AMRO wins more clients

AMRO wins more clients

AMSTERDAM (Reuter): Dutch bank ABN AMRO NV said yesterday the recent currency turbulence in Asia had won it many new customers in Southeast Asia as local investors opted for the security of a big-name international bank.

ABN AMRO executive board chairman Jan Kalff, in Hong Kong for the annual IMF meeting, told reporters that the Dutch bank had benefited from a "flight to quality".

"Since the crisis broke out at the beginning of July our client roster in Thailand, Indonesia, Malaysia and the Philippines has grown by dozens of percent," an ABN AMRO spokesman quoted Kalff as saying in Hong Kong.

ABN AMRO spokesman Jules Prast said Kalff was referring to local high wealth individuals, corporates and international firms.