ABN AMRO Bank creates strong presence in Indonesia
ABN AMRO Bank creates strong presence in Indonesia
The presence of ABN AMRO Bank in Indonesia dates back to 1826, when the bank's predecessor, Nederlandsche Handel Maatschappij, a trading company founded by King Willem I, first opened its offices in Indonesia. In 1969, ABN AMRO Bank was granted an operational license and became one of the 10 entirely foreign owned banks in Indonesia.
It has grown into a network of six offices, all strategically located in Jakarta, Bandung and Surabaya. A new office will shortly be opened in Medan. The bank's worldwide network operates over 1,650 offices in 61 countries and, with total assets of US$285 billion, ranks 18th among the largest banks in the world.
With local assets totaling to over Rp 1 trillion, ABN AMRO Indonesia presently ranks fourth in terms of assets among the foreign banks in this country. It employs over 300 people and provides full banking services in the areas of corporate banking, consumer banking and capital markets. The capital market is supported by its reputable securities company, ABN AMRO Hoare Govett, which operates a subsidiary HG Asia with solid representation in Indonesia. ABN AMRO Group also operates a local leasing company under the name of ABN AMRO Leasing Indonesia.
ABN AMRO has a strong presence in servicing multinational and large Indonesian companies as well as export oriented medium sized Indonesian companies. The bank tailors its services to its corporate and private customers. The customers benefit from the bank's worldwide network and its 61,437 employees.
On paper, ABN AMRO Bank is still a relatively new bank. In fact, it is a banking group with a history that goes back to 1824. It was formed as a result of a merger between ABN Bank, or Algemene Bank Nederland, and AMRO bank, or Amsterdam-Rotterdam Bank, in September 1990.
ABN was founded from the merger of Nederlandsche Handel Maatschappij (1824) and De Twentsche Bank (1861) in 1964, thus forming the Algemene Bank Nederland N.V. Four years later ABN acquired the Hollandsche Bank-Unie N.V., and in 1975 was joined by another famous name in Dutch banking, Bank Mees and Hope Group N.V.
AMRO's roots go back to the Amsterdamsche Bank, founded in 1871, and the Rotterdamsche Bank, founded in 1863. These two banks merged in 1964, to be joined in 1975 by a strong international investment bank, Pierson, Heldring & Pierson. Following the steps of the parent companies, the specialized subsidiaries Bank Mees & Hope and Pierson, Heldring & Pierson merged under the name MeesPierson in April 1993.