abn ambro bank final 19-09-2007

8/2/2019 Abn Ambro Bank Final 19-09-2007

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A SUMMER TRAINING REPORT

IN

INALSA LTD.

ON

THE CONSUMER BANKING OF ABN-AMRO BANK,

INDIA AND AN ANALYTICAL REVIEW OF ITS PAST,

PRESENT AND FUTURE TRENDS

SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENT OF

BACHELOR OF BUSINESS ADMINISTRATION (B.B.A) GURU

JAMBHESHWAR UNIVERSITY, HISAR

TRAINING SUPERVISOR SUBMITTED BY:MAHESH KUMAR

(SALES MANAGER) ENROLLMENT NO.:

JAGANNATH INSTITUTE OF MANAGEMENT SCIENCES

ROHINI DELHI-110085

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ACKNOWLEDGEMENT

A good project work requires sound knowledge of the subject

concerned and skilled to make proper use of this knowledge. I am

very grateful to all who equipped us with the right mindset to make

us still more receptive to such knowledge and skill.

I am also sincerely thankful to Mr. Mahesh Kumar for imparting us

wisdom and injecting marketing instincts in us.

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TABLE OF CONTEST

Project Title

Company Certificate

Acknowledgement

Executive Summary

Introduction

About the industry

Range of product and services

RULES AND REGULATIONSSWOT analysis (Company)

Research methodology

Research Objectives

Data sources

Primary Data

Secondary data

Questionnaire design / formation

Sample Design

Sample element / unit

Extent

Time Frame

Sampling Frame

Limitations of research

Company profile

Data analysis and interpretation

Conclusions and findings

Recommendations

Annexure

Bibliography

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EXECUTIVE SUMMARY

Company Name: ABN-AMBRO BANK, INDIA

Project Location: Greater Kailash-1 (Delhi)

A study of the consumer banking of ABN-AMRO Bank, India and an analytical review

of its past, present and future trends

ABN-Amro is the world's leading emerging markets bank. it employs 32,000 people in

over 500 offices in more than 56 countries in the asia pacific region, south Asia, the

middle east, Africa, united kingdom and the America .

The bank is into serving both consumer and wholesale banking customers. the consumer

bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth

management services to individuals and medium sized businesses. The wholesale bank

provides services to multinational, regional and domestic corporate and institutional

clients in trade finance, cash management,

Custody, lending, foreign exchange, and interest rate management and debt capital

markets.

Foreign banks in India are subject to the same regulations as scheduled banks. They are

permitted to accept deposits and provide credit in accordance with the banking laws and

RBI regulations. Currently about 25 foreign banks are licensed to operate in India.

Foreign bank branches in India finance trade through their global networks. The

expertise of ABN-Ambro Bank with over 150 years' experience, global network of 500

offices in 56 countries making it one of the leading providers of treasury financial

services.

As the largest independent distributor of third party funds, ABN-Ambro Bank gives

investors choice, unbiased evaluation of funds and a portfolio management account that

matches your risk profile and investment goals.

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With years of banking experience, ABN-Ambro Bank is undoubtedly in a strong

position to help growing businesses sail through the complexities they may face. ABN-

Ambro Bank recognizes its

Responsibilities lies to its staff and to the communities in which it operates.

Apart from the above detailing, my project involved informal discussion with some of

the executives in the field for improving the aggressive promotions which were found to

be poor during the study. Also I was associated with certain marketing tasks to locate

some strategic areas in the region concerned where new bank branches and Atm could

be put up.

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INTRODUCTION

ABOUT THE INDUSTRY

The Reserve Bank of India (RBI) is India's central bank. Though public sector banks

currently dominate the banking industry, numerous private and foreign banks exist.

India's government-owned banks dominate the market. Their performance has been

mixed, with a few being consistently profitable. Several public sector banks are being

restructured, and in some the government either already has or will reduce its

ownership.

PRIVATE AND FOREIGN BANKS

The RBI has granted operating approval to a few privately owned domestic banks; of

these many commenced banking business. Foreign banks operate more than 150

branches in India. The entry of foreign banks is based on reciprocity, economic and

political bilateral relations. An inter-departmental committee approves applications for

entry and expansion.

CAPITAL ADEQUACY NORM

Foreign banks were required to achieve an 8 percent capital adequacy norm by March

1993, while Indian banks with overseas branches had until March 1995 to meet that

target. All other banks had to do so by March 1996. The banking sector is to be used as

a model for opening up of India's insurance sector to private domestic and foreign

participants, while keeping the national insurance companies in operation.

BANKING

India has an extensive banking network, in both urban and rural areas. All large Indian

banks are nationalized, and all Indian financial institutions are in the public sector.

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RBI BANKING

The Reserve Bank of India is the central banking institution. It is the sole authority for

issuing bank notes and the supervisory body for banking operations in India. It

supervises and administers exchange control and banking regulations, and administers

the government's monetary policy. It is also responsible for granting licenses for new

bank branches. 25 foreign banks operate in India with full banking Licenses. Several

licenses for private banks have been approved. Despite fairly broad banking coverage

nationwide, the financial system remains inaccessible to the poorest people in India.

INDIAN BANKING SYSTEM

The banking system has three tiers. These are the scheduled commercial banks; the

regional rural banks, which operate in rural areas, not covered by the scheduled banks;

and the cooperative and special purpose rural banks.

SCHEDULED AND NON SCHEDULED BANKS

There are approximately 80 scheduled commercial banks, Indian and foreign; almost

200 regional rural banks; more than 350 central cooperative banks, 20 land development

banks; and a number of primary agricultural credit societies. In terms of business, the

public sector banks, namely the State Bank of India and the nationalized banks,

dominate the banking sector.

RANGE OF PRODUCT AND SERVICES

Personal Finance

Credit Cards

Priority Banking

Investment Advisory Services

Personal Investments

Insurance

Deposits and Retail Services

Retail FX Products

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Services

Services was established to create cost savings through consolidation and

standardisation. It focuses on further exploiting new market solutions for support

services with the aim to achieve better products and services for our clients at lower

costs.

RULES AND REGULATIONS

Not only this, the bank provides the widest range of foreign currencies for your

investment needs plus other products such as housing loan, insurance and unit trusts.

ABN-AMRO Bank provides well-developed remote channels for your banking

convenience through our 24-hour phone banking and Internet banking.

Not only this when made comparison with almost all the leading banks of India, ABN-

AMRO Bank not only stands high among all but is giving them a fierce competition.

Foreign banks in India are subject to the same regulations as scheduled banks. They are

permitted to accept deposits and provide credit in accordance with the banking laws and

RBI regulations. Currently about 25 foreign banks are licensed to operate in India.

Foreign bank branches in India finance trade through their global networks.

SWOT ANALYSIS (ABN-AMRO BANK)

Strenghts

Market position is strong

Aggressive foreign bank

Shareholders return has grown more than 7 times

Maintains a position as a leading Asian Cash Management provider

Brand - SCBs modern and dynamic look appeals to the growing middle income

earners

One of the most profitable MNC in India

Improved product proposition

Better geographic balances

Multi-cultural organization that offers opportunities to good managers

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Weakness

HDFC, ICICI, ABN-Ambro Bank , Citibank and HSBC are dominant players

Has disadvantage due to last entry

Fewer locations as compared to other MNC banks

Service delivery perception is weak

Opportunities

Branch expansion for rapid growth

Increase focus on value creation in whole banking

Improve shareholders return

Build market share in consumer banking as consumer banking continues to offer

highest potential for growth

Broadening of the demographic base

Tie ups with master card networks

Integrated sales and service approach

Can offer a complete corporate package into under proposed corporate

relationship

Threats

IDBI is pitching in quite aggressively

Citibank is expanding in new markets

Competitive products and offers from ICICI and HDFC

Proposed networking of all branches in next 6 months

Reduced business in OECD busing

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RESEARCH METHODOLOGY

RESEARCH OBJECTIVE DESIGNRESEARCH OBJECTIVE DESIGN

1. To study the brief history of the Bank.

2. To formulate a comprehensive SWOT Analysis.

3. Study on the services being offered in tune to the Consumer Banking

approach.

