Explore Business Standard
ABN Amro
The Dutch bank's deal comes as European lenders seek to diversify their revenues by bulking up in areas such as wealth management and private banking
 "ABN Amro to buy German bank in biggest deal since 2008 financial crisis")
Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to 2024
 "Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad")
The restructuring will affect around 45 per cent of client loans, worth 18 billion euros ($21 billion) and follows several failed attempts to increase the profitability of the corporate bank
As part of this renewed contract, the Bengaluru- headquartered IT major will enable ABN AMRO Bank to achieve its business and operational goals
 "Infosys signs multi-million contract with ABN AMRO to accelerate operations")
ABN Amro plans to invest 1 bn in India
Company expects a substantial book gain on the sale, it said without disclosing a selling price