ABN AMRO Reports Excellent 1997 Half Year Figures.AMSTERDAM--(BUSINESS WIRE)--August 21, 1997--ABN AMRO AMRO Regional Office for the Americas (WHO, Washington DC) AMRO American Robin (species) AMRO Amsterdam-Rotterdam Bank (now ABN AMRO) AMRO Association Maladie de Rendu-Osler , (NYSE NYSE See: New York Stock Exchange :AAN AAN American Association of Neurology ) the leading global network bank based in the Netherlands Netherlands (nĕth`ərləndz), Du. Nederland or Koninkrijk der Nederlanden, officially Kingdom of the Netherlands, constitutional monarchy (2005 est. pop. 16,407,000), 15,963 sq mi (41,344 sq km), NW Europe. , today reported results for the half year to June June: see month. 30, 1997. Highlights - Net profit up 20.2% to NLG NLG The ISO 4217 currency code for the Dutch Guilder. 2,038 million - Earnings per share 18.3% higher at NLG 1.42 - Interim dividend raised by 17.8% to NLG 0.53 - Return on equity 17.0% - Net profit also expected to rise in the second half 1997
(in millions except per 1997 1st half 1996 1st half % change
share data) $** NLG NLG
Pre-tax profit 1,635 3,123 2,497 +25.1
Net profit 1,067 2,038 1,696 +20.2
Net profit attributable to 1,019 1,946 1,602 +21.5
ordinary shareholders
Earnings per share 0.74 1.42 1.20 +18.3
Interim dividend per ordinary 0.53 0.45 +17.8
share**
(in billions) June 30, 1997 Dec 31, 1996* % change
Total assets 409.6 782.3 599.3 +30.5
Shareholders equity 13.0 24.8 25.0 -0.5
Group capital 26.2 50 44.4 +13.9
Loans to private sector 219.2 418.6 315.5 +32.7
BIS-ratio 10.55% 10.89%
of which Tier I capital 6.77% 7.21%
* adjusted for comparative purposes
** US dollar figures are provided for reader convenience at the
average exchange rate for the period of $1=NLG 1.91. The dollar
amount of the ADR dividend will depend on exchange rates on date of
payment.
Major developments in the first half of 1997
Results improved strongly compared to the already excellent
figures for the first half of 1996, reflecting continued organic
growth and changes in average currency rates, particularly a stronger
U.S. dollar against the Dutch guilder. The composition of the banks
operations also changed as a result of the sale of MeesPierson, which
is included only in the banks 1996 results, and a number of
acquisitions, especially in the USA. The bank strengthened its
position in the midwestern United States by acquiring Standard
Federal Bancorp (a savings bank) and Chicago Corporation (an
investment bank). Both acquisitions have been consolidated as of
January 1, 1997. European acquisitions included the Magyar Hitel
Bank in Hungary (acquired at the end of 1996) and two small French
banks, Banque Demachy and Banque du Phenix, both of which were
acquired on June 30, 1997.
Total revenue increased 21.8% to NLG 11,359 million. Adjusted
for acquisitions, the sale of MeesPierson and higher average exchange
rates, the increase was 19.0%.
Net interest revenue rose 20.0% to NLG 6,702 million. The
International Division posted a very strong gain in net interest
revenue (+50.6% to NLG 3,714) reflecting the acquisitions of Standard
Federal Bancorp and Magyar Hitel Bank, higher average exchange rates
and organic growth, particularly in the US and Brazil. The Domestic
Division recorded an increase in net interest revenue of 9.0% as a
strong increase in average volumes offset a slightly lower interest
margin.
Revenue from securities and participating interests rose by NLG
98 million to NLG 238 million, partly as a result of the sale of a
number of minority interests.
