ABN Amro on Monday indicated its continued support for a take-over bid by Barclays, even after the Dutch bank formally withdrew its recommendation for the agreed deal.

Rijkman Groenink, chief executive, said it would have “looked a bit silly” for the bank to continue recommending Barclays’ bid, which is currently worth about €34.60 a share – substantially below a €38.10-a-share break-up bid from a consortium led by Royal Bank of Scotland.