ABN opens 4 branches here

ABN opens 4 branches here

AMSTERDAM (Dow Jones): Leading Dutch bank ABN Amro Holding NV said yesterday that it has opened four new branches in Indonesia, bringing the total number of branches in the country to 14.

The bank, which had to close its offices in Indonesia temporarily at the height of the social unrest earlier this year, said it has been opening new accounts in all new locations.

"The Western banks are seen as safe havens in these turbulent times," ABN Amro spokesman Tanno Massar said, explaining the large number of new private customers in the country which has been hit hard by the financial crisis in Asia.

The new offices of ABN, which has been active in Indonesia since 1826, are located in Solo, Denpasar, Semarang and Manado.