Net commissions rose by NLG 506 million (+ 20.5%) to NLG 2,980
million. Nearly 50% of this increase was attributable to securities
commissions, which were up NLG 244 million (+18.3%) to
NLG1,577million. Adjusted for the deconsolidation of MeesPierson,
securities commissions were up 41.1%. This improvement reflected the
strong increase in brokerage fees, both in the Netherlands and
abroad, and the substantial growth in asset management fees. The
increase in payment commissions (+9.5% to NLG726 million) was
realized entirely by the International Division. In the Domestic
Division, payment commissions were comparable to those reported
during the first half of 1996.
Revenue from financial transactions increased by NLG 301 million
(+33.3%) to NLG 1,205 million. Adjusted for the deconsolidation of
MeesPierson, revenues from financial transactions increased 53.9%
reflecting a doubling of revenue from derivatives trading,
considerably higher results from the sale of participations and an
improvement of more than 20% in foreign exchange and securities
trading results.
Operating expenses (the total of staff costs, other
administrative expenses and depreciation) were up 23.7 % to NLG 7,586
million. Adjusted for acquisitions, the disposition of MeesPierson
and the changes in average exchange rates, operating expenses
increased 21.7%. The principal reasons for this increase were strong
organic growth, higher bonuses - primarily abroad - and provisions
for a number of specific items such as the introduction of the euro
and several automation projects. The total cost to the bank of the
introduction of the euro is estimated at NLG 500 million of which NLG
375 million is for the adaptation of computer systems. A provision
of NLG 65 million was made in the first half of 1997, bringing the
total provision to the required NLG 375 million. The implementation
of the euro-project has started.
As the increase in total operating expenses (+23.7% to NLG 7,586
million) was higher than the increase in total revenue (+21.8% to NLG
11,359 million), the bank's efficiency ratio deteriorated slightly in
the first half of 1997 to 66.8% compared with 65.7% during the same
period in 1996.
In the first half of 1996, the provision for loan losses,
including the allocation to the provision for general contingencies,
amounted to NLG 700 million. In the first half of 1997, the
provision for loan losses amounted to NLG 492 million while a pre-tax
amount of NLG 158 million was also added to the Fund for general
banking risks. Together, these two items add up to NLG 650 million.
The size of the Fund has increased by NLG 299 million from NLG 2,000
million at the end of 1996 to NLG 2,299 million as at June 30, 1997
(+15%). This increase is in line with the rise in the total risk
weighted assets and is the net result from the addition to the Fund
after taxes (+ NLG 103 million), currency translation differences
(+NLG121million) and the effects of acquisitions (+ NLG 75 million).
Pre-tax profit was 25.1 % higher at NLG 3,123 million. The positive
contribution from acquisitions and the deconsolidation of MeesPierson
amounted to NLG 71 million. In addition, higher average exchange
rates contributed NLG 133 million to pre-tax profit. The banks
international operations contributed almost half of total pre-tax
profits, compared to 49% for the first half of 1996.
The effective tax rate for the first half of 1997 increased to
31.0%, compared to 29.4% for the same period in 1996. The foreign
tax rate increased because EAB's tax loss carry forwards have been
fully utilized and a higher contribution from Brazil. In the
Netherlands, the effective tax rate decreased slightly, as a larger
percentage of domestic profits were subject to the participation
exemption.
Net profit improved by 20.2% to NLG 2 ,038 million. After taking
into account preference share and convertible preference share
dividends, profit attributable to ordinary shareholders was 21.5%
higher at NLG1,946million. The net contribution to profits from
acquisitions and the deconsolidation of MeesPierson was NLG 27
million. In addition, higher average exchange rates contributed
NLG89 million to net profit.
The average number of ordinary shares outstanding increased by
3.2% to 1,374 million. Taking this increase into account, earnings
per ordinary share were up 18.3% to NLG 1.42.
Balance sheet as at June 30, 1997, compared to the balance sheet
as at December 31, 1996
Consolidated total assets at June 30, 1997 were to NLG 782.3
billion, up NLG 183.0 billion or 30.5% from year-end 1996. This
increase is the combined result of organic growth (NLG 117.6 billion
or 18.7%), acquisitions (NLG 34.7 billion), and the net effect of
changes in exchange rates (NLG30.7billion). The US dollar/Dutch
guilder exchange rate rose from NLG 1.74 at year-end 1996, to NLG
1.97 at the end of June 1997.
