ABN AMRO announces completion of the sale of its private banking activities in Asia and the Middle East
On 6 December 2016, ABN AMRO announced to have reached an agreement with LGT Group on the sale of ABN AMRO's private banking activities in Asia and the Middle East. The completion, subject to certain conditions, was foreseen in Q2 2017. These conditions have been met and as a result the sale was completed today.
The sale is expected to result in a book gain (after provisions and expenses) between USD 210 million (EUR 193 million) and USD 235 million (EUR 215 million) net of tax in Q2 2017.
