Nationalized Dutch lender ABN Amro is planning to shed up to 1,000 jobs in its retail banking arm by 2018, as it braces up for re-entering private ownership.
The bank, nationalized during the 2008 financial meltdown, is due to be sold in an initial public offering as early as 2015.
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It will also slash the number of branches in its retail unit and make investments worth about EUR150m ($186m) until 2018 for process digitization.
The bank issued a release saying, "We will also further concentrate the branch network and upgrade the branches, offering a broader range of services at each branch."
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