Private sector loans increased NLG 103.1 billion or 32.7% to NLG
418.6 billion for the first half of 1997. Of this increase, NLG 44.3
billion relates to short-term advances against securities, primarily
outside of the Netherlands. Other private sector lending increased
by NLG 58.9 billion or 19.8% to NLG356.6billion, of which NLG10.2
billion were originated in the Netherlands (+6.5%) and NLG48.6billion
outside of the Netherlands (+34.6%). In the Netherlands, retail
lending showed a particularly strong increase (+10.3%) while
corporate lending grew by 3.3%. The strong growth abroad resulted
from higher loan volume (NLG 11.4 billion or 7.4%) primarily in the
US and Brazil, acquisitions (NLG 24.4 billion) and the translation
effect of higher exchange rates (NLG12.8billion).
In the first half of 1997, customer accounts increased by NLG
80.3 billion or 29.0% to NLG357.0billion. Of this increase NLG 7.2
billion (+4.6%) was realized in the Netherlands while NLG 73.1
billion (+61.1%) was realized abroad. Adjusted for acquisitions (NLG
25.9 billion) and the effect of higher exchange rates (NLG 11.0
billion), the increase in customer accounts abroad was 27.7%.
Group capital and regulatory capital
Group capital
(in NLG million and percentages) June 30, Dec 31, % change
1997 1996
Shareholders' equity 24,849 24,976 -0.5
Minority interests 4,244 2,105 +101.6
Group equity 29,093 27,081 +7.4
Fund for general banking risks 2,299 2,000 +15.0
Subordinated loans 19,189 15,309 +25.3
Group capital 50,581 44,390 +13.9
Number of ordinary shares 1,388.8 1,364.5 +1.8
outstanding (m)
Shareholders' equity per ordinary 16.45 16.79 -2.0
share (in NLG)
Return on shareholders' equity (in %) 17.0% 16.4%
Number of preference shares (m) 362.5 362.5
Number of convertible preference
shares (m) 3.0 4.0
Compared to year-end 1996, shareholders' equity declined by NLG
127 million to NLG 24,849 million. An increase of NLG 2,389 million
from retained profits, currency translation differences,
revaluations, exercise of staff options and the conversion of
convertible preference shares was offset by a substantial goodwill
write-off (NLG 2,516 million), which largely resulted from the
acquisition of Standard Federal Bancorp.
The increase in minority interests primarily resulted from the
issue of preference shares (U.S.dollar 975 million) by the banks US
subsidiaries and currency translation effects of a stronger U.S.
dollar.
Entitlement under staff option programs amounted to 18.2
million ordinary shares as at June 30, 1997, which is equivalent to
1.3% of the total number of ordinary shares outstanding.
Approximately 76% of these staff options were awarded to the bank's
staff in the Netherlands and 24% to senior management (approximately
100 persons in the Netherlands and abroad).
Regulatory capital and BIS ratios
--------------------------------------------------------------------
(in NLG billion and percentages) June 30, Dec 31, % change
1997 1996
Total BIS capital 47.7 42.4 +12.7
of which Tier I capital 30.6 28.1 +9.2
Risk weighted assets 452.6 389.3 +16.3
BIS-ratio 10.55% 10.89%
of which Tier I capital 6.77% 7.21%
--------------------------------------------------------------------
The increase in risk weighted assets (+16.3%) was largely
attributable to activities abroad. Adjusted for acquisitions and
changes in exchange rates, the increase in risk weighted asset
amounted to 7.0%. As a result of the goodwill write-off previously
described, the increase in Tier I capital was lower than the increase
in risk weighted assets.
Results by Division
ABN AMRO Bank, including its many subsidiaries, is divided into
three operating divisions: the Domestic Division, the International
Division and the IB&GC Division (Investment Banking & Global
Clients). The operating costs of the supporting divisions are
allocated to the three operating divisions. ABN AMRO Lease Holding
operates as an independent subsidiary of the bank.
