Good operational quarter, high loan impairments, focus shift for CIB

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ABN AMRO delivered a good operational performance in the second quarter of 2020. Loan impairments were high again, however, as a result of an exceptional client file, Covid-19 and low oil prices. The bank-wide result for the quarter was a loss of 5 million euros – roughly break-even. The bank is well capitalised, so it is in a good position to absorb the impairments.

Over the past months we have reviewed Corporate & Institutional Banking (CIB) in response to ongoing loan losses and disappointing returns, especially on lending activities outside of Europe. CIB will focus on the Netherlands and Northwest Europe. Clearing will remain a global activity.

Read the full press release here.

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