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Caribbean Life, April 21-27, 2022
The logo of the state-owned ABN-AMRO bank sits on its head office in Amsterdam,
Netherlands, Jan. 9, 2014. Dutch bank ABN AMRO apologized Wednesday,
April 13, 2022 for historic links to the slave trade in the 18th and 19th centuries
including the involvement of one of the bank’s predecessor institutions in Òdayto
day businessÓ of plantations. Associated Press/Peter Dejong/File
Dutch ABN AMRO bank
apologizes for historic
links to slavery
By Associated Press
THE HAGUE, Netherlands (AP) — Dutch
bank ABN AMRO apologized Wednesday
for historic links to the slave trade in the
18th and 19th centuries, including the
involvement of one of the bank’s predecessor
institutions in “day-to-day business” of
plantations.
The bank is the latest institution to
apologize for historic ties to slavery, following
the Bank of England in 2020 and
the municipality of Amsterdam last year
amid a global Black Lives Matter reckoning
over the police killing of George Floyd
in Minneapolis.
ABN AMRO said in a statement that
research it commissioned into its history
and that of other banks that were its direct
predecessors uncovered a dark side.
The bank said the research revealed
that “ABN AMRO’s predecessor Hope &
Co. played a pivotal role in the international
slave economy of the 18th century.
Not only were slavery-related operations a
source of much of Hope & Co.’s profits, the
firm was also actively involved in the dayto
day business of plantations.”
The plantations were in the Caribbean
on Dutch colonies and other islands.
Another bank that went on to become
part of ABN AMRO, Mees en Zoonen,
“brokered insurance for slave ships and
shipments of goods harvested by enslaved
persons,” the bank said.
ABN AMRO CEO Robert Swaak said the
bank has a proud history, but “we must
also recognize that it has a darker side as
well.”
He said ABN AMRO “apologizes for the
past actions and activities of these predecessors
and for the pain and suffering that
they caused.”
Lead researcher Pepijn Brandon of the
International Institute of Social History
that documented the history said it
revealed “slavery-related operations formed
a core part” off the business of Hope & Co.,
which was the largest financial and commercial
company in the Netherlands at the
end of the 18th century.
ABN AMRO said it had discussed the findings
with representatives of the descendants
of enslaved people, who said they want
to see “concrete measures to help improve
the structural social disadvantages facing
descendants of enslaved persons.”
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