The Royal Bank of Scotland-led consortium bidding for control of ABN Amro on Monday formally declared victory after shareholders representing 86 per cent of the Dutch bank’s shares accepted the group’s €70bn (£48bn) offer.

The level of acceptances clears the way for the consortium, which includes Santander of Spain and Fortis, the Belgo-Dutch group, to take formal control of ABN when its offer closes later this month.