ABN Amro Forecasts Losses Till 2011

The state-owned ABN Amro Bank NV said Friday that 2010 will be another loss-making year because of costs related to its merger with Fortis Bank Netherlands, which is also state-owned, but that it expects the new bank to be profitable again in 2011. ABN Amro's merger with Fortis Bank Netherlands, which will become official next month, will involve more than 1 billion euros ($1.34 billion) in integration costs and thousands of job cuts.