Ads by Google

ABN Amro's Indian arm posts surge in bad loans in 2008-09

NEW DELHI, Sept 21, 2009 (Asia In Focus via COMTEX) --

Company: Bank of Scotland (BSLDF)

The Indian arm of global lender ABN AMRO BANK, whose retail business is reported to be on the block, recorded a near three-fold growth in bad loans during 2008-09. The net Non-Performing Asset (NPA) ratio -- a pointer to the loans that are considered bad -- of ABN Amro has gone up to 2.2 per cent of its assets suggesting that the foreign bank is just a shade better than the crisis ridden CITIBANK, the RBI data revealed.

* The Royal Bank of Scotland (RBS), which acquired global operations of ABN Amro Bank, is in advanced discussions with bidders for selling its retail and commercial banking businesses in certain Asian markets, including that of India.

* ABN Amro Bank's net NPA ratio, according to the Reserve Bank of India (RBI), increased from 0.85 per cent in 2007-08 to 2.20 per cent during 2008-09, one of the highest among the 30 foreign banks operating in the country.

Copyright (C) 2009 Asia in Focus. All rights reserved

News Provided by COMTEX

Company: Bank of Scotland (BSLDF)


Related terms: bank, banking, business, commercial, india, rbi, retail

Related Articles

ABN AMRO Bank N.V. announces successful Consent Solicitation with regard to its outstanding EUR1 billion 4.310% Perpetual Capital Securities
Oct 30, 2009
...Release 30 October 2009 ABN AMRO Bank N.V. announces successful...Proposal On 7 October 2009, ABN AMRO Bank N.V. (the Company...AMRO II N.V. (to be renamed ABN AMRO Bank N.V. upon Legal Demerger...

Overseas Diamonds Goes Under Water
Oct 28, 2009
...industry is not out of its hole just yet. Antwerp bankers were pretty pessimistic in an article Monday in Bloomberg, with ABN Amro’s Victor van der Klast saying that as many of a third of the world’s diamond companies would be “lost” without bank support...

Dutch government commits €3bn to ABN Amro
Nov 19, 2009
...19 Dutch government commits €3bn to ABN Amro The Dutch government said today it...another €3 billion into nationalised bank ABN Amro, raising the national debt with no...23 billion in the last 13 months to ABN Amro and the nationalisation process...

How will the UK’s new banks look?
Nov 6, 2009
...Hampson, director at Bishopsgate Financial Consulting, who previously headed up the transactional banking business of Dutch bank ABN AMRO, says the main objectives for the new banks will be simplification, quality of service and lowering costs. "No banks...