ANNEX I

The Nederlandsche Handel-Maatschappij (The Netherlands Trading Society)

The Nederlandsche Handel-Maatschappij (NHM) was a Dutch trading company and bank, and also a forerunner of ABN-AMRO.

The Nederlandsche Handel-Maatschappij was founded in 1824 by William I to foster trade between the Netherlands and the Dutch East Indies. Two years later, NHM opened an office in Batavia (Jakarta), and then another in Singapore. From 1870 onwards, the company added banking activities to its range of business. The following years were marked by international expansion. Bank branches were opened in Malaysia (1888), Hong Kong (1889), Bombay and in Calcutta to serve the diamond trade (1920). In 1926 NHM set up in Jeddah (Saudi Arabia), founding the first commercial bank in the kingdom, the Saudi Hollandi Bank. Branches were subsequently opened in New York (1941) and in Pakistan (1948), where NHM was the first foreign bank to receive a banking licence from the new post-independence government.

In 1949, NHM acquired De Surinaamsche Bank (Bank of Surinam), founded in 1864 on the initiative of the Nederlandsche Credit- en Deposito Bank (NCDB), which had a 20% shareholding. In 1960 the Indonesian government nationalised NHM s local businesses and set up a new bank, Bank Ekspor Impor Indonesia. Shortly afterwards NHM established its headquarters in Kuala Lumpur (Malaysia) and in 1964, merged with De Twentsche Bank to form Algemene Bank Nederland (ABN).

In Amsterdam, from 1972 on, the Banque de Paris et des Pays-Bas branch had a very close relationship with NHM. It participated in numerous financial deals initiated by NHM and a large number of the members of its Advisory Council were former presidents or managers of NHM.

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