RBS says no impact on ABN plans from Fortis bailout

LONDON (Reuters) - Royal Bank of Scotland (RBS.L) said its cost savings and revenue benefit targets from its purchase of ABN AMRO assets would be unaffected by the nationalization of the Dutch banking activities of Fortis (FOR.AS).

The Dutch government said it was nationalizing part of Fortis (FOR.BR), including its interest in ABN AMRO, due to an acute cash crunch at the troubled Belgian-dutch bank.

RBS, Fortis and Spain's Santander (SAN.MC) bought ABN last year. RBS said Fortis has already paid for its stake in RFS Holdings, the vehicle that bought ABN and holds the businesses not yet taken by the consortium partners, so the Dutch government would take those assets and the nationalization would have no impact on the other consortium partners.

(Reporting by Steve Slater, editing by Tim Dobbyn)