AP

Dutch ABN AMRO bank apologizes for historic links to slavery

Apr 13, 2022, 8:45 AM | Updated: 9:23 am

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 day-to-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.”

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Protesters in Phoenix shout as they join thousands marching around the Arizona state Capitol after ...

Associated Press

Abortion ruling supercharges Arizona to be an especially important swing state

A ruling this week instituting a near-total abortion ban supercharged Arizona's role, turning it into the most critical battleground.

2 hours ago

Former President Donald Trump, center, appears in court for his arraignment, Tuesday, April 4, 2023...

Associated Press

Manhattan court searching for jurors to hear first-ever criminal case against a former president

Jury selection is set to start Monday in former President Donald Trump's hush money case — the first trial of the presumptive nominee.

3 hours ago

Emergency personnel arrive on the scene after a  an 18-wheeler crashed into the Texas Department of...

Associated Press

1 dead and 13 injured in semitrailer crash at a Texas public safety office, with the driver jailed

A driver rammed an 18-wheeler though the front of a building where his renewal for a commercial driver’s license had been rejected.

4 hours ago

Republican presidential candidate former President Donald Trump speaks at a Get Out The Vote rally ...

Associated Press

Trump pushes Arizona lawmakers to ‘remedy’ state abortion ruling that he says ‘went too far’

Donald Trump urged Arizona lawmakers on Friday to swiftly “remedy” the state court ruling allowing prosecutors to enforce an abortion ban.

6 hours ago

Biden to require more gun dealers to run background checks....

Associated Press

Biden administration will require thousands more gun dealers to run background checks on buyers

New Biden rule to require thousands more firearms dealers across the United States will have to run background checks on buyers.

1 day ago

Instagram blurring out nudity with new app tools....

Associated Press

Instagram blurring nudity in messages to protect teens from sexual extortion

Instagram says it’s deploying new tools to protect young people and combat sexual extortion by blurring nudity.

1 day ago

Sponsored Articles

...

COLLINS COMFORT MASTERS

Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

...

Day & Night Air Conditioning, Heating and Plumbing

Valley residents should be mindful of plumbing ahead of holidays

With Halloween in the rear-view and more holidays coming up, Day & Night recommends that Valley residents prepare accordingly.

Dutch ABN AMRO bank apologizes for historic links to slavery