FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
September 17, 2007
Commission
File Number: 001-14624
ABN
AMRO
HOLDING N.V.
(Translation
of registrant’s name into English)
Gustav
Mahlerlaan 10
1082
PP
Amsterdam
The
Netherlands
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports
under
cover of Form 20-F or Form 40-F.
| Form 20-F X | Form 40-F |
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(7): X
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| Yes | No X |
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- _____
Amsterdam,
17 September
2007
ABN
AMRO announces updated outlook for
the full year 2007 in connection with the Extraordinary General Meeting of
Shareholders on 20 September
ABN
AMRO today announces an update on
the expected earnings for the year 2007 and our capital
ratios.
Based
on the results as per August
year-to-date, we are on track to deliver an earnings per share (EPS) of
approximately EUR 2.30 on an adjusted basis*, notwithstanding the impact
of the
current turmoil in financial markets on our Global Markets results
and continued
disappointing performance of Antonveneta.
Due
to slightly higher demand for
capital from our businesses, our capital ratios may be marginally below our
target ratios at the end of the third quarter. We do expect to meet our capital ratio
targets, a core tier
1 ratio of 6% and a tier 1 ratio of 8%, by year end 2007 under a normal course
of business and following through on our commitment to strict capital
discipline.
We
are pleased to report that current
market circumstances have
not resulted in a revision of our loan loss provision forecast. In line with
previous statements we expect the loan loss provisioning for our consumer
portfolio to increase with the growth of the portfolio and to see somewhat
higher levels of provisioning
in the commercial portfolio
due to the absence of write-backs and releases. ABN AMRO has a very limited
exposure to the subprime segment.
ABN
AMRO’s
overall liquidity position remains
strong. For clarification purposes: ABN AMRO manages several asset-backed commercial
paper (ABCP)
conduits, which are diversified in terms of geographical and asset coverage
and
the maturities of the ABCP are well spread over time. The actual outstanding
ABCP as per 13 September 2007 is EUR 51.5 bln, of which EUR 29.4
bln is in multi-seller conduits. All
major conduits have been rolled over in the past weeks without any difficulty
due to the underlying quality of the assets. It is noteworthy that up to
50% of
the main multi-seller conduits can self-liquidate within a
3 month period. Retail savings remain
stable. As part of our standard liquidity management process, ABN AMRO maintains
a very substantial liquidity buffer to meet all contingent liquidity needs.
We
continue to monitor market developments, and remain comfortable
with our liquidity
position.
*
For further details of the adjustments
we refer to the first half 2007 results press release of 30 July
2007
| Press contact: | +31 20 6288900 | |
| IR contact: | +31 20 6287835 | |
The
information contained in this report is incorporated by reference into
the
registration statements on Form S-8 with Registration Nos. 333-81400, 333-84044,
333-128621, 333-128619, 333-127660 and 333-74703, and the registration
statements on Form F-3 with Registration Nos. 333-137691 and
333-104778.
This
document shall not constitute an
offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any sale
of
securities, in any jurisdiction in which such offer, solicitation or sale
would
be unlawful prior to registration or qualification under the securities laws
of
any such
jurisdiction.
Cautionary
statement regarding
forward-looking statements
This
announcement contains
forward-looking statements. Forward-looking statements are statements that
are
not historical facts, including statements about our beliefs and
expectations. Any statement
in this announcement that expresses or implies our intentions, beliefs,
expectations or predictions (and the assumptions underlying them) is a
forward-looking statement. These statements are based on plans, estimates
and
projections, as they
are currently available to the
management of ABN AMRO Holding N.V. (“ABN AMRO”).
Forward-looking statements therefore
speak only as of the date they are made, and we take no obligation to update
publicly any of them in light of new information or future
events.
Forward-looking
statements involve
inherent risks and uncertainties. A number of important factors could therefore
cause actual future results to differ materially from those expressed or
implied
in any forward looking statement. Such factors include, without limitation,
the outcome
of the offers for our business by Barclays PLC (“Barclays”)
and the consortium of Banco Santander
Central Hispano, S.A., Fortis SA/NV and the Royal Bank of Scotland Group
plc
(“RBS”
and collectively, the “Consortium”);
the completion of our proposed
disposition of LaSalle; the conditions in the financial markets in Europe,
the
United States, Brazil and elsewhere from which we derive a substantial portion
of our trading revenues; potential defaults of borrowers or trading
counterparties; the implementation
of our restructuring including the envisaged reduction in headcount; the
reliability of our risk management policies, procedures and methods; the
outcome
of ongoing criminal investigations and other regulatory initiatives
related to compliance matters in
the United States and the nature and severity of any sanctions imposed; and
other risks referenced in our filings with the US Securities and Exchange
Commission (the “SEC”).
For more information on these and
other factors,
please refer to Part I: Item 3.D
“Risk Factors”
in our Annual Report on Form 20-F filed
with the SEC and to any subsequent reports furnished or filed by us with
the
SEC. The forward-looking statements contained in this announcement are made
as
of the date
hereof, and the companies assume no
obligation to update any of the forward-looking statements contained in this
announcement.
Additional
Information
Barclays
has filed
with the SEC a Registration Statement on Form F-4, which contains a prospectus,
and a Tender Offer Statement on Schedule TO. RBS has filed with the SEC a
Registration Statement on Form F-4, which contains a prospectus, and RFS
Holdings B.V., Fortis N.V., Fortis SA/NV, Fortis Nederland (Holding) N.V.,
RBS,
Banco Santander Central Hispano, S.A.. and Santander Holanda B.V. have filed
with the SEC a Tender Offer Statement on Schedule TO. ABN AMRO has filed
with
the SEC Solicitation/Recommendation Statements on Schedule 14D-9 in respect
of
the offer by each of Barclays and the Consortium.
INVESTORS
ARE URGED
TO READ ANY DOCUMENTS REGARDING THE POTENTIAL TRANSACTIONS IF AND WHEN THEY
BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors
may obtain
a free copy of such filings without charge at the SEC's website
(http://www.sec.gov). Copies of the prospectus contained in the Barclays
Form
F-4 may also be obtained, without charge, from Barclays and copies of the
prospectus contained in the RBS Form F-4 may also be obtained, without charge,
from RBS.
The
publication and distribution of this document and any separate documentation
regarding the intended offer, the making of the intended offer and the issuance
and offering of Barclays and RBS ordinary shares may, in some jurisdictions,
be
restricted by law. This document is not being published and the intended
offer
is not being made, directly or indirectly, in or into any jurisdiction in
which
the publication of this announcement and the making of the intended offer
would
not be in compliance with the laws of that jurisdiction. Persons who come
into
possession of this announcement should inform themselves of and observe any
of
these restrictions. Any failure to comply with these restrictions may constitute
a violation of the securities laws of that jurisdiction.
2
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has
duly caused this report to be signed on its behalf by the undersigned,
thereunto
duly authorized.
| ABN AMRO HOLDING N.V. | |||
| Date: September 17, 2007 | By: | /s/ Dies Donker | |
| Name: | Dies Donker | ||
| Title: |
Head
of Investor Relations
|
||
| By: | /s/ Willem Nagtglas Versteeg | ||
| Name: |
Willem
Nagtglas Versteeg
|
||
| Title: |
Company
Secretary
|
||