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.