ABN AMRO launches ABN AMRO Broking
Our Banking Bureau
24 May 2006
ABN AMRO Broking has been launched under the aegis of ABN AMRO Asia Equities (India), which currently does broking for institutional investors. The India research team of ABN AMRO Asia Equities currently covers over 80 companies, which together comprise more than 75 per cent of the BSE market capitalisation. The brokerage will migrate this experience and understanding along with its learnings from its vast global experience to its retail broking business helping clients unlock the maximum potential from their investments.
Announcing the launch, Jeroen Drost, chief executive officer, ABN AMRO Asia, said, "We are delighted to be the first international bank to bring its global investment expertise to the domestic retail brokerage market in India. We are confident that our unique offering will provide clients with an innovative and convenient trading experience that is designed to meet their needs.
"Robust activities in the country's capital market have resulted in increased interest by the retail investor," said Romesh Sobti, Country Executive of ABN AMRO India. "As an international bank with established operations combined with the well recognised research capabilities of ABN AMRO Asia Equities, we strive to bring to the investor benefits which very few players in the broking business can - the convenience of a 3-in-1 trading, demat and savings bank account, access to multiple trading channels and above all, the credentials of trust and reliability of a proven player in the wealth management space.
"Listed on Euronext and the New York Stock Exchange, Netherlands-based ABN AMRO is a leading international bank with total assets of € 975.1 billion and operations in more than 60 countries and territories.
The bank has an eight-decade long association with India and enjoys a strong image as a corporate bank with comprehensive 'global transaction services'. Its investment banking services are delivered through ABN AMRO (India) Corporate Finance and the Global Financial Market Teams. ABN AMRO Private Banking provides advisory and wealth management services to the bank's wealthy clients.
Traditionally known as a strong "diamond financing bank", it has turned into an institution providing a comprehensive range of services with a difference. ABN AMRO (India) has branches in Mumbai, Delhi, Chennai, Kolkata, Pune, Baroda, Hyderabad, Bangalore , Surat, Noida, Gurgaon, Panipat, Lucknow, Tirupur, Mangalore and Moradabad with each branch servicing multi-product relationships.