ABN AMRO reports net profit of EUR 725 million for Q3 2018
ABN AMRO reports net profit of EUR 725 million for Q3 2018
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Changes in the Supervisory Board
ABN AMRO announced today that Steven ten Have and Frederieke Leeflang have stated they will step down as members of ABN AMRO’s Supervisory Board next year, in order to allow for the appointment of Ms Anna Storåkers and Mr Michiel Lap, two intended new members with extensive experience in the financial sector. Anna Storåkers and Michiel Lap will be nominated for appointment to the Supervisory Board at the Annual General Meeting in April 2019 for a period of four years. Their appointment will be subject to regulatory approval.
Stress test confirms ABN AMRO’s resilient capital position
Today, the European Banking Authority (EBA) published the results of the 2018 EU-wide stress test for European banks, including ABN AMRO. The starting point for the stress test was a 17.53% CET1 ratio, adjusted for IFRS9, at year-end 2017. The stress test resulted in a CET1 capital ratio of 19.70% under the baseline scenario and a CET1 capital ratio of 14.85% under the adverse scenario, both at year-end 2020.
ABN AMRO Private Banking: various crypto coin applications have potential, but lack regulations
ABN AMRO Private Banking does not yet recognise crypto coins as a valid form of investment. It is also difficult to make a valuation of many crypto coins. Moreover, the ABN AMRO private bank argues that the lack of regulations, the fact that the technology is new and the fact that crypto coins are start-up business projects, presents an extremely high risk. In a new report, ABN AMRO Private Banking has identified four different types of crypto coins: crypto currency, network crypto, crypto security and utility crypto.
Pre-closing announcements
The third quarter 2018 results of ABN AMRO are expected to include several incidental items and a change in allocation of income.
Awareness of risk of cyberfraud among consumers, but lack of proper protection
Over the past year 8% of consumers in the Netherlands have fallen victim to cyberfraud. As many as 19% expect to become victims in the coming year. At the same time, three quarters of Dutch consumers believe that they are sufficiently aware of the risk of cyberfraud. A third of consumers believe that they understand the risks and have done all that they can to minimise them. Yet they barely do more than consumers who do not believe that they are protected. On average, Dutch consumers rate themselves 7 out of 10 for cybersecurity, while in fact they mostly find it to be a confusing issue. These are the results of a survey of over 1,000 Dutch consumers that GfK conducted for ABN AMRO.
ABN AMRO: ‘Housing shortage driving up prices even faster than previously thought’
The housing shortage is continuing to drive up prices. Last August the average price of existing housing was 9.3% higher than in the same period last year, prompting ABN AMRO’s Group Economics to raise its house price estimates for 2018.
Big data: not on the radar enough at Dutch SMEs
Over six in ten SMEs in the Netherlands say that big data is not relevant for their own company’s operations. At small enterprises – employing between 10 and 20 people – this percentage is a hefty 75 per cent while about half of companies employing between 20 and 250 people believe big data is irrelevant.
ABN AMRO again achieves high score for Dow Jones Sustainability Index
ABN AMRO is again one of the best performing banks on sustainability across the world. In RobecoSAM’s annual sustainability review of over 3,500 international companies, the bank scored 86 of the maximum 100 points, reducing the difference between ABN AMRO and the industry leader to a single point. RobecoSAM’s review informs the global Dow Jones Sustainability Index (DJSI) to be released at the beginning of 2019.
ABN AMRO Digital Impact Fund invests in CrossLend digital lending platform
ABN AMRO’s Digital Impact Fund (DIF) is teaming up with Earlybird and solarisBank to invest EUR 14 million in Germany’s CrossLend. The fund has also agreed a strategic partnership with this digital cross-border lending marketplace. The partnership should help improve access to international capital for Dutch companies.
ABN AMRO Bank N.V. announces the closing of the sale of ABN AMRO Bank (Luxembourg) s.a.
On 20 February 2018, BGL BNP Paribas and ABN AMRO Bank N.V. announced an agreement concerning the acquisition by BGL BNP Paribas of all outstanding shares in ABN AMRO Bank (Luxembourg) S.A. and its fully owned subsidiary ABN AMRO Life S.A.
ABN AMRO to help over-56s to cash out their home equity
Many people find themselves in a difficult position once they turn 56. They might not earn enough to buy a new home, for example, or they could have a large amount of equity tied up in their property. Starting this week, ABN AMRO will make it easier for them to take out a mortgage for a new home or to cash out their home equity. They can use that equity in a variety of ways: to supplement their income, for example, or to gift it to their children or grandchildren or refurbish their current home. The relaxed policy rules also extend to mortgage loans provided by ABN AMRO’s subsidiary Florius.
New ABN AMRO campaign highlights sustainable business
Today sees the launch of ABN AMRO’s new advertising campaign. Its aim is to better familiarise commercial markets with sustainable business models, as earnings can be expressed in money but also in more sustainable terms such as employment, social cohesion or the preservation of nature and the environment. The key thought is ‘Gains on all Fronts’ and the repeat hashtag is ‘Finance the Future’. The campaign’s main character Vincent ís portrayed by Mark Rietman, just like in the bank’s four previous campaigns. The new advertising campaign was developed by N=5 and will go out on television, radio, online and at Schiphol.
ABN AMRO reports net profit of EUR 688 million for Q2 2018
ABN AMRO reports net profit of EUR 688 million for Q2 2018
More than half of Dutch companies are working to improve sustainability, but often lack expertise and time
These findings were revealed by a survey that GfK carried out for ABN AMRO Commercial Banking among 349 Dutch companies. ABN AMRO supports the transition to a more sustainable economy, and hopes to improve its understanding of what the Dutch business sector is doing in terms of sustainability.