In 2001 Dutch finance and investment company ABN Amro bought a 50% share in Craigs, a Tauranga-based finance company. A European banking consortium, including the Royal Bank of Scotland (RBS), bought ABN Amro’s global operations in 2007, making RBS the owner of ABN Amro in New Zealand. In 2009, following months of financial difficulty, RBS exited New Zealand. Local employees bought RBS’s share; the company relinquished its banking licence – which it had held for 11 years – and it resumed trading as Craigs Investment Partners Ltd.
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