Fortis to close more ABN Amro branches

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The Belgian-Dutch bank is to close 207 local branches, twice as many as previously announced.

23 May 2008

THE NETHERLANDS - The Belgian-Dutch bank Fortis, which has taken over Dutch bank ABN Amro, is to close 207 local branches, twice as many as previously announced.

Branches which will shut include those less than half a kilometre from another branch. The remaining banks will, however, provide a complete range of services.

In the past, a number of branches offered only partial services.

The operation will be completed by 2010. It is not yet clear which name will be displayed at the branches.

Trade unions have expressed surprise at the announcement and will examine the likely consequences for the bank's employees.

A consortium comprising Fortis, Banco Santander and the Royal Bank of Scotland acquired ABN Amro in 2007. Fortis paid EUR 24 billion for the Dutch operations of ABN Amro.

[Radio Netherlands / Expatica]


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