Jean-Paul Votron, the chief executive officer of Fortis NV, one of three banking companies jointly bidding for ABN Amro Holding NV, said his company will not make a higher offer.
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Last month Fortis, Royal Bank of Scotland Group PLC, and Banco Santander Central Hispano SA offered to buy ABN Amro for $95 billion. Fortis' share of the bid was about $32 billion. The group is vying with Barclays PLC to buy ABN Amro.
Fortis is seeking ABN Amro's Dutch retail and commercial banking arm and its asset management and private banking units.
"We think that this price represents a good price and reflects the value of ABN Amro's assets," Mr. Votron said. "I cannot speak for my allies, but I think it is difficult to make a better offer than ours."
