ABN Amro to target eurozone assets

London: ABN Amro, has promised to be a buyer of euro zone financial assets that capital-stretched banks are preparing to sell, the Financial Times reported on Monday.

In an interview with the newspaper, Gerrit Zalm, chief executive of the nationalised Dutch bank, said he had "spoken to almost all" of the bank's European rivals about the idea.

"We are very well capitalised and we're not in a position to have to shrink our balance sheet. We are certainly interested in taking over portfolios," he said.

The plan for portfolio acquisitions is part of a project by ABN, which had all but disappeared as a brand outside its home market, to rebuild its identity as an international bank, according to the FT.

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Zalm told that ABN's growth, including its foreign build-up, would be sharply focused in niche areas of strength.

"This time we are extremely focused. We only want to do international activities in areas where we think that we can beat the top banks in the world," he said.

Officials with ABN could not be reached for comment outside of office hours.

Reuters