ABN sees better RI ventures<\/p>\n
BRUSSELS (Reuters): Dutch bank ABN AMRO said on Monday it did
\nnot expect to have to make large additional provisions for its
\nexposure in Indonesia despite the recent change of government in
\nthe Asian country.<\/p>\n
Asked whether there would be fresh provisions in view of the
\nnew situation, Chairman Jan Kalff told reporters after a bankers'
\nforum in Brussels, \"Not all that much; at the moment, I think we
\nhave done enough.\"<\/p>\n
In 1997, ABN AMRO set aside 500 million guilders for potential
\nAsian loan losses, noting the crisis in Indonesia, in particular,
\nwhere the Dutch bank is the oldest foreign bank, had given it
\ncause for concern.<\/p>\n
In February, ABN AMRO said outstanding in the corporate sector
\nin Indonesia amounted to 1.7 billion guilders.<\/p>\n
On the upside, Kalff said, Indonesians had in the face of the
\nrecent civil unrest been depositing their cash with foreign banks
\nsuch as ABN AMRO, resulting in 1,000 new customers a week for the
\nDutch group.<\/p>\n
This meant that ABN AMRO now had more rupiah income, which was
\nreducing its foreign exchange risk on rupiah lending.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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