ABN AMRO named Best retail bank in the Netherlands by Euromoney
ABN AMRO has been named the Netherlands’ Best Retail Bank by the international financial platform Euromoney. The award was presented during the Euromoney Awards for Excellence 2026 and recognises ABN AMRO’s ongoing efforts to make banking accessible, personal and relevant for millions of clients in the Netherlands, as well as for a younger generation through our new neo-bank BUUT.
According to the jury, ABN AMRO shows how an established bank can continue to innovate successfully by responding to changing client needs and engaging new target groups. The launch of BUUT is a strong example of this. With a social media-style newsfeed, financial education and digital savings pots, BUUT connects with the daily lives and financial needs of a new generation of clients. The jury also praised ABN AMRO’s strong results, including growth in its mortgage portfolio, a larger market share in savings, and the further expansion of its services through, among others, BUX and the planned acquisition of NIBC.
Annerie Vreugdenhil, Chief Commercial Officer Personal & Business Banking:
“This recognition shows that banking is about more than products and technology. In the end, it is about trust: understanding what clients need at important moments in their lives and continuously improving our services so they meet expectations at every age and life stage, while also keeping pace with developments in society. We are grateful to our clients for the trust they place in us.”
ABN AMRO Sustainable Impact Fund exits OG Clean Fuels
ABN AMRO Sustainable Impact Fund (“ABN AMRO SIF”) has exited OG Clean Fuels (“OG”) to Pioneer Point Partners (“Pioneer”). By onboarding Pioneer as a new shareholder, OG can now accelerate its growth plans to further decarbonise the heavy-duty vehicle transport sector. The sale will result in a book gain for ABN AMRO.
Bridging the “missing middle”
In line with ABN AMRO’s climate strategy, ABN AMRO SIF aims to invest growth equity in high-growth sustainable companies in a relatively early phase. This phase is often referred to as the ‘missing middle’, a critical funding gap before infrastructure capital backs large-scale deployment, presenting both a barrier for decarbonisation as well as an investment opportunity.
By onboarding Pioneer as a new shareholder, OG will be able capture further growth and create more sustainable impact. Pioneer’s vision over the next five years is for OG to invest over € 150 million to continue the company’s journey to becoming a multi-fuel decarbonisation solutions provider for large logistics and transport companies as well as heavy goods fleet operators.
Accelerating clean mobility in Europe
Founded in 2008, OG started as a supplier of biomethane (“bio-CNG”) for passenger cars and vans in the Netherlands. Over time, OG’s strategy has evolved to target the heavy duty vehicles market, including providing on-depot filling stations with volumes secured under long-term offtake contracts. OG currently operates and has under construction nearly 30 on-depot stations that provide bio-CNG refuelling for heavy goods vehicles, with customers including DHL and EDEKA in Germany and major bus companies in Sweden.
OG currently has more than 300 filling station locations that offer bio-CNG, bio-LNG, electric vehicle charging, hydrogen and liquid biofuels across Germany, the Netherlands, Sweden and Italy. OG purchases biomethane, green power and green hydrogen and sells these clean fuels to road transport users.
“Our journey with OG Clean Fuels began with the ambition to establish a leading player in Northwest Europe. Not only has the company achieved this goal, it has also intensified its focus on the heavy-duty vehicle segment, where it can have the greatest impact,” said Thijs Nijland of ABN AMRO Sustainable Impact Fund. ”
ABN AMRO Sustainable Impact Fund supporting international growth
In 2018, the ABN AMRO Sustainable Impact Fund became majority shareholder in OG alongside OG’s management and Meewind, supporting the company’s expansion and international growth. With SIF’s support and substantial growth capital investments, the company has successfully executed strategic acquisitions and expanded organically. During SIF’s investment period, OG experienced impressive growth. Its organisation grew from a Dutch operation with around 14 FTEs to an international and highly profitable company with about 70 FTEs.
Marcel Borger, CEO and Founder of OG Clean Fuels, remarked: “ABN AMRO SIF’s entry in December 2018 marked the beginning of OG Clean Fuels’ accelerated growth across Europe, driving positive impact on clean mobility. Through this collaboration, we have become a leading player in the clean fuels sector. Over the past six years, ABN AMRO SIF has been a true partner, standing alongside us and prioritising the company’s interests. Their support has played a key role in our expansion beyond the Netherlands into Germany, Sweden and Italy.”
