It’s been a good week for reminiscing about the 2008 global financial crisis.
On Thursday, UK regulators published their report into the failure of HBOS, which cost the taxpayer around £20 billion as part of a bailout and forced merger with Lloyds in 2009. Former HBOS senior executives may still face censure for their role in the collapse.
And on Friday morning, the Dutch government listed shares of ABN Amro, the bank that helped hasten the collapse of Royal Bank of Scotland, on the market, raising about €4 billion (£2.8 billion).
The IPO is going well and shares in the bank opened up 2.4% at €18.36 from an initial price of €17.75.
Here’s the chart:
RBS acquired the investment banking activities of ABN Amro in a €71 billion hostile bid in 2007. In 2008, the Dutsch banking arm was saved from failure through a €25 billion capital injection from the Dutch government and merger with Fortis.
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