Through 1996, the `provision for loan losses' related to specific
provisions for loan losses (including country risks) and pre-tax
provisions for general contingencies (VAR). For reporting purposes,
the overall `provision for loan losses' was subsequently allocated to
the divisions on the basis of the risk weighted assets. The interim
results for 1997 mark the introduction of a change in this respect.
As of June 30, 1997, the provision for loan losses relates only to
specific provisions for loan losses (including country risks), with
the actual amounts shown for each division. In light of the general
nature of the Fund for general banking risks, additions to the Fund
are not allocated to the divisions. Accordingly, the divisional
pre-tax operating results for the first half of 1997 are not directly
comparable to pre-tax operating results for the same period in 1996.
The same applies within the International Division for operating
results at regional level.
Domestic Division
--------------------------------------------------------------------
(in NLG million and percentages) 1997 1st 1996 1st % change
half half
Net interest revenue 2,571 2,358 +9.0
Net commissions 851 745 +14.2
Results from financial transactions 71 72 -1.4
Other revenue 56 56 unch.
Total revenue 3,549 3,231 +9.8
Operating expenses 2,411 2,293 +5.1
Provision for loan losses 175 228 -23.2
Pre-tax profits 963 710 +35.6
(in NLG billion and percentages) June 30, Dec 31, % change
1997 1996
Total assets 172 164 +4.9
Risk weighted assets 137 129 +6.2
Number of employees (FTE) 24,093 23,041
Number of branches 998 1,006
-------------------------------------------------------------------
Pre-tax profit increased by NLG 253 million or 35.6% to NLG 963
million. Before the provision for loan losses the increase in
pre-tax profit was 21.3%. The rise in total revenue (+9.8%) is the
result of a solid increase in interest and commission revenue. The
increase in interest revenue is the result of higher volumes which
offset a slight contraction of the interest margin. The higher
commission revenue is largely the result of a strong increase in
securities commissions. The banks insurance activities also have
grown strongly. Net premium income at the bank's life insurance
subsidiary rose by 72% to NLG406 million in the first half of 1997.
Operating expenses increased by 5.1% due to a small rise in staff
costs and a strong increase in other administrative expenses, largely
caused by automation costs.
International Division
--------------------------------------------------------------------
(in NLG million and percentages) 1997 1st 1996 1st % change
half half
Net interest revenue 3,714 2,466 +50.6
Net commissions 1,224 729 +67.9
Results from financial transactions 395 177 +123.2
Other revenue 139 93 +49.5
Total revenue 5,472 3,465 +57.9
Operating expenses 3,579 2,237 +60.0
Provision for loan losses 343 318 7.9
Pre-tax profits 1,550 910 +70.3
Pre-tax profit per region
Europe 274 139 +97.1
North America 817 498 +64.1
South and Central America 259 167 +55.1
Middle and Far East, Africa, Australia 200 106 +88.7
(in NLG billion and percentages) June 30, Dec 31, % change
1997 1996
Total assets 372 248 +50.0
Risk weighted assets 249 202 +23.3
Number of employees (FTE) 34,387 27.882
Number of branches 826 639
----------------------------------------------------------------------------
Pre-tax profit increased by NLG 640 million or 70.3% to NLG 1,550
million. Adjusted for the acquisitions of Standard Federal Bancorp
and Magyar Hitel Bank and higher exchange rates, pre-tax profits
increased 25.4%, while the increases in total revenue and total
operating expenses amounted to 27.2% and 30.4%, respectively.
The growth in interest revenue (+50.6%) was to a great extent
influenced by the acquisitions of Standard Federal Bancorp and Magyar
Hitel Bank and higher exchange rates. Commission revenues increased
strongly in part as a result of the acquisition of Chicago
Corporation. The markedly higher results from financial transactions
were caused by higher revenues from foreign currencies and securities
trading activities.
The 60% rise in operating expenses was made up of a 56.6%
increase in personnel expenses and a 62.5% increase in other
administrative expenses and depreciation. The number of employees
rose by 6,505, of which 5,600 was by virtue of acquisitions.
