# AMRO Bank

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{{Short description|Former Dutch bank}}
{{Infobox company
| name = AMRO Bank
| logo = AMRO bank logo.svg
| logo_caption = 
| image = Foppingadreef 22.jpg
| image_caption = Head office of AMRO in southeast Amsterdam, inaugurated in 1987
| fate = Merged with ABN
| successor = [ABN AMRO](/source/ABN_AMRO)
| founded = {{start date and age|1964}}
| defunct = {{end date|1991}} <!--date it went bankrupt/merged etc.-->
| location = [Amsterdam](/source/Amsterdam), Netherlands
| industry = [Financial services](/source/Financial_services) <!--types of products or services offered-->
| key_people = 
| products = [Asset management](/source/Asset_management)<br/>[Commercial bank](/source/Commercial_bank)ing<br/>[Investment bank](/source/Investment_bank)ing<br/>[Private banking](/source/Private_banking)<br/>[Retail banking](/source/Retail_banking)
| num_employees = <!--peak number of employees-->
| parent = [ABN AMRO](/source/ABN_AMRO)
}}

The '''Amsterdamsche en Rotterdamsche Bank''' ('''AMRO Bank''', {{lit|Bank of Amsterdam and Rotterdam}}) was a major Dutch bank that was created in 1964 by the merger of the [Amsterdamsche Bank](/source/Amsterdamsche_Bank) (est. 1871) and the [Rotterdamsche Bank](/source/Rotterdamsche_Bank) (est. 1863).<ref>{{cite news |newspaper=New York Times |title=Bigness Sought by Dutch Banks; Merger of 4 Units Into Two Aimed at Competition |date={{date|1964/07/06}} |url=https://www.nytimes.com/1964/07/06/archives/bigness-sought-by-duth-banks-merger-of-4-units-into-two-aimed-at.html }}</ref> In 1991, it merged with [Algemene Bank Nederland](/source/Algemene_Bank_Nederland) (ABN) to form [ABN AMRO](/source/ABN_AMRO).

== History ==
[[File:Jan van den Brink.jpg|thumb|Statesman [Jan van den Brink](/source/Jan_van_den_Brink) was instrumental in the merger of Amsterdamsche Bank and Rotterdamsche Bank in 1964, and remained on the bank's board until 1978]]

As early as 1939, there had been plans to merge the two banks but the banks shelved these plans in anticipation of Dutch involvement in [World War II](/source/World_War_II). The two banks announced their merger on {{date|1964/06/11}}, and were integrated during the following year.<ref>{{cite web |url=http://www.abnamro.com/en/about-abn-amro/history/history-downloads/index.html |title=ABN AMRO History |publisher=ABN AMRO History department |accessdate=13 July 2010| archiveurl= https://web.archive.org/web/20100806142434/http://www.abnamro.com/en/about-abn-amro/history/history-downloads/index.html| archivedate= 6 August 2010 | url-status= live}}</ref>

As soon as the AMRO Bank was set up, it set about gaining market share in business lending, leasing and factoring as well as in medium to long term credit. To do this it established the ''Nationale Bank voor Middellang Krediet'' business unit to provide medium to long term credit. It established or acquired companies such as ''Mahuko'' (Society for leasing) and ''Amstel Lease'' for its [leasing](/source/Finance_lease) business. The financing of [factoring](/source/factoring_(finance)) was brought together under the ''International Factors Nederland B.V.'', the oldest factoring company in the Netherlands.

In the 1960s and 1970s, like many other banking companies, AMRO saw growth in retail banking and this became a much bigger part of the business. Its wholesale banking was also strengthened by the acquisition of [Pierson, Heldring & Pierson](/source/MeesPierson) (PHP) in 1975. AMRO operated PHP as an independent unit under its existing name. Another acquisition was [Utrecht](/source/Utrecht) based ''Bank Flaors & Ko'', which had been in existence since 1691. This bank was absorbed under the AMRO Bank brand.

In 1967, AMRO Bank was one of the founders of the consortium bank ''Banque Européenne de Crédit à Moyen Terme'' (European bank of long term credit) based in [Belgium](/source/Belgium). The aim was create an entity that was large enough to work at an international level.

Soon after this, with their sights on European integration, AMRO Bank announced plans to collaborate with Belgian [Generale Bank](/source/Generale_Bank) with the aim of building a European international bank. However, this project was too ambitious and never managed to get off the ground.<ref>{{cite web|url=http://www.abnamro.com/en/images/010_About_ABN_AMRO/050_History/020_Downloads/AMRO_uk.pdf |title=History of Amsterdam Rotterdam Bank 1964 1991 |publisher=ABN AMRO History department |accessdate=13 July 2010 |url-status=dead |archiveurl=https://web.archive.org/web/20120401130821/http://www.abnamro.com/en/images/010_About_ABN_AMRO/050_History/020_Downloads/AMRO_uk.pdf |archivedate=1 April 2012 }}</ref>

It was only when the Dutch Government announced that it was relaxing its merger rules for financial institutions that [ABN](/source/Algemene_Bank_Nederland) and AMRO Bank were able to seize the opportunity to merge and to create a bank large enough to fulfill these ambitions. On 24 August 1990, [ABN AMRO](/source/ABN_AMRO) was created by the conversion of the shares of both banks into shares of the newly established ''ABN AMRO Holding N.V.''

<gallery>
File:Amsterdam-Booking.com aan Rembrandtplein (1).jpg|Amsterdam head office before 1987, lately headquarters of [Booking.com](/source/Booking.com)<ref>{{cite web |website=Financial History of Amsterdam |title=Rembrandtsplein: Amsterdamsche Bank, Incasso Bank, Amro-bank, ABN AMRO Bank |date={{date|2011/08/26}} |url=https://financialhistoryofamsterdam.simonl.org/2011/08/rembrandtsplein-amsterdamsche-bank.html |author=Simon Lelieveldt}}</ref>
File:Forum Rotterdam - Rotterdamsche Bank 2022 01.jpg|{{ill|Rotterdamsche Bank (Rotterdam){{!}}Rotterdam head office|nl|Rotterdamsche Bank (Rotterdam)}}, later repurposed as a shopping center<ref name=Robaver>{{cite web |website=Post-war reconstruction Community Rotterdam |url=https://wederopbouwrotterdam.nl/en/articles/rotterdamsche-bank |title=Rotterdamsche Bank}}</ref>
File:Roofoverval bij Amro-bank, Beethovenstraat, Amsterdam, Bestanddeelnr 923-6862.jpg|Beethovenstraat branch in Amsterdam, 1970
</gallery>

==See also==
{{Portal|Banks}}
* [Rabobank](/source/Rabobank)
* [List of banks in the Netherlands](/source/List_of_banks_in_the_Netherlands)

==References==
{{Reflist}}

{{Use dmy dates|date=June 2017}}

{{DEFAULTSORT:Amro Bank}}
Category:Defunct banks of the Netherlands
Category:Banks established in 1964
Category:ABN AMRO
Category:1964 mergers and acquisitions
Category: Companies formerly listed on Euronext Amsterdam

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Adapted from the Wikipedia article [AMRO Bank](https://en.wikipedia.org/wiki/AMRO_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/AMRO_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.