Central and South America.
Other regions.
To streamline the services provided to Dutch
industry from the USA, a Dutch Desk was set
up at our New York branch. The use which is
being made of this facility proves that it is
meeting a very real need.
Viewed against the background of the economic
difficulties in this part of the world, where the
Bank operates largely under the name Banco
Holandés Unido, the results, while below the
level of the previous year, were satisfactory.
In Argentina and Ecuador, earnings increased
despite the economic situation. The ABN
finance companies in this region also reported
sound results, those achieved by Companhia
Aymoré de Credito, Investimentos e Financia-
mentos, a group company in Brazil, being
particularly satisfactory.
We are pleased to report that the governments of
these countries, in spite of their economic
difficulties, have not restricted the transfer of
profits.
The decline in economic activity in the Middle
East was reflected in lower gross profits by our
branches in the area and by our Saudi Arabian
ttBN LASALLE
North America, Inc.
AON Dank. Canada
In 1985 it was decided to merge the activities of ABN Bank
branches in the USA and Canada with those of ABN subsidiary
LaSalle National Bank. A new management company,
ABN/LaSalle North America Inc., has already been established,
with Homer J. Livingston Jr. (left) as President Chief
Executive Officer and H. J. Hielkema (right) as Chief General
Manager.
A new branch was opened in Quito, Ecuador.
The network of branches ofAlbank Alsaudi Alhollandi in Saudi
Arabia was expanded.
34