4. A study on the present standing of Banks Accounts in the industry.

5. Comparative study of the saving accounts with other leading MNC Banks of

India.

DATA SOURCES

Services and facilities offered by ABN-Ambro Bank , India, in tune with the changed

business scenario (aggressive sales and promotions) of the banking sector is not

adequate and effective.

The research methodology deals with the following questions:

1. SAMPLE DESIGN /SAMPLE ELEMENT / UNIT

The survey was done using Non-Probability Convenience Sampling. The sample

size was fixed to eight offered services with 39 full-time operative Bank branches.

2. QUESTIONNAIRE DESIGN / FORMATION

The following thoughts were kept in mind while acquiring data like

Clear research objective which describes the kind of information needed, the

hypothesis and the scope of the research.

SAMPLING FRAME

Descriptive, experience-based research, which provided an accurate snapshot

of some aspect of market environment such as the services offered by ABN-

Ambro Bank in keeping up with the changed banking scenario in DELHI-

NCR. A pilot testing of the plot was done along with the Company sales

team before going in to the actual field.

PRIMARY SOURCE

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Primary data is that kind of data which is collected by the investigator himself for the

purpose of the specific study. The data such collected is original in character. It has

been used in form of questionnaire and observation which are the two basic methods ofcollecting primary data and which suffices all research objectives.

SECONDARY SOURCES

When an investigator uses the data that has been already collected by others is called

secondary data. The secondary data could be collected from Journals, Reports and

Various Publications. The advantages of secondary data can be economical, both in the

term of money and time spent.It includes data already provided by sources like company

monthly fact sheet, newspapers, websites. These includes data which have already gone

through stastical processes.

NEED OF RESEARCH

The purpose of research is to discover answers to questions through the application of

scientific procedures. This research study was done to know about the perception of

customers regarding ABN AMRO . The needs of the study arise because other banks

such as sbi,hsbc is the main rival brand of ABN AMRO Bank and the Bank wants to

know about the perception of the rival brand among the customers.

Extent

The research is concentrated in DELHI-NCR,. All the branches in the targeted area

were contacted to be a part of the study.

Time Frame

it took around 2 months for preparing this project.

LIMITATIONS OF THE STUDY

In spite of all the care and effort has some basic limitations, which cannot be avoided,

and the constraints under which the researcher has to work caused these limitations. The

present study may have the following limitations.

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1. The study is unable to escape the usual limitation due to constraints of Time,

Money, and Other sources, Where as a wider geographical coverage would have

made the study more representative.2. Some of the sampling and non- sampling errors may have crept into the study.

3. Every effort was made to extract the correct information from the respondents, but

the ignorance on their part could have played its role.

4. The study was limited to 45 respondents only.

5. The accuracy of result was limited to the reliability of method of investigation,

sampling techniques and analysis of data.

6. Despite the best efforts to include all-important variables, the chance of somevariables not appearing in the study could not be ruled out.

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COMPANY PROFILE

ABN-AMBRO BANK

HISTORY

Standard Federal Bank NA, 1893-present

Early years, 1893-1929

Standard Savings & Loan Association in Detroit was established on 25 April 1893,

taking over the charter of the Workman's Savings and Loan Association. Offices opened

in the basement of the old McGraw Building at the corner of Griswold and Lafayette in

downtown Detroit. Standard moved to a larger building at the corner of Griswold and

Larned Streets in 1914. Land was purchased in 1927 and Standard then constructed its

own headquarters at the north-west corner of Griswold and Jefferson in 1927. This lot

was known as "the Cornerstone of Detroit", as it was the site of the first building ever

raised in Detroit: Ste. Anne's Church, built in 1701. In that year assets surpassed USD

10 million.

Conversions and expansion, 1970-1987

In 1970, Birmingham Federal Savings (Michigan) merged with Standard Federal. Main

offices were moved to Birmingham on Woodward Avenue near 16 Mile Road. Total

assets in 1973 reached USD 1 billion. Also in 1973 Main offices were moved to a larger

building in Troy at 2401 Big Beaver Road.

Wayne Federal Savings (Michigan) was acquired in 1975 and in 1980 First Federal

Savings of Niles (Michigan) merged with Standard Federal. In 1981 Landmark Savings

and Loan (Saginaw/Bay City, Michigan) and First Savings Association of Dowagiac

(Michigan) were taken over.

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In the largest merger in Standard Federal's history: American Federal Savings of Fort

Wayne, First Federal Savings of Fort Wayne, Fort Wayne Federal Savings, and South

Bend Federal Savings and Loan Association (all of Indiana) were taken over inNovember 1983. Assets reached USD 5 billion in 1984.

On 1 January 1985, the bank converted from a federally chartered mutual savings and

loan association to a federally chartered mutual savings bank and changed its name from

Standard Federal Savings and Loan Association to Standard Federal Bank. On 28

August 1986, the bank's Board of Directors adopted a Plan of Conversion providing for

the bank's conversion from a mutual to a stock institution. As of 31 December 1986,

Standard Federal had 83 offices in 16 counties in Michigan and Indiana; 78 of whichwere full-service branches. The conversion from a mutual company to a publicly owned

stock company listed on the New York Stock Exchange took place on 28 January 1987.

This was one of the largest stock conversions by dollar amount in the history of the

thrift industry.

Further acquisitions and a new parent company, 1988-1996

The acquisition of Tower Federal Savings Bank of South Bend (Indiana) was completed

on 18 June 1988. During 1989, the bank acquired two savings institutions in Michigan:

First Federal Savings

and Loan Association of Kalamazoo (originally known as the Kalamazoo County

Building Loan Association) and Peoples Savings Bank, F.S.B. in Monroe. On 6

September 1991, Standard Federal entered the Ohio market, gaining a significant

presence in the north-west Ohio area through the acquisition of United Home Federal

Savings and Loan Association of Toledo. First Federal Savings and Loan Association of

Lenawee County, Adrian (Michigan) was acquired with effect of 8 August 1992.

On 25 April 1993, Standard Federal celebrated its centenary. The bank stands as the

largest thrift institution in the Midwest and the 7th largest in the United States, with

assets of approximately USD 10 billion. In December of the same year, Standard

acquired Heritage Federal Savings Bank in Taylor (Michigan). This was the largest

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single acquisition in Standard Federal's history. Other acquisitions by Standard Federal

include Inter First Bankcorp (1993), Colonial Central Savings Bank (1994) and Fidelity

Savings Bank (1996). Effective 1 May 1995, Standard Federal Bank became a

wholly owned subsidiary of Standard Federal Bancorporation, Inc., a unitary thrift

holding company.

On 21 November 1996, ABN AMRO reached an agreement to take over Standard

Federal Bancorporation Inc. The total price of USD 1.9 billion makes it the largest

acquisition ever made by ABN AMRO. The acquisition was completed on 1 May 1997.

In 1996, Standard Federal was the largest savings bank in the Midwest of the US, and

the fourth largest bank in the State of Michigan. At 31 December 1996, Standard

Federal's total assets amounted to USD 15.7 billion, with total deposits of USD 11.0

billion, loans serviced for others of USD 10.5 billion and stockholders' equity of USD

956.8 million.

PROFILE

ABN AMRO is an international bank with European roots. We have a clear focus on

consumer and commercial clients in our local markets and focus globally on select

multinational corporations and financial institutions, as well as private clients. Our

business mix gives us a competitive edge in our chosen markets and client segments.

Our strategy is built on leveraging our advantages as a Group to create the best value for

and with our clients.

We are active in four principal customer segments: Personal Banking, Private Banking,

Business and Commercial and Corporate and Institutional.

Although we serve a broad range of clients, our strategic focus is on the mid-marketsegment. This is the client area where we have a strong and distinctive competitive

advantage and where we feel we can be most profitable in the future.

The ABN AMRO Corporate Values and Business Principles provide the framework

within which we carry out our operations.

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In brief...

ABN AMRO is a prominent international bank, our history going back to 1824. ABN

AMRO ranks eighth in Europe and 13th in the world based on total assets, with more

than 4,500 branches in 53 countries, a staff of more than 105,000 full-time equivalents

and total assets of EUR 987 billion (as at 31 December 2006).

Organization

We implement our strategy through a number of Business Units (BUs). These units are

responsible for managing a distinct region, client segment or product segment, while

also sharing expertise and operational excellence across the Group.

We have five regional Client BUs: the Netherlands, Europe, North America, Latin

America and Asia. These BUs serve about 20 million consumer clients and small to

larger businesses worldwide. ABN AMRO is among the world's leading players in these

businesses.

We have two global Client BUs to serve clients with global needs. The BU Private

Clients provides private banking services to wealthy individuals and families and has

EUR 142 billion in Assets under Administration (as at 31 December 2006). The BU

Global Clients serves our 550 multinational clients.

We have three Product BUs: Global Markets, Asset Management and Transaction

Banking.

Global Markets develops products for our commercial clients across the globe.

Transaction Banking is our product organization covering all payments and trade in the

bank for our retail, private client, and commercial markets.

Asset Management, which is one of the world's leading asset managers, operates from

over 20 locations worldwide and manages EUR 193 billion worth (as at 31 December

2006) of assets for private investors and institutional clients.

Services

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Services was established to create cost savings through consolidation and

standardisation. It focuses on further exploiting new market solutions for support

services with the aim to achieve better products and services for our clients at lowercosts.

Group Functions

Group Functions collaborates with the BUs in maximising client and shareholder value.

Its basic functions are governance (facilitating the implementation of Managing Board

policy throughout the bank), standard and policy setting (setting the parameters that the

BUs work within), and sharing expertise across the company.

Segments

To provide all our clients with even better products and services, we also have a cross-

BU Consumer Client Segment and a cross-BU Commercial Client Segment. These

segments focus on aligning the Client BUs with the Product BUs, sharing best practices

and exchanging winning formulas across the Group in order to deliver high-quality

solutions to our client bases across the world.

ABN-Ambro Bank sets up a 100 per cent Subsidiary

Our Banking Bureau11 March 2007 Mumbai: ABN-Ambro Bank has set up ABN-

Ambro Bank Investments and Loans (India) Ltd (SCILL), an NBFC, which will be

ABN-Ambro Bank 100 per cent subsidiary.

"We have set up the NBFC since that will increase our liquidity, we plan to raise

commercial papers, non-convertible debentures and inter-corporate deposits in the local

debt market," said , CEO, India Region, ABN-Ambro Bank , at a press conference held

here. The foreign bank has chosen this route to access the domestic capital markets.

SCILL will start with an equity capital of $7.5 million, which will be scaled up to $50

million over 18 months. The company hopes to build up a Rs 1,100-crore balance sheet

in a year's time by disbursing funds to top corporate in India.

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The NBFC's corporate clientele would be similar to that of the bank's client list, said Mr.

M.A. Ravikumar, Regional Head, Global Markets, ABN-Ambro Bank .

ABN-Ambro Bank Mumbai Marathon 2006 2005 ABN-Ambro Bank , India

Business Standard, Mumbai, January 25, 2005 The ABN-Ambro Bank Mumbai

International Marathon 2005 was arguably one of the biggest sporting event in the city

of Mumbai in recent times. The mood was upbeat, the adrenaline pumping, and the

national flag was held high as Mumbai and India wore its heart on its sleeve. Celebrities

and corporate head honchos in 1000s ran and raised money for a cause they supported.

Over Rs.1 crore was raised through the event for various charities.

Give India is the first "philanthropy exchange" in India. Managed by the nonprofit

GIVE Foundation, Give India doesn't seek donations for itself, but helps you make your

donations more efficiently and effectively, to a cause you choose. Give India is the

Official Charity Partner to the ABN-Ambro Bank Mumbai Marathon 2005 (SCMM

2005).

As a tribute to the spirit of Mumbai, charity will be at the heart of this year's event.

Special packages have been designed to encourage people to raise pledges for a cause of

their choice. A slew of support activities are planned and materials created to help

anyone who would like to make a difference, reach out and do so. Over 100 charities

will participate, and we hope to raise several cores of rupees for them.

Why Run for a Cause

Because it is a great way to show that you care;

Because running for a cause and raising pledges can be great fun, and can be much

easier than you think - ask any of the people who did so last year;

Because the 35,000 people who run the London Marathon raise 35 million or

over Rs.250 corers every year for their charities. As do runners at the New York,

Boston and Singapore marathons.

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Because you choose the cause or charity you would like to run for, a charity that

you trust to use the pledges you raise in a transparent, accountable and effective way

to make a difference to the lives of the underprivileged.

There are 3 ways for an applicant to raise pledges -

The Dream Team

The Corporate Challenge

The Pledges' United

ABN-Ambro Bank Fund Mgmt. joins the game

Indian Express, Wednesday December 15, 2004 3:26 AM

By Monika Hal an

ABN-Ambro Bank AMCs draft offer document for its new closed end debt fund is now

on the Sebi website. Called Grind lays Relief Bond Fund, the offer from ABN-Ambro

Bank Mutual Fund, is the second fund offering to call its debt fund a Relief Bond

Fund.

As reported earlier by this newspaper, HDFC AMC has already used the term Relief

Bond Fund for its debt fund offering without offering any substantial reason for using

the word relief in the scheme name.

It is feared that the words Relief Bond will confuse the small investor who may

associate the mutual fund with the RBI paper that is no longer in the market, but whose

brand name is still popular.

The CEO of ABN-Ambro Bank AMC Naval Bir Kumar did not respond to calls to his

office on this issue, but others in the industry are concerned about confusing

nomenclature of scheme names.

Says A.P. Kurten, Chairman of the Association of Mutual Funds in India (AMFI), the

industry association: There should be truth in labeling of fund schemes. We need to

examine what relief the fund houses are offering. Amfi will take an official view on

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this in a couple of days. RBI had good reason to call its bonds relief bonds, since they

offered tax relief. There seems to be no reason given in the ABN-Ambro Bank offer

document that offers a clue as to what the relief in the scheme will be.

The investment objective of the Grind lays scheme is growth of capital by investing in

a portfolio of fixed income securities normally in line with the duration of the scheme.

The asset allocation is debt and money market instruments (100 per cent). The risk

profile: Low to medium.

So, the scheme is not limited to buying government or institutional paper or offering

low-risk, tax-free returns. The aim is growth that comes with low to medium risk. The

RBI paper was associated with zero risk and tax breaks. However, things may look up

for the retail investor because sources in SEBI say some change can be expected in the

name of these funds.

COLLECTING THE DATA

Data collection has been done from both sources primary as well as secondary.

Primary data: It has been collected by meeting various managers of the ABN-

AMRO Bank, Citibank, ABN-Ambro Bank , ICICI, HDFC, HSBC, GTB, UTI andIDBI.

Secondary data: From newspaper, magazines, Libraries.

The data was collected by getting the respondents to interact on a one to one basis,

as it facilitated explaining to them questions in which they had doubt.

