ABN AMRO

ABN AMRO got a fresh start with the Dutch government. In 2010 the bank, one of the largest in the Netherlands, separated from Royal Bank of Scotland and was transferred to a new holding company, ABN AMRO Group, which is wholly owned by the government. The new ABN AMRO Bank serves commercial, consumer, and private clients in the Netherlands, and nearly 30 other countries. In 2010, the Dutch banking operations of state-owned insurer ageas (formerly Fortis) were merged with ABN AMRO Bank. ABN AMRO announced plans to cut up to 5,000 jobs in the Netherlands in relation to the merger. The cuts represent about 17% of the combined workforce of the banks.