Deutsche Bank to acquire part of ABN AMRO

by Richard Kilner

Story link: Deutsche Bank to acquire part of ABN AMRO

Deutsche Bank has confirmed that it has signed a heads of agreement with the Dutch Ministry of Finance, as a result of which the German bank will acquire some of the commercial banking activities of ABN AMRO in the Netherlands.

The final terms and conditions of the agreement remain under negotiation, and the deal itself still requires a number of regulatory green lights to go ahead.

When the deal is completed Deutsche Bank will become the fourth largest provider of investment and corporate banking in the Netherlands, where it already enjoys a substantial presence.

In May of this year the bank acquired the Global Agency Securities Lending business of Dresdner Bank from Commerzbank, and at the start of October established a subsidiary firm in the Ukraine, Deutsche Bank DBU.

This latest agreement will further Deutsche Bank’s growth and strengthen its already considerable standing in Europe.