ABN AMRO takes note of ruling on contribution to European resolution fund
- Investor Relations
Jordi van Baardewijk
Sr Press Officer Risk Management, Compliance, HR, I&T and Detecting Financial Crime
The General Court of the European Union today issued its ruling in proceedings between ABN AMRO and ABN AMRO Hypotheken Groep (AAHG) and the Single Resolution Board (SRB) regarding the calculation of contributions to the Single Resolution Fund (SRF). The General Court ruled partially in favour of ABN AMRO and AAHG. ABN AMRO had recognised the additional contribution of approximately €120 million as a receivable in connection with the proceedings. As a result of the ruling, part of this receivable will be repaid by the SRB. The resulting negative impact on profit after tax is approximately €33 million. This impact will be included in ABN AMRO’s Q3 2026 results.
Following the SRB’s decision in 2023, AAHG made an additional contribution of approximately €120 million under protest.
The proceedings concerned the calculation of AAHG’s SRF contribution for the period 2016-2023. The case centred on whether a specific accounting item relating to securitisations should be included in the calculation. In 2023, the SRB decided that this item should be included. ABN AMRO and AAHG argued that this would result in the underlying economic risk associated with the item being counted twice. ABN AMRO and AAHG therefore asked the General Court to rule on the matter.
The General Court ruled that the SRB was correct to include the item in the calculation, but that the additional contributions for the years 2016-2018 had been imposed by the SRB too late. The General Court annulled the SRB’s decision and ruled that the SRB must recalculate the contributions and pay ABN AMRO’s legal costs.
ABN AMRO supports the objectives of the SRF, the common resolution fund for banks within the European Banking Union. The proceedings did not concern whether ABN AMRO and AAHG should contribute to the SRF, but solely how their contribution should be calculated in relation to this specific item.
ABN AMRO will review the ruling.