Financial Cards Company Profile Abn Amro

Euro monitors ABN AMRO company profile offers detailed strategic analysis of the

companys business, examining its performance in the financial cards market. The

report examines company shares by region and sector, brand portfolio and new product

developments, market and distribution strategies, challenges from the competition and

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future prospects. Use this company profile to understand opportunities and threats

facing the business and the factors driving success.

With network of over 600 analysts worldwide, We have a unique capability to develop

reliable information resources to help drive informed strategic planning.

Services Provided By ABN-Amro Bank

Through the network of over 500 offices in more than 50 countries, ABN-Ambro Bank

offers personal financial solutions relevant to you as an individual. ABN-Ambro Bank

treasure building a relationship with the customer, developing an understanding of

customers changing financial needs at different stages of your life. Their long heritage

of nearly years has enabled them to change with time, offering quality products by

means that are convenient to customer.

ABN-AMRO Bank offer includes:

Personal Finance

Credit Cards

Priority Banking

Investment Advisory Services

Personal Investments

Insurance

Deposits and Retail Services

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1. PERSONAL FINANCE

Mortgages

In many of the markets where ABN-Ambro Bank operate, especially in key markets of

Hong Kong, Singapore, Malaysia, they are reported to be the market leader for

mortgages. Their experienced and dedicated teams will guide the individual in every

single step to enable him a smooth and hassle-free experience, offering him rates and

repayment packages most suitable. Start by trying our "instant approval service.

Unique Features:

Low interest rates, option of flat or reducing interest rates

Low EMI (equated monthly installments)

No hidden costs like processing charge. Everything is done up front.

Quick approval and realization.

Tax benefits.

No unfair collateral demands.

A simple mortgage process.

Personal Loans

ABN-AMRO Bank helps the customer to be in control of his/her own finances. Personal

Loans, without any guarantees or collaterals, are available to customer to meet specific

credit needs. Choose Installment Loan or Revolving Loan, whatever suits best. Whether

planning a vacation, re-decorating home, paying for child's college education, or simplywish to have a standby line of credit for unforeseen expenses, ABN-AMRO Bank's

Personal Loans can help fulfill the dreams.

Personal loan is specially designed to get the money need in time, without having to

answer unnecessary questions, and without any collateral or mortgages.

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Unique Features:

Choose the repayment plan most convenient, ranging from a compact 12-month

period to a comfortable 36-month span.

Free to use the money for renovating house or meeting some unexpected

expenses etc.

No collateral or security.

Quick and easy processing.

Credit line ( Cash on your terms)

Is the perfect loan over draft facility.

Features-

1) 24*7 access to loan

2) Slab rate of interest

3) No fixed Emis

In the facility being offered one can borrow from whenever and pay back at there

convenience. The bank can give credit line from Rs 25000 to maximum of Rs 250000

depending upon the banks qualifying criteria. One gets an ABN AMRO BANK

multicast cherub book and a free international Debit Card. One can take out money from

our own savings account , whenever and wherever you want to 24 hrs a day and 365

days in a year.

One can pay back as they like, i.e. no EMIs with the credit line account. One is

required to pay only 5% of there outstanding and the rest as you like and no repayment

penalties. Now you can link your credit line account to your ABN AMRO BANK

savings account

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2. CREDIT CARDS

ABN-AMRO Bank Visa and MasterCard credit cards

ABN-Ambro Bank credit cards provide financial flexibility, worldwide acceptance, and

round-the-clock convenience.

Benefits:

Welcomed at the largest number of merchant outlets across the world.

Revolving credit facility, allowing repaying card outstanding over time,

at a convenience.

Cash withdrawal in local currency at Visa and MasterCard linked ATMs

across the world.

Platinum, Gold or Classic cards to suit lifestyle and needs.

Smart credit cards with special privileges and security.

Attractive rewards programs.

Affinity and co branded credit cards that give additional benefits from

our partners.

World-class service assistance and 24-hour customer help line.

3.PRIORITY BANKING

Experience new standards in banking. And lead a life of privilege and preferred

financial solutions tailored perfectly for you - with Priority Banking from ABN-Ambro

Bank .

Designed specially for those who appreciate only the finest things in life, Priority

Banking offers the very highest levels of personalized banking to match unique status.

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By embracing a holistic approach to financial well being and commitment to personal

Wealth Management with a full range of innovative products and services, a customer

will find banking with a reassuring and secure experience.

Bank is committed to helping a plan, build and protect wealth by offering individual

attention as well as international banking and investment opportunities to meet current

and future needs.

ABN-AMRO Bank Priority Banking is created specifically for a chosen few individuals,

who will settle for nothing but the best and demand the highest standards of service in

all your banking relationships.

Unique Features:

Personalized Priority card will give instant recognition of priority status at all

branches of ABN-Ambro Bank, worldwide.

A dedicated Customer Relationship Manager trained to understand specific

financial needs and help to manage assets at home and abroad. It is as

personalized as can be.

Preferential pricing on our various products.

Entitled to exclusive benefits.

A complimentary pre-approved Gold Standard Credit Card .

Commission free VISA traveler's cherubs.

Special foreign exchange rates.

Special invitations to exclusive events.

Many account facilities, which are absolutely free of charge.

Priority Banking. It's like owning the bank.

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4. INVESTMENT ADVISORY SERVICES

The ABN-Ambro Bank Investment Advisory Services is comprehensive process that

assists in planning for future. With this service, they can help to review financial goals,

conduct a financial health check, evaluate risk profile and customize an asset allocation

plan to realize financial aspirations.

5. PERSONAL INVESTMENTS

ABN-AMRO Bank is the leading independent distributor of unit trusts and mutual funds

in Asia. Because they don't actually manage their own investment funds, they are

absolutely objective in fund evaluation process. Bringing unmatched skill, expertise and

know how to seek the best performing investments around the world, it can be assured

of different investment options and a wealth of informative and relevant updates.

With trained Investment Services Consultants from countries around the globe, they can

help to make the right investment decisions. Using a unique risk evaluation to gauge the

level of risk customer can be comfortable with, coupled with a proprietary fund

evaluation process to identify funds, assess risks and shortlist top-performing funds;

customer can be ensured of a personalized investment portfolio catered to needs.

ABN-AMRO Bank Investment services puts a whole new world of possibilities within

the reach of people who would like to achieve their financial goals but have many other

demands on their time.

Unique Features:

A one-stop shop offering a wide range of investment options to grow your

wealth.

Available across 8 cities.

Trained investment services counselors.

Sophisticated research franchise.

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Impartial and unbiased analysis on options best suited.

Tailor made investment plans suited to risk taking ability.

6. INSURANCE

ABN-Ambro Bank recognizes the things important to customer and his family. They are

dedicated to protecting the customer, his

family, and his hard earned assets and even his future earnings giving him the assurance

he needs.

Their strategic alliance with Prudential and CGU Insurance puts us in a very strong

position to provide for Life and General Insurance needs. With a comprehensive range

of products, ABN-Ambro Bank is set to protect the World.

7.DEPOSITS AND RETAIL SEVICES

Deposits

ABN-AMRO Bank offers a wide array of deposit products in both local and foreign

currencies to help to earn competitive interest rates. Their international network offers

an extra convenience while abroad. In some countries, they offer premium interest

savings plans like Higher Education Fund to turn the dreams into reality.

Retail Services

ABN-AMRO Bank offers a comprehensive range of retail services in many countries.

These include:

Automated banking services.

Demand drafts.

Foreign exchange services.

Local and foreign currency cherubs.

Safe deposit boxes.

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Telegraphic transfers.

Travelers cherubs.

