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Last Updated: Thursday, 28 December 2006, 22:25 GMT
ABN cuts 900 North American jobs
ABN Amro
The US banking market is becoming more competitive
ABN Amro, the Netherlands' biggest bank, has said it plans to cut 900 jobs from its North American operations.

The reduction is about 5% of ABN Amro's US workforce and comes after the lender reported its first drop in quarterly profits in almost five years.

ABN Amro will cut the jobs from its Chicago-based LaSalle Bank operations.

Over the past few years, ABN has been cutting jobs to control costs so that it can expand its business into new markets and face down more competition.

"Competition is tough," said ABN Amro spokesman Shawn Platt, adding that job cuts were "part of an effort for us to focus".

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