What price ABN Amro

An amusing email I received today:

Just more than 1 year ago Royal Bank of Scotland (RBS) paid $100bn for ABN Amro (80% cash).

For this amount, RBS could today buy:
Citibank $22.5bn,
Morgan Stanley $10.5bn,
Goldman Sachs $21.0bn,
Merrill Lynch $12.3bn,
Deutsche Bank $13.0bn and
Barclays $12.7bn,

And still have $8bn change!!!
 
An amusing email I received today:

Those were prices at the bottom sometimes ago and are higher now (like citigroup at 42 bil$ GS at 18 bil$ and Deutsche bank at 18 bil$ etc.).
What really make me think is the comparison with australian big bank and how much they still got to fall, this is how they capitalise now in US$:
ANZ: 19 bil US$, NAB: 23.5 bil US$, CBA 27.52 bil $, WBC: 28.5 bil $
Do you remember when westpac bought ST. George just over 6 months ago?
they valued St. Geroge at around 18 bil US$ at that time. I would have rather buy Barclays or Deutsche bank and keep bit of change
 
Its even more amusing when you read it as an RBS employee :rolleyes:
We were having a laugh about it at work the other day when our new ceo was asked about pay rises and bonuses and basically said... "This year we will be paying wages and be gateful you have jobs in the current climate"

Not his exact words but you get the jist. Not inspiring times when your masss sent a 2nd email fully explaining the redudancy process in depth.

Intresting times ahead, basically its hold onto your hats around here as EVERYONE makes massive jobs cuts in London.

Glad to be heading back to aus in 2 weeks, as anecedotally are quite a few other aussies who were made redundant.

alexgsz
 
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