ABN Amro starts retail broking services

ABN Amro has now entered the retail brokering services and has launched their services under its arm ABN Amro Asia Equities.

This branch of the company offers institutional broking in India. Initially, this new service would be available in 15 cities around the country. The aim is to gain business from its existing 1.3 million strong client base.

Mr. Ramesh Sobti, Country Executive, ABN Amro India said in a statement on this new initiative: “This was one service missing from our suite of products. Retail business forms 60 per cent of our business in India, while commercial banking forms 40 per cent. We are likely to maintain this ratio, as retail is growing faster.”

ABN Amro also has plans to start a non-banking finance company. They are also looking to offer commodity trading through a separate subsidiary under ABN Amro Asia Equities.