Within Europe, pre-tax profits increased by NLG 135 million (+
97.1%) to NLG 274 million. The largest increases occurred in France,
Switzerland, Luxembourg and Belgium, where results benefited from
favorable financial markets. Central and Eastern European operations
generated higher pre-tax profits, although Magyar Hitel Bank posted a
small loss as a result of substantial expenditures involved in
modernizing the bank.
In North America, pre-tax profits rose by NLG 319 million or
64.1% to NLG 817 million. A large part of this increase was due to
the acquisition of Standard Federal. The results of the LaSalle
Group, EAB and the US-based ABN AMRO branches experienced strong
growth while Chicago Corporation experienced a small loss as a result
of additional costs associated with the expansion of its business
activities. The results of the ABN AMRO branches in Canada and
Mexico were lower.
In South and Central America, pre-tax profit rose by NLG 92
million or 55.1% to NLG 259 million. Although the interest margin on
retail lending narrowed in Brazil, this was more than compensated for
by a doubling of lending volumes. Contrary to 1996, no provision was
made in the first half of 1997 for a devaluation of the Brazilian
Real. Other countries in the region also showed stronger results,
particularly Chile, Paraguay and Uruguay.
In the Middle and Far East, Africa and Australia pre-tax profits
rose by NLG 94 million 88.7% to NLG200 million. Substantially higher
interest revenue in Hong Kong, Thailand, Australia and India
contributed to markedly higher pre-tax profits.
IB&GC Division
--------------------------------------------------------------------
(in NLG million and percentages) 1997 1st 1996 1st % change
half half
Net interest revenue 244 317 -23.0
Net commissions 825 638 +29.3
Results from financial transactions 739 534 +38.4
Other revenue 132 72 +83.3
Total revenue 1,940 1,561 +24.3
Operating expenses 1,316 874 +50.6
Provision for loan losses -30 87 -134.5
Pre-tax profits 654 600 +9.0
(in NLG billion and percentages) June 30, Dec 31, % change
1997 1996
Total assets 226 176 +28.4
Risk weighted assets 56 48 +16.7
Number of employees (FTE) 5,960 5,487
Number of branches 62 60
--------------------------------------------------------------------
Pre-tax profit increased 9.0% to NLG 654 million, which was
entirely caused by the provision for loan losses being allocated to
the division on the basis of risk weighted assets in the first half
of 1996, while in the first half of 1997 the real provisions were
shown (release of country risk provisions). Pre-tax profits prior to
the provision for loan losses declined by 9.2% due to an increase in
the Netherlands and a fall abroad. The increase in commission
revenue was due to higher brokerage commissions and asset management
fees. The growth in results from financial transactions was
primarily due to higher revenue from the sale of participating
interests and derivatives trading. The marked increase in operating
expenses resulted from higher bonuses, an increase in head-count and
high automation expenses as a result of new activities. The
performance of the ABN AMRO Rothschild joint venture, which was
started in July 1996, exceeded expectations.
