Europe.
North America.
As part of our constant search for new
opportunities for expansion, we shall avail our
selves of the recent change in banking laws in
Sweden and seek to establish a base there.
As the table on page 64 shows, gross earnings
from our European network, to which our
French affiliate, Banque de Neuflize,
Schlumberger, Mallet, and Algemene Bank
Nederland (Schweiz) make a major contribution,
rose significantly in 1985. The countries which
were mainly responsible for the improvement
included the United Kingdom, Ireland and
Turkey. The Copenhagen branch, in the third
year of its existence, also contributed to the
result. The improvement of the gross result was
achieved in spite of the continued difficulties in
the shipping and diamond sectors.
LaSalle National Bank, a group company, had
an excellent year, as did the ABN branches in
the USA.
In New York new premises, on Madison
Avenue, were occupied during the year, at
and a group company, LaSalle National Bank in
Chicago. Since 1 January 1986, we have also
our own securities office in New York, ABN
International Capital Markets Corporation,
which acts as intermediary for the purchase or
sale of securities on the Amsterdam Stock
Exchange.
In the course of 1985 it was decided that our
North American operations should, within the
legal constraints, be integrated. Our activities in
this market are now managed by a newly
established company, ABN/LaSalle North
America Inc., with its registered office in
Chicago. We shall in future operate in the
United States under the name ABN/LaSalle.
This company is expected to open a branch in
Boston in the near future.
which the activities of our downtown and mid-
town branches were brought together. The ABN
therefore now has in the USA nine branches
33
247 establishments in 44 countries - shortly to be joined not only
by a branch in the Swedish capital, Stockholm (seen here), but
also by one in Boston, Mass.
New premises in New York.
