ABN AMRO adjusts compensation scheme for revolving consumer credit
Press release
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ABN AMRO is adjusting its compensation scheme for revolving consumer credit. Clients who qualify will now also receive compensation for compound interest (interest on interest). This was decided following a ruling by the Appeals Board of the Dutch financial services complaints authority (Kifid) on 10 August 2022.
ABN AMRO is increasing the related provision by around EUR 120 million, which will be charged to the third-quarter results for 2022.
Clients who have yet to receive their personal offer will receive a proposal that includes compound interest. Clients who have already accepted their personal offer and who qualify for an additional payment will be contacted automatically.