ABN AMRO Lease Holding
--------------------------------------------------------------------
(In NLG million and percentages) 1997 1st 1996 1st % change
half half
Total revenue 398 365 +9.0
Pre-tax profit 114 101 +12.9
--------------------------------------------------------------------
Pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta profit at ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Lease Holding increased by 12.9% to NLG 114 million. Both the results of car and equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
Dividend The Managing Board of ABN AMRO Holding N.V. has decided, following approval from the Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. , to declare TO DECLARE. To make known or publish. By tho constitution of the United States, congress have power to declare war. In this sense the word, declare, signifies, not merely to make it known that war exists, but also to make war and to carry it on. 4 Dall. 37; 1 Story, Const. Sec. a 1997 interim dividend of NLG 0.53, which is equal to half the fiscal year 1996 dividend (NLG 1.05). The 1997 interim dividend is 17.8% higher than the 1996 interim dividend (NLG 0.45). The interim dividend is payable wholly in cash or, at the shareholder's option, wholly in ordinary shares chargeable to the share premium account in a ratio to be determined. The ratio of the value of the stock dividend to that of the cash dividend will be determined on September September: see month. 12, 1997, after the close of trading on the AEX AEX See: Amsterdam Exchange Stock Exchange, on the basis of the average quotation QUOTATION, practice. The allegation of some authority or case, or passage of some law, in support of a position which it is desired to establish. 2. Quotations when properly made, assist the reader, but when misplaced, they are inconvenient. for that day. The value of the stock dividend will be virtually equal to that of the cash dividend. The new ordinary shares will qualify for the 1997 final dividend and for full dividends for subsequent financial years. The ordinary shares will be quoted ex-dividend Ex-Dividend The trading of shares when a declared dividend belongs to the seller rather than the buyer. Notes: A stock trades ex-dividend on or after the ex-dividend date (ex-date). from Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant , August 22, 1997. The period during which shareholders can decide between a cash or stock dividend runs from August 22, 1997 to September 12, 1997. The 1997 interim dividend will become payable on September 19, 1997. Outlook for second half of 1997 After the successful first half, we expect that, barring unforeseen circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , the second half net profit will also be up compared to the same period last year. Annexes 1. Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: profit and loss account for the first half of 1997 2. Consolidated balance sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. at June 30, 1997 3. Geographical ge·o·graph·ic also ge·o·graph·i·cal adj. 1. Of or relating to geography. 2. Concerning the topography of a specific region. ge analysis of total assets Geographical analysis of private sector loans Geographical analysis of customer accounts 4. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. before taxes per division Number of employees Based in The Netherlands, ABN AMRO is a leading international bank group with over $341 billion in assets, active in 68 countries with 63,000 employees worldwide. ABN AMRO is the sixth largest bank in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). and the largest foreign bank in the US, with The LaSalle Lasalle (ləsăl`) or Ville Lasalle (vēl), city (1991 pop. 73,804), S Que., Canada, SW of Montreal on the St. Lawrence River at the head of the Lachine Rapids. It is a suburb of Montreal. Group in
Chicago Chicago, city, United StatesChicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837. and European American A European American (Euro-American) is a person who resides in the United States and is either the descendant of European immigrants or from Europe him/herself.[1] Overall, as the largest group, European Americans have the lowest poverty rate [2] Bank in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of accounting for over $50 billion in assets. ABN AMRO shares trade in the US on the NYSE, ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. AAN, and are listed on the principal stock exchanges in Europe. The ordinary shares may be accessed on the Reuter Reu·ter , Baron Paul Julius von 1816-1899. German-born British journalist who founded (1848) Reuter's, one of the first international news agencies. Equities 2000 Service under the symbol AAH aah interj. Used to express pleasure, satisfaction, surprise, or great joy. intr.v. aahed, aah·ing, aahs To exclaim in pleasure, satisfaction, surprise, or great joy: .AS and on Quotron under the symbol AABN AABN Assault Amphibian Battalion (USMC) AABN Association for the Advancement of Being Nice (Israel) .EU. Additional information is available on ABN ABN Advance beneficiary notice, see there AMRO's home page: http://www.abnamro.nl. For tabular tab·u·lar adj. 1. Having a plane surface; flat. 2. Organized as a table or list. 3. Calculated by means of a table. tabular resembling a table. information please call Taylor Taylor, city (1990 pop. 70,811), Wayne co., SE Mich., a suburb of Detroit adjacent to Dearborn; founded 1847 as a township, inc. as a city 1968. A small rural village until World War II, it developed significantly in the second half of the 20th cent. Rafferty Rafferty or Rafferty's rules Noun, pl Austral & NZ slang no rules at all [origin unknown] , 212/889-4350. CONTACT: Frans Frans is a common first name, the Dutch version of Francis in English or Franz in German: Frans may refer to:
ABN AMRO 011-31-20-628-4182 - or - Jeff Zelkowitz Taylor Rafferty Associates 212-889-4350 |
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