ADDITIONAL SERVICES

INTERNET BANKING

Youre banking needs now taken care of at the click of a mouse. With Secure Internet

Banking ID and Password, a customer can login and take care of his/her banking and

credit card needs at his/her convenience and time. No more queues, no more waiting.

2.PHONE BANKING

As part of commitment to meeting all needs, ABN-Ambro Bank offer Phone Banking -

a service that enables you to access a wealth of financial information, 24 hours a day, 7

days a week.

Through Phone Banking:

Check your account balance.

Get details about specific transactions.

Inquire about the status of a particular cheque.

Order demand drafts.

Transfer funds amongst your linked accounts.

Get information on deposit rates, lending rates, exchange rates and bank

charges.

Access information on any of our products and services.

Call Room Service to open your account.

Make complaints and suggestions.

3. MOBILE AND E-MAIL ALERTS

ABN-Ambro Bank always try and make life simple. Mobile and E-mail Alerts' service

is designed just for that.

4. SMARTFILL DEBIT CARD

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Smart fill Debit Card, launched in association with Bharat Petroleum, will help to save

on fuel purchases and even gets you free fuel.

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Unique Features:

Earn reward points every time you use the card to make purchases

ANYWHERE, which you can then redeem for fuel at select Bharat Petroleum

outlets.

When the card is use to make purchases at select Bharat Petroleum outlets, the

customer don't have to pay the 2.5% surcharge levied on most credit or debit

cards.

Smart fill Debit Card is globally valid. It gives access to 12 million merchant

establishments worldwide and over 55,000 in India.

A customer can access over 3500 ATMs in India for FREE* and over 750,000

ATMs worldwide through the Visa ATM network.

The card gets an exclusive discount of 5% at select In & Out stores at Bharat

Petroleum outlets, besides benefits at leading retail outlets and restaurant.

5. ATM

ABN-AMRO Bank ATMs give the freedom to conduct most of the banking transactions

24 hours a day, 365 days a year. The ATM card is and absolutely free. There are no

transaction charges on the use of card. What's more, use ATM card at any of the 50

ATM centersacross the country.

6 CREDIT CARD HELP-LINE

As part of commitment to meeting all needs, ABN-Ambro Bank offer the facility of

calling them over the phone to access a wealth of information on credit cards, 24 hours a

day, 7 days a week.

7. ELECTRONIC CLEARING SYSTEM

ABN-Ambro Bank introduces ECS (Electronic Clearing System), an innovative facility

for busy people. With this facility, Card bill amount automatically gets debited from

your savings bank account, so that customer doesnt have to worry about the last minute

payment rush. Since this entire process happens through the Reserve Bank of

India's electronic clearing mechanism, customer can enjoy the advantages of ECS.

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8. FAX BANKING

Its the most efficient way to stay on top of the business finance. Every day, ABN-

Ambro Bank fax a report of all transactions made the previous day. Customer will still

receive his/her regular monthly statements.

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MAINTANING ACCOUNTS WITH ABN-AMRO BANK

DEPOSITS

Demand deposits Time deposits

Saving account Current account Fixed deposits

Individual Twin-one account Parivaar account

SAVING ACCOUNT

DEMAND DEPOSITS

1. SAVING ACCOUNT

ABN-Ambro Bank introduces Flex Plus - a revolutionary savings account that provides

with unparalleled Flex Plus to money. An account primarily opened for and operated by

individuals, wherein the numbers of transactions are few and which give the customer

liquidity, with the facility to earn some interest on the residual balances.

With the Flex Plus account the customer can now access cash at over 1800 ATMs in

India to free and at over 650,000 ATMs worldwide through the Visa network. Besides,

he can use his account to shop for goods and services at over 25,000 outlets in India and

at 10 million outlets worldwide, without ever having to carry cash!

The Flex Plus account provides with a globally valid debit card that provides these and a

host of other exciting benefits.

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Unique Features:

There are several unique features about the ABN-Ambro Bank's Flex Plus account, each

designed to provide the most convenient banking experience could ever get!

Free access to cash at over 1800 ATMs in 35 cities in India

Globally valid debit card

The debit can be used to make purchases at over 25,000 merchant outlets in India

and at over 10 million outlets worldwide.

Phone banking, Internet banking, Multi-city banking, 365 days branches, extended

banking hours, lockers facility and doorstep banking.

Unique free insurance benefits - lost card insurance, purchase protection and

personal accident cover.

Exciting usage benefits such as Travel Cash Back - discounts on airfare, Rasoi -

ongoing privileges in restaurants, Fab Deals - special privileges for shopping at

select merchant outlets, discounts at all BPCL IN & Out stores and special rates on

BPL electronic items plus a host of other discounts vouchers.

2-IN-1 ACCOUNT

The best of both worlds:

A unique account that offers you double advantage, letting you earn the High

interest rate of a fixed deposit while you enjoy the flexibility of a savings & current

account.

PARIVAAR ACCOUNT

One-stop solution for your entire family's banking needs:

A unique Wealth Management Solution that offers the family flexibility and tools for

wealth accumulation and preservation.

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2. CURRENT ACCOUNT

An account opened and operated primarily by corporate for commercial use, wherein

the numbers of transactions are much higher than a normal savings account. No interest

is paid on these accounts.

Unique Features:

High Liquidity

Unlimited transactions

Zero Interest

Any branch banking

TERMS DEPOSITS

A term deposit is a deposit held for a contracted period of time and a contracted rate of

interest. The Rate of interest for term deposits is higher than that applicable for a normal

savings account and Penal rates of interest is applicable if the deposit is withdrawn

before the contracted period.

Terms deposits rates:

INTEREST RATE (CARDED) FOR TERM DEPOSITS w.e.f.june27,2007

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DOMESTIC/NRO 15 lakhs


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10 months 1 days-11 month 6.00% 6.00% 6.00%

11 month 1 day-1 yr 6.00% 6.00% 6.00%

1 yr 1 day 6.00% 6.00% 6.00%

400-400 days 9.5% 9.5% 9.5%

401-18 months 6.25% 6.25% 6.25%

18 months 1 day- 23

months 6.255 6.25% 6.25%

23 months 1 day-2 years. 6.35% 6.35% 6.35%

2 yr 1 day- 3yrs. 6.50% 6.50% 6.50%

3 Yrs 1 day-3 yrs 2 day. 6.50% 6.50% 6.50%

Economen ABN AMRO: achterstandswijken niet alleen kansarm, maar ook

kansrijk!

Het is tijd voor een aanpak in het wijkenbeleid, waarin niet alleen de problematiek, maar

juist ook het potentieel in achterstandswijken centraal staat. Dat stelt het Economisch

Bureau van ABN AMRO in het rapport 'Kijk op de Wijk: Kansarm of Kansrijk?' dat op

Prinsjesdag is aangeboden aan minister Vogelaar van Wonen, Wijken en Integratie in

Pulchri in Den Haag. Belangrijk in het rapport is de observatie dat het zicht op de

positieve aspecten van de culturele identiteit van achterstandswijken de laatste jaren ten

onrechte vertroebeld is. De economen: 'Een hoog aantal niet-westerse inwoners is niet

per se onwenselijk. Sterker nog, de afwijkende culturele identiteit biedt vaak ook volop

kansen voor economische ontwikkeling. Veel wijken staan als kansarm te boek, maar

zijn in feite tevens als kansrijk te beschouwen!'

Het rapport doet aanbevelingen op vier hoofdterreinen:1) de ontplooiingskansen van de

bevolking, 2) de fysieke omgeving, 3) voorwaarden voor ondernemerschap en 4) sociale

cohesie.

