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ABN AMRO completes acquisition of SocGen's Belgian private bank business

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ABN AMRO completes acquisition of SocGen's Belgian private bank business

ABN AMRO Private Banking Belgium SA completed the acquisition of the private banking activities of Société Générale SA in Belgium through a merger.

The deal was announced in July 2018 and doubled ABN AMRO Bank NV's assets under management in Belgium to roughly €12 billion.

The bank said the merger could impact 15% to 20% of the jobs in its private banking division between 2020 and 2022.