ABN Amro to merge Bethmann Bank into German operations to cut costs

ABN Amro Bank NV will combine German unit Bethmann Bank AG with its main arm in the country, allowing the Dutch lender to free up liquidity and pare capital costs.

The move, due to take place at the start of the fourth quarter, will not affect Bethmann Bank's brand, strategy or operations, according to a June 29 statement. ABN Amro eventually intends to shift all of its private bank units in northwestern Europe onto the same technological and regulatory platform to boost cross-border cooperation between units and expand client services, the statement said.

Bethmann Bank had €7.71 billion in total assets at the end of 2021, according to S&P Global Market Intelligence data. ABN Amro has 12 depository branches in Germany, its biggest foreign network, the data show.