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1. De grootschaligheid van scholen werkt te late probleemsignalering en een hoge mate

van anonimiteit in de hand en moet dus worden teruggedrongen. Verder bestaat het

hardnekkige (onjuiste) beeld dat 'witte' scholen beter zijn dan 'zwarte' scholen, omdat ze'wit' zijn. De oorzaak is echter vooral de sociaal zwakkere uitgangspositie van de

leerlingenpopulatie. Het financieren van scholen op basis van het aantal leerlingen met

een slechte uitgangspositie is echter niet wenselijk. In plaats van achterstanden weg te

werken, ontstaat daardoor het risico dat scholen gericht achterstandsleerlingen gaan

werven. Als kinderen spijbelen of vroegtijdig hun school verlaten, doordat hun ouders

hun verantwoordelijkheden verzaken, zou de kinderbijslag kunnen worden ingezet voor

opvoedingsondersteuning. Allochtone studenten moeten meer worden gemotiveerd zich

in te zetten voor huiswerkbegeleiding of mentoring. De sociale zekerheid moet

activerender worden, bijvoorbeeld door een leerwerkplicht voor jongeren, zoals het

kabinet die voorstelt.

2. De kunst is om degenen die erin slagen zich te ontplooien en zich aan de armoede te

ontworstelen voor de wijk te behouden. De kwaliteit van de woonomgeving speelt

daarbij een grote rol. De overheid moet geen formuleoplossingen ontwikkelen, maar alle

bij de wijk betrokken partijen de mogelijkheid bieden om projecten te realiseren die bij

hen en de wijk passen. De eenzijdigheid van de omgeving moet worden doorbroken door

een evenwichtig aanbod van woningen, een gevarieerde architectuur en een mix van

voorzieningen. Het opkopen en goedkoop doorverkopen van verloederde panden

(klushuizen) blijkt kansen te bieden voor creatievelingen. Van corporaties mag gevraagd

worden dat zij bijdragen aan de wijkaanpak, maar of Haagse belastingmaatregelen

verstandig zijn, valt te betwijfelen: een lokale aanpak is beter.

3. Stimulering van het ondernemerschap verschaft wijken niet alleen meer economische

dynamiek, maar kan ook allochtone jongeren en werklozen perspectief bieden.

Succesvolle etnische ondernemers kunnen rolmodellen zijn voor kansarme jongeren. Dit

potentieel wordt nog onvoldoende benut. Daarom moet de kleine kredietverlening

worden verruimd via samenwerking tussen overheid, kredietverleners en ngo's. Banken

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kunnen daarnaast ook een rol spelen door jonge ondernemers (meer) te coachen. De

laatste jaren wordt weer gepleit voor regelvrije of kansenzones. Dat is echter niet

verstandig: zulke zones werken administratieve verplaatsingen en uitholling van anderewijken in de hand en creeren nieuwe bureaucratie.

3. Een betrokken gemeenschap en hoge mate van sociale cohesie bevorderen de

leefbaarheid van de wijk. Dat vraagt om investeringen in de sociale infrastructuur (zoals

brede scholen en sport-, podiumvoorzieningen) en het ondersteunen van verenigingen bij

het opzetten van hun bestuur/organisatie en het vergroten van de vaardigheden van

trainers en begeleiders in de omgang met vele culturen. Ervaringen in het buitenland

leren dat vrijwillige inzet van mensen uit lagere sociale klassen weliswaar moeilijk, maar

met actieve (al dan niet materiele) prikkels wel degelijk is te organiseren.

ABN AMRO offer update 17 September

ABN AMRO notes the announcement of the Ministry of Finance today regarding theoffer of the Consortium of Royal Bank of Scotland, Fortis and Santander for ABN

AMRO. The Minister has decided to grant declarations of no objection to members

of the Consortium.

The declarations are each subject to conditions. These conditions are included in the

announcement of the Ministry of Finance on: www.minfin.nl. This decision is based

on positive advice from De Nederlandsche Bank, the Dutch Central Bank, which is

available on: www.dnb.nl.

This is an announcement pursuant to article 9b paragraph 1 of the Dutch Securities

Markets Supervision Decree (Besluit toezicht effectenverkeer 1995).

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This document shall not constitute an offer to sell or the solicitation of an offer to

buy any securities, nor shall there be any sale of securities, in any jurisdiction in

which such offer, solicitation or sale would be unlawful prior to registration or

qualification under the securities laws of any such jurisdiction.

Press contact: +31 20 6288900

IR contact: +31 20 6287835

Cautionary statement regarding forward-looking statements

This announcement contains forward-looking statements. Forward-looking

statements are statements that are not historical facts, including statements about our

beliefs and expectations. Any statement in this announcement that expresses or

implies our intentions, beliefs, expectations or predictions (and the assumptions

underlying them) is a forward-looking statement. These statements are based on

plans, estimates and projections, as they are currently available to the management of

ABN AMRO Holding N.V. ("ABN AMRO"). Forward-looking statements therefore

speak only as of the date they are made, and we take no obligation to update publicly

any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. A number of

important factors could therefore cause actual future results to differ materially from

those expressed or implied in any forward looking statement. Such factors include,

without limitation, the outcome of the offers for our business by Barclays PLC

("Barclays") and the consortium of Banco Santander Central Hispano, S.A., Fortis

SA/NV and the Royal Bank of Scotland Group plc ("RBS" and collectively, the

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"Consortium"); the completion of our proposed disposition of LaSalle; the conditions

in the financial markets in Europe, the United States, Brazil and elsewhere from

which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our restructuring

including the envisaged reduction in headcount; the reliability of our risk

management policies, procedures and methods; the outcome of ongoing criminal

investigations and other regulatory initiatives related to compliance matters in the

United States and the nature and severity of any sanctions imposed; and other risks

referenced in our filings with the US Securities and Exchange Commission (the

"SEC"). For more information on these and other factors, please refer to Part I: Item

3.D "Risk Factors" in our Annual Report on Form 20-F filed with the SEC and to

any subsequent reports furnished or filed by us with the SEC. The forward-looking

statements contained in this announcement are made as of the date hereof, and the

companies assume no obligation to update any of the forward-looking statements

contained in this announcement.

Additional Information

Barclays has filed with the SEC a Registration Statement on Form F-4, which

contains a prospectus, and a Tender Offer Statement on Schedule TO. RBS has filed

with the SEC a Registration Statement on Form F-4, which contains a prospectus,

and RFS Holdings B.V., Fortis N.V., Fortis SA/NV, Fortis Nederland (Holding)

N.V., RBS, Banco Santander Central Hispano, S.A.. and Santander Holanda B.V.

have filed with the SEC a Tender Offer Statement on Schedule TO. ABN AMROhas filed with the SEC Solicitation/Recommendation Statements on Schedule 14D-9

in respect of the offer by each of Barclays and the Consortium.

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INVESTORS ARE URGED TO READ ANY DOCUMENTS REGARDING THE

POTENTIAL TRANSACTIONS IF AND WHEN THEY BECOME AVAILABLE,

BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Investors may obtain a free copy of such filings without charge at the SEC's website

(http://www.sec.gov). Copies of the prospectus contained in the Barclays Form F-4

may also be obtained, without charge, from Barclays and copies of the prospectus

contained in the RBS Form F-4 may also be obtained, without charge, from RBS.

The publication and distribution of this document and any separate documentation

regarding the intended offer, the making of the intended offer and the issuance and

offering of Barclays and RBS ordinary shares may, in some jurisdictions, be

restricted by law. This document is not being published and the intended offer is not

being made, directly or indirectly, in or into any jurisdiction in which the publication

of this announcement and the making of the intended offer would not be in

compliance with the laws of that jurisdiction. Persons who come into possession of

this announcement should inform themselves of and observe any of these

restrictions. Any failure to comply with these restrictions may constitute a violation

of the securities laws of that jurisdiction.

