Dutch Bank Apologizes For Past Involvement In Slave Trade
On Wednesday, ABN Amro, the third-largest Dutch bank, issued an apology for its predecessors’ role in the Atlantic slave trade during the 18th and 19th centuries.
The bank worked with the International Institute of Social History to investigate its two predecessors, Hope & Co. and Mees & Zoonen.
Researchers found Hope & Co.’s profits were inextricably linked to the slave trade.
Between a quarter and one-third of the company’s annual revenues in the latter half of the 18th century were from slavery.
As well, the investigation revealed Mees & Zoonen issued maritime insurances and more than half were related to shipments of slaves.
ABN Amro CEO Robert Swaak said the bank had a “proud history” going back more than 300 years, but acknowledged its darker side.
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