Fleet News

Statement fuels speculation over LeasePlan sell-off

ABN AMRO has confirmed that its LeasePlan subsidiary is not core to its business, refuelling speculation that the bank will sell Europe's largest leasing and fleet management company.

Announcing the bank's second quarter results, ABN AMRO chairman Rijkman Groenink said ABN AMRO Lease Holding, the parent of LeasePlan, was 'not a core part of our business portfolio'.

He added that ABN AMRO was reviewing its options for the subsidiary, but stressed that ABN AMRO Lease Holding has been profitable and performed strongly in the first half of the year. In the second quarter of 2001, ABN AMRO Lease Holding increased its revenues to 193 million Euros, and boosted its operating profit 10.3% to 64 million Euros.

As a result, net profits for the first half of 2001 are 48.1% higher than for the same period of 2000.

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