Dutch state-owned bank ABN AMRO has
moved its Middle East private banking business to the Dubai
International Financial Centre (DIFC).

ABN AMRO rekindled its position as a major
private banking player in late 2008, after the Dutch government
revived it as a   Dutch financial services brand.

ABN AMRO private banking operates in 12
countries across Europe, Asia and the Middle East, managing €120bn
($161bn) of assets worldwide.

In the Middle East and Asia, the bank focuses
its strengths through a presence in three international markets –
the United Arab Emirates, Singapore and Hong Kong.

ABN AMRO head of Middle East private banking
Hassan El-Nahas said the move to the DIFC renewed its commitment to
the Middle East.

“We believe our future to be dynamic with plenty of
opportunities for growth,” he said.