RSS Feeds

ABN Amro chief says Dutch bank ready to privatize

Thursday - 6/20/2013, 11:20am  ET

AMSTERDAM (AP) -- The chief executive of ABN Amro says the Dutch bank is ready to be privatized.

Gerrit Zalm said on a late-night television talk show Wednesday that the bank is sufficiently capitalized and had remained profitable despite a recession in the Netherlands.

"We're ready," said Zalm, a former finance minister.

The country's current government has said the earliest the bank would be reprivatized is 2014.

ABN Amro was nationalized in 2008 to avoid a meltdown of the Dutch financial system. The rescue cost taxpayers at least 32 billion euros ($42 billion).

As one of three banks dominating the Dutch market, analysts say the restructured ABN might be worth 20 billion euros.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.