ABN AMRO winnaar P&O Actueel Innovatie Award 2007

ABN AMRO is door een vakkundige jury van HR-professionals uitgeroepen tot de

winnaar van de P&O Actueel Innovatie Award. ABN AMRO wint de prijs voor haar

Benefit Shop, een innovatief systeem waarmee medewerkers van de bank zelf de

arbeidsvoorwaarden kunnen regelen.

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Rob Charlier, directeur HR van ABN AMRO Nederland nam de prijs in ontvangst.

Rob Charlier over de Benefit Shop: 'Inmiddels hebben medewerkers van de bank

meer dan 60.000 transacties gedaan via de Benefit Shop. Met deze prijs spreken,naast de ABN AMRO-collega's, ook de vakcollega's hun waardering uit voor

flexibiliteit en innovatie in human resources'.

De Benefit Shop is een online applicatie waarmee medewerkers zelf wijzigingen

kunnen aanbrengen in hun arbeidsvoorwaardelijke regelingen. Zo kan de

medewerker via de Benefit Shop vrije uren bijkopen of uren afstaan om bijvoorbeeld

te sparen voor een sabbatical. De Benefit Shop is direct gekoppeld aan het

personeelsinformatiesysteem en verwerkt online mutaties.

ABN AMRO announces updated outlook for the full year 2007 in connection with

the Extraordinary General Meeting of Shareholders on 20 September

ABN AMRO today announces an update on the expected earnings for the year 2007and our capital ratios.

Based on the results as per August year-to-date, we are on track to deliver an

earnings per share (EPS) of approximately EUR 2.30 on an adjusted basis*,

notwithstanding the impact of the current turmoil in financial markets on our Global

Markets results and continued disappointing performance of Antonveneta.

Due to slightly higher demand for capital from our businesses, our capital ratios may

be marginally below our target ratios at the end of the third quarter. We do expect to

meet our capital ratio targets, a core tier 1 ratio of 6% and a tier 1 ratio of 8%, by

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year end 2007 under a normal course of business and following through on our

commitment to strict capital discipline.

We are pleased to report that current market circumstances have not resulted in a

revision of our loan loss provision forecast. In line with previous statements we

expect the loan loss provisioning for our consumer portfolio to increase with the

growth of the portfolio and to see somewhat higher levels of provisioning in the

commercial portfolio due to the absence of write-backs and releases. ABN AMRO

has a very limited exposure to the subprime segment.

ABN AMRO's overall liquidity position remains strong. For clarification purposes:

ABN AMRO manages several asset-backed commercial paper (ABCP) conduits,

which are diversified in terms of geographical and asset coverage and the maturities

of the ABCP are well spread over time. The actual outstanding ABCP as per 13

September 2007 is EUR 51.5 bln, of which EUR 29.4 bln is in multi-seller conduits.

All major conduits have been rolled over in the past weeks without any difficulty due

to the underlying quality of the assets. It is noteworthy that up to 50% of the main

multi-seller conduits can self-liquidate within a 3 month period. Retail savings

remain stable. As part of our standard liquidity management process, ABN AMRO

maintains a very substantial liquidity buffer to meet all contingent liquidity needs.

We continue to monitor market developments, and remain comfortable with our

liquidity position.

* For further details of the adjustments we refer to the first half 2007 results press

release of 30 July 2007

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IR contact: +31 20 6287835








beliefs and expectations. Any statement in this announcement that expresses or

implies our intentions, beliefs, expectations or predictions (and the assumptions









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SA/NV and the Royal Bank of Scotland Group plc ("RBS" and collectively, the"Consortium"); the completion of our proposed disposition of LaSalle; the conditions


which we derive a substantial portion of our trading revenues; potential defaults of

borrowers or trading counterparties; the implementation of our restructuring


















have filed with the SEC a Tender Offer Statement on Schedule TO. ABN AMRO

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has filed with the SEC Solicitation/Recommendation Statements on Schedule 14D-9



POTENTIAL TRANSACTIONS IF AND WHEN THEY BECOME AVAILABLE,

BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.



may also be obtained, without charge, from Barclays and copies of the prospectus

contained in the RBS Form F-4 may also be obtained, without charge, from RBS.

The publication and distribution of this document and any separate documentation

regarding the intended offer, the making of the intended offer and the issuance and

offering of Barclays and RBS ordinary shares may, in some jurisdictions, be

restricted by law. This document is not being published and the intended offer is notbeing made, directly or indirectly, in or into any jurisdiction in which the publication

of this announcement and the making of the intended offer would not be in

compliance with the laws of that jurisdiction. Persons who come into possession of

this announcement should inform themselves of and observe any of these

restrictions. Any failure to comply with these restrictions may constitute a violation

of the securities laws of that jurisdiction.

ABN AMRO publishes shareholders' circular including reasoned opinion of theBoards

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ABN AMRO today has published a circular to update shareholders on the view of

ABN AMRO on the Offers that have been made for the bank by Barclays and the

Consortium of RBS, Santander and Fortis. The shareholders' circular contains areasoned opinion of the ABN AMRO Managing Board and the ABN AMRO

Supervisory Board, further to the reasoned opinion as first published 30 July 2007.

The text of the reasoned opinion is included below in this press release. The full text

of the shareholders' circular can be found on the ABN AMRO website and also

contains other information in accordance with section 9q paragraph 2 of the Dutch

Securities Markets Supervision Decree (Besluit toezicht effectenverkeer 1995).

Reasoned opinion

The ABN AMRO Managing Board and the ABN AMRO Supervisory Board have

further reviewed and discussed the Offers with a view to forming a reasoned opinion

on both Offers based on the current situation and taking into account the best

interests of ABN AMRO shareholders and other stakeholders. The ABN AMRO

Managing Board and the ABN AMRO Supervisory Board have continued to

compare the Offers with the stand-alone scenario, as well as a 'managed break-up'

alternative. However, based on the situation today, the ABN AMRO Boards are of

the opinion that the current Offers are superior for shareholders and other

stakeholders of ABN AMRO, in particular when taking into account the execution

risks of the alternative scenarios for shareholders. In accordance with Dutch law (as

further explained in paragraph 7 of this shareholders' circular), the ABN AMRO

Managing Board and the ABN AMRO Supervisory Board assessed each Offer in thecontext of the following elements:

Interest of shareholders and other stakeholders

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Shareholders: the current value of the Offers, the mix of consideration, the degree of

sensitivity, as appropriate, of the value of the Offers to the offerors' share prices and

proposed synergies.

Employees: career opportunities, commitments, any proposed gross and net

redundancies and the formal advice and opinions of, as well as views expressed by,

employee representative bodies.

Customers: service quality and continuity with regard to product offerings and

business models.

Creditors: financial strength and long-term ratings of the ongoing businesses.

Company: fit with ABN AMRO's strategic growth objectives and aim to become a

top 5 player by market-cap and create superior long-term value for our shareholders.

Risks associated with each proposed transaction

Execution risks, including the likelihood and timing of regulatory approvals, the

wording of "Material Adverse Change" clauses and other pre-offer and offer

conditions or fiduciary outs of each Offer.

Post-acquisition risks: where relevant, break-up and integration risks, capital

adequacy and funding, legal and compliance risks and business integrity risks.

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Corporate Governance

Headquarter location, board structure and board representation, likely distribution of

senior and middle management positions.

Barclays Offer

Barclays announced on July 23, 2007 the proposed terms of the revised Barclays

Offer, which was formally launched on August 6, 2007 and, if not extended, closes

on October 4, 2007.

The revised Barclays Offer includes amended offer terms and has introduced a

significant cash element, together with a mix-and-match alternative. The value of the

Barclays Offer remains highly dependent on the share price performance of

Barclays.

