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ABN Amro invests in IT after 2,500 redundancies

By Tony Hallett

Published: 18 January 2000 16:04 GMT

ABN Amro Bank has announced it will lose 150 branches and 2,500 staff over the next five years, but claims it will continue to grow by investing in information and communications technology.

The Dutch company said European competition and the advent of Internet banking demand more efficient business processes.

Rijkman Groenink, head of ABN Amro's European Division, said the latest re-organisation is essential if the bank is to develop its multi-channel strategy.

The company also hinted it is looking at sharing its back-office functions with another European bank.

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