Jefferies acted as exclusive financial adviser to OG Clean Fuels, ABN AMRO Sustainable Impact Fund and Meewind.
ABN AMRO starts ‘Pay Later’ pilot for business clients
ABN AMRO is launching a pilot called Achteraf Betalen (‘Pay Later’) for business clients. Merchants can use this feature to let their business clients pay by way of online invoices, quickly and easily, without the risk of non-payment.
Under the ‘Pay Later’ feature, ABN AMRO guarantees payment and also takes over the merchants debtor management. ‘Pay Later’ has been developed in collaboration with Two, a B2B tech company that provides payment solutions.
Research by the 2022 Market Monitor shows that 90% of companies (n=2,032) place online orders but are looking for assurance about the delivered goods. The obligation to pay in advance is considered a nuisance (10%). There are also doubts about the reliability of the merchant (9%). With ‘Pay Later’, buyers can settle their bills after receiving the goods, with a payment term of 30 days.
Carsten Bittner, ABN AMRO’s Chief Technology Officer: “With ‘Pay Later’ we are pioneering a new era of Embedded Finance by increasing trust and flexibility in online B2B transactions. This launch underscores our commitment to innovation and our dedication to providing solutions that align with our customers’ evolving needs.”
ABN Amro: Πτώση κερδών στο γ΄ τρίμηνο, αλλά άνω των εκτιμήσεων των αναλυτών
Πτώση κερδών κατέγραψε η ABN Amro για το γ’ τρίμηνο του έτους, με την ολλανδική τράπεζα πάντως να ξεπερνά τις μέσες εκτιμήσεις των αναλυτών, όπως μεταδίδουν ξένα ειδησεογραφικά πρακτορεία.
Ειδικότερα, η ABN Amro ανακοίνωσε ότι τα κέρδη υποχώρησαν 9% από την αντίστοιχη περυσινή περίοδο στα 690 εκατ. ευρώ, ξεπερνώντας με ευκολία τις μέσες εκτιμήσεις των αναλυτών που τοποθετούσαν τα κέρδη της στα 528 εκατ. ευρώ.
Τα καθαρά έσοδα από τόκους για την περίοδο αυξήθηκαν 7% στα 1,64 δισ. ευρώ.
Η τράπεζα ανακοίνωσε ταυτόχρονα ότι περιμένει τα καθαρά έσοδα από τόκους στο σύνολο του έτους να είναι πάνω από 6,4 δισ. ευρώ, ξεπερνώντας ελαφρώς την προηγούμενη πρόβλεψη της.
Ο δείκτης κεφαλαίου CET1 διαμορφώθηκε στο 14,1% ξεπερνώντας την εκτίμηση των αναλυτών που τοποθετούσαν τον δείκτη στο 13,9%.
ABN AMRO – ODDO BHF Best Benelux Broker for third year in a row
ABN AMRO – ODDO BHF is proud to have been named Best Benelux Broker in the 2024 European Ranking for the third year in a row. Apart from the accreditation for Best Benelux Broker overall, ABN AMRO – ODDO BHF also won the number one position in all four subcategories: Research, Sales, Trading & Execution and Corporate Access.
The individual prizes within the category Research category went to: Cor Kluis (1st place), Martijn den Drijver (3rd place), Konrad Zomer (5th place) and Thijs Berkelder (9th place). In the Sales category: Johan van der Veen (3rd place), and Anne Van Lie Peters (6th place) and Bram Fiselier (7th place) won prizes.
Wim Gille, Head of Research at ABN AMRO – ODDO BHF: “We are again very proud of this result. For the third time in a row, our clients selected us as the Best Benelux Broker. Next to our number 1 position in the Benelux market, our partner ODDO BHF has also been selected as number 1 in France, number 2 in Germany, number 2 in Austria and number 6 in Iberia We want to thank our institutional and corporate clients for the trust they have placed in us.”
