Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Business
Politics
ABN Amro
Cabinet
council of ministers
Executive Board
executive board salary hike
Finance Minister
financial crisis
first tranche of shares
IPO
Jeroen Dijsselbloem
nationalize
parliament
peace and trust
restoring peace
salary hike
salary increase
salary scandal
stock market
Thursday, 21 May 2015 - 17:02
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Cabinet expected to decide ABN Amro's IPO fate tomorrow

The Netherlands Council of Ministers is expected to make a decision on whether or not to push forward with a sell-off of state-owned bank ABN Amro, sources inside parliament told newswire ANP. The government was supposed to make a decision about the sale two months ago, but it was sidetracked when the bank's executive board offered themselves a salary hike, causing a public uproar. After nationalizing ABN Amro for 16.8 billion euros at the height of the financial crisis in 2008, the government already made the initial decision in August 2013 to move forward with an initial public offering, putting the bank back on the stock market. Finance Minister Jeroen Dijsselbloem has stayed calm and confident about the IPO, as he has been saying all the way through the salary scandal that the first tranche of shares of ABN Amro would be sold before the end of this year, but affirming that there would be no green light for an IPO unless the bank regained the public's trust after the salary row. He told the RTL Z on Tuesday that the bank has taken good steps towards restoring peace and trust, especially after issuing an apology for the issue with their year-end report. Prime Minister Mark Rutte has also repeatedly said he wants to see an ABN Amro IPO by the end of the year. ABN Amro and ING are both believed to have lost customers over executive salary increases in March.

Follow us:

Latest stories

  • NL residents spent over €11 billion on making their homes more sustainable last year
  • Boy, 5, back home after accident with Utrecht bus that killed sister, 7
  • Municipality of Amsterdam is going to ban TikTok on work phones; Telegram could be next
  • Dutch railway NS warns 780,000 customers about data breach
  • Amsterdam tells British men to "stay away" if they plan to "go wild" on a visit
  • Amsterdam social housing intern accused of using dead tenants' homes to grow cannabis

Top stories

  • Amsterdam tells British men to "stay away" if they plan to "go wild" on a visit
  • Cabinet crisis: Coalition leaders to discuss election landslide tonight
  • Upcoming hospitals strike cancelled after deal reached with unions
  • Emergency services running a terrorism drill in Amsterdam today, tomorrow
  • Asylum agency risking people's health by buying cheapest possible care: report
  • Engineering firm Arcadis apologizes for predecessor's role in WWII labor camps

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content