Barclays obtained shareholder approval for the consummation of the Barclays Offer,

including the issuance of new ordinary shares, on September 14, 2007.

The ABN AMRO Boards note that the proposed merger with Barclays is consistent

with ABN AMRO's previously articulated strategic vision. ABN AMRO's

assessment of the related post acquisition business and integration risks is that they

are manageable and acceptable.

The proposed transaction with Barclays has been cleared by the European

Commission. The European Commission concluded that consummation of the

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Barclays Offer would not significantly impede effective competition in the European

economic area or any substantial part thereof.

The proposed transaction with Barclays has received a declaration of no objection

from the Dutch Ministry of Finance and DNB with certain prescriptions and

restrictions which are intended to ensure a smooth transition and integration process

and to safeguard the interests of our customers, our creditors and the financial

system. Barclays has publicly announced that its directors believe that Barclays will

have no difficulty complying with these prescriptions and restrictions. The ABN

AMRO Managing Board and the ABN AMRO Supervisory Board will cooperate

with Barclays in meeting these prescriptions and restrictions imposed by the DNB

and the Dutch Ministry of Finance during a transition period following settlement, if

the Barclays Offer would be successful.

The ABN AMRO Boards also took into account the positive opinion of the European

Staff Council and the positive advice of the Central Works Council in respect of the

proposed combination with Barclays, received by ABN AMRO as part of the

consultation process. The ABN AMRO Boards also noted the commitments made to

employees and trade unions in respect of employee's rights and respecting of existing

agreements including redundancy plans.

As at the market close on September 14, 2007, the Barclays Offer was at a 9.8%

discount to the ABN AMRO market price and at a 16.7% discount to the see-through

value of the Consortium Offer.

Based on current valuation levels, the ABN AMRO Boards are therefore, while

recognizing the strategic benefits of the combination with Barclays, not in a position

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to recommend the Barclays Offer for acceptance to ABN AMRO shareholders from

a financial point of view. It should be noted that the Barclays Offer remains subject

to the condition that the ABN AMRO Boards recommend the Barclays Offer by theend of the offer period. Barclays is entitled to, but not obliged, to waive this

condition and could therefore decide not to declare its Offer unconditional.

Consortium Offer

The Consortium formally launched its Offer on July 21, 2007. The tender offer

period, if not extended, will end on October 5, 2007.

The current value of the Offer, with its high cash component, is highly attractive to

the ABN AMRO shareholders from a financial point of view. As at the market close

on September 14, 2007, the Consortium Offer was at a premium of 8.2% to the ABN

AMRO market price and of 20.0% to the see-through value of the Barclays Offer.

The shareholders of each of Fortis, RBS and Santander have approved the

consummation of the Consortium Offer, which has removed uncertainty about the

outcome of the Consortium's respective shareholder votes.

In August and early September, ABN AMRO Managing Board members and senior

business representatives of ABN AMRO had more than 30 meetings with the

Consortium to discuss the ABN AMRO businesses and activities and to address

possible issues associated with the Consortium Offer and its plans. This resulted in a

better understanding of the strategy and plans of the Consortium members and how

ABN AMRO's assets would contribute. The explanation of the Consortium approach

with respect to clients and employees has considerably reduced the concerns in those

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areas. The ABN AMRO Boards welcomed the efforts made by the Consortium in

establishing a dialogue with the ABN AMRO employee representative bodies and

the commitments made to the ABN AMRO employees with respect to social plans,collective labour agreements and redundancy procedures.

At the date of this shareholders' circular, the proposed transaction with the

Consortium has not been cleared by the European Commission. On September 13,

2007, the European Commission extended the review of the proposed transaction

with the Consortium to October 3, 2007, further to remedies offered by Fortis to the

European Commission. The ABN AMRO Boards have noted the discussions

between Fortis and the European Commission. After having reviewed the position

taken by each of Fortis and the European Commission the ABN AMRO Boards

concluded that the impact of the remedies offered by Fortis on customers and

employees is not materially different from the impact of the Consortium Offer as

such. The outcome of the review by the European Commission is not yet known to

ABN AMRO. In coming to its reasoned opinion, the ABN AMRO Boards have

assumed that the condition to the Consortium Offer regarding review of the proposed

transaction by the European Commission is satisfied or waived prior to the end of the

initial tender offer period of the Consortium Offer, on terms and conditions

acceptable to also ABN AMRO. The ABN AMRO Boards acknowledge that

remedies to be agreed upon by Fortis and the European Commission (if any) and the

way of implementing such remedies might result in additional post-completion

execution risks.

The decision on the proposed transaction by the Ministry of Finance and the views of

the DNB in this respect have not yet been published. Publication of the decision of

the Ministry of Finance and the views of the DNB is expected on Monday,

September 17, 2007. If and when published, the ABN AMRO Boards expect that any

declaration of no objection from the Ministry of Finance and the DNB for the

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Consortium Offer will have certain prescriptions and restrictions, which will include

at least prescriptions and restrictions similar to the Barclays Offer, which are

intended to safeguard the interests of our customers, our creditors and the financialsystem and aim at mitigating certain risks related to the Consortium Offer.

The ABN AMRO Boards have offered to cooperate with the Consortium in order to

help mitigate the remaining identified risks associated with the Consortium Offer

and to assist in meeting any prescriptions and restrictions imposed by the DNB and

the Dutch Ministry of Finance during a transition period following settlement, if the

Consortium Offer would be successful.

Nevertheless, the ABN AMRO Boards continue to see additional business and

operational risks associated with the proposed break-up of ABN AMRO.

The amount of the capital raisings yet to be completed by the Consortium members

during the coming weeks to fund the cash component of the Consortium Offer ishigh in absolute and relative terms and market circumstances are volatile at this point

in time. The broadly defined "Material Adverse Change" clause as worded in the

Consortium Offer remains unchanged and constitutes an area of continued concern

during this period of increased market volatility.

The ABN AMRO Boards are not in a position to recommend the Consortium Offer

for acceptance to ABN AMRO shareholders but acknowledge the clearly superior

value of the Consortium Offer to the ABN AMRO shareholders.

Conclusion

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The ABN AMRO Managing Board and the ABN AMRO Supervisory Board remain

committed to ensuring that shareholders have the option to accept either the

Consortium Offer or the Barclays Offer. The combination with Barclays remainsconsistent with the strategic intent of ABN AMRO as an institution. Furthermore, the

ABN AMRO Boards are not in a position to support the break-up of ABN AMRO

but acknowledge that the Consortium Offer, with its high cash component and

significant implied premium to the Barclays Offer, is clearly superior for the ABN

AMRO shareholders from a financial point of view based on current valuation

levels.

Therefore, the ABN AMRO Managing Board and the ABN AMRO Supervisory

Board refrain from recommending either Offer for acceptance to ABN AMRO

shareholders. ABN AMRO will continue to engage with both Barclays and the

Consortium to facilitate removal of uncertainties and conditions where possible and

the ABN AMRO Boards have offered to support the transition of ABN AMRO

under both Offers.






IR contact: +31 20 6287835


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beliefs and expectations. Any statement in this announcement that expresses orimplies our intentions, beliefs, expectations or predictions (and the assumptions











SA/NV and the Royal Bank of Scotland Group plc ("RBS" and collectively, the

"Consortium"); the completion of our proposed disposition of LaSalle; the conditions


which we derive a substantial portion of our trading revenues; potential defaults of

borrowers or trading counterparties; the implementation of our restructuring










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have filed with the SEC a Tender Offer Statement on Schedule TO. ABN AMRO

has filed with the SEC Solicitation/Recommendation Statements on Schedule 14D-9



POTENTIAL TRANSACTIONS IF AND WHEN THEY BECOME AVAILABLE,BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.



abn ambro bank final 19-09-2007

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