be merged
November 29th, 2007 — Mergers
Government has framed a plan to merge all 13 RRB’s with this merger the number of Regional Rural Banks will drop to 82 from the currenty 95 banks. Previously in the year 2005, the Goverment has brought down the number to the existing 95 from 196 by mergin 101 such banks
Lord Krishna Bank merges with Centurion Bank of Punjab
August 29th, 2007 — Mergers
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Lord Krishna Bank Ltd. with Centurion Bank of Punjab Ltd. The Scheme has been sanctioned in exercise of the powers contained in Sub-section (4) of Section 44A of the Banking Regulation Act, 1949. The Scheme will come into force with effect from August 29, 2007. All the branches of Lord Krishna Bank Ltd. will function as branches of Centurion Bank of Punjab Ltd. with effect from August 29, 2007.
State Bank of Saurashtra to merge with State Bank of India
August 29th, 2007 — Mergers
State Bank of India’s board gave it’s go ahead to the merger of State bank of Saurashtra (SBS) with itself subject to the approval of the Government and Reserve Bank of India in accordance with State Bank of India Act,1955.