The Hague, Aug 23 (IANS) State-owned Dutch lender ABN Amro will be sold preferably through an initial public offering (IPO), the Dutch government said Friday.
According to a privatization proposal for the bank brought forth by Dutch Finance Minister Jeroen Dijsselbloem, an IPO was the best option for the eventual sale of the bank rescued by the Dutch government in 2008.
“The planned IPO of ABN Amro and ASR stimulate competition in the financial sector. That is, certainly in the longer term, good for the consumer,” Xinhua quoted Dijsselbloem as saying.
“The IPOs are consistent with our vision on the Dutch banking sector. Banks should contribute to the proper functioning of the Dutch economy. The best way is if banks stand on their own feet,” he added.
“We will get as good a price as possible… We will decide in a year if it is time, and in the meantime we will ask ABN Amro to get ready for a listing,” Prime Minister Mark Rutte told a press conference.
However, he added that the chance of selling with a profit was small.
Earlier Friday, ABN Amro announced a net profit for the first half of 2012 of 817 million euros, a decline of 3 percent year on year.
