ABN Amro said to weigh sale of Asia private-banking business

ABN Amro HQ in Amsterdam. ABN Amro is the 18th largest private bank in Asia, with US19bil of assets under management in the region, according to a 2015 ranking by Asian Private Banker.- Reuters

SINGAPORE: ABN Amro Group NV, the state-controlled Dutch lender that returned to the stock market last year, is exploring a sale of its Asia private-banking business, people with knowledge of the matter said.

The bank is working with a financial adviser and has reached out to potential buyers to gauge their interest, according to the people. The deliberations are at an early stage, and there’s no certainty they will result in a deal, the people said, asking not to be identified as the information is private.