After a careful evaluation, taking into account the current market conditions, ABN AMRO said in a press release it has decided to retain ABN AMRO Lease Holding as part of the group. ABN AMRO Lease Holding is the ultimate parent company of LeasePlan USA. In the third quarter, Lease Holding’s net profit improved 4.9 percent to EUR 43 million compared to the second quarter of 2001. Compared to the first nine months of 2000, net profit showed an improvement of 60 percent to EUR 120 million in the first nine months of this year. Tom de Swaan, chairman of the Supervisory Board of ABN AMRO Lease Holding, said: “This robust performance shows the strong capability of ABN AMRO Lease Holding to create value, even under weak market conditions. The results of the first nine months of this year underline the successful integration of two large acquisitions of ABN AMRO Lease Holding in 2000.”

Originally posted on Fleet Financials