In 2021, ABN AMRO and ODDO BHF entered into a strategic partnership to combine their equity brokerage services in Benelux. The joint venture has a Benelux focus and is located at ABN AMRO’s head office in Amsterdam. The partnership was formed with the aim of enhancing the equity capital markets, corporate broking and equity brokerage services for both corporate and institutional clients, creating a broader range of high-quality equity research of close to 700 stocks and an extended distribution network of more than 700 institutional clients in Europe and the United States.
ABN AMRO convenes extraordinary general meeting to introduce new CRO
Today, ABN AMRO Bank N.V. (ABN AMRO) has published the convocation and meeting materials for an Extraordinary General Meeting (EGM) to be held in Amsterdam on 23 September 2024. The materials, including the agenda and explanatory notes, are available on the ABN AMRO corporate website.
In the Extraordinary General Meeting, Serena Fioravanti will introduce herself as proposed member of the Executive Board and Chief Risk Officer (CRO).
The proposed appointment of Serena Fioravanti was announced on 7 August 2024 and is subject to the approval of the European Central Bank. The appointment will be for a period of four years until the Annual General Meeting of 2029.
The EGM will be held at ABN AMRO’s head office, Gustav Mahlerlaan 10, 1082 PP Amsterdam, and will start at 16:00 hours. This EGM will be held as a physical meeting, a livestream will be available to follow the proceedings.
The materials for the EGM can be found here.
House prices expected to rise by 7.5 percent in 2024 and by 5 percent in 2025
Wage increases and gradual decline in mortgage interest rates are boosting sentiment
House prices and transactions are rising faster than expected
New coalition government follows course set by previous cabinet, but detailed plans are lacking
Sentiment in the housing market improves for third consecutive quarter
The sentiment in the housing market improved again in the second quarter of 2024 due to declining mortgage interest rates and rising wages, boosting confidence among homebuyers. With the outlook for the housing market improving for the third consecutive quarter, ABN AMRO has revised its price forecast upwards in the latest edition of the Housing Market Monitor: from +6 to +7.5 percent in 2024, while maintaining its forecast for 2025 (+5 percent). At the same time, the bank emphasises that although confidence has grown, housing affordability remains an issue. The declining mortgage interest rates are driving house prices up, reaching record highs in recent months and completely wiping out the price drop of 2023.
Unexpectedly high increase in the number of transactions (+10 percent)
As the housing market picks up, the number of transactions is also rising. In the first five months of 2024, nearly 78,000 existing homes were purchased, 9,000 more than in the same period last year. This strong increase has prompted ABN AMRO to raise its 2024 forecasts by 10 percent; for 2025, it expects a lower increase of 2.5 percent. The rise in the number of transactions is partly driven by the increase in the National Mortgage Guarantee (NHG) limit and the fact that private landlords are selling their properties. It is mainly first-time buyers who benefit from the higher NHG limit, as this increases their borrowing capacity. The declining mortgage interest rates and the recovery of house prices are also encouraging home owners to move to a next home. However, ABN AMRO notes that with new construction lagging behind, the growth in the number of transactions could slow down. High land prices and a lack of capacity to connect homes to the electricity grid are contributing factors. A positive note is that more construction permits have been issued; if this trend continues, the number of building permits this year could be a quarter higher than in 2023, according to ABN AMRO.
Government plans jeopardising housing sustainability
Although the new coalition government is following the policies initiated by former Housing Minister Hugo de Jonge and the goal of building 100,000 homes annually, it remains uncertain which measures they will implement to achieve this. It appears that rental rates for social housing will be linked to inflation from 2026, whereas they are currently linked to collective labour agreement wages. “If the expectation that inflation will eventually drop to 2 percent comes true, annual rent increases are likely to turn out lower as well. While this is a relief for current tenants, it puts pressure on the revenues of investors and housing corporations. If this results in less investment in new rental homes, it will be more challenging for future tenants to find a home,” says Philip Bokeloh, Housing Market Economist at ABN AMRO. “Additionally, the new coalition agreement does not include measures that will help achieve climate targets for the built environment nor will it help households to transition off gas. There are cuts to sustainability measures, electrification of the housing stock is not prioritised, and the government is not allocating additional funds to address the issue of the overloaded electricity grid, which is causing grid congestion. This could hinder the construction of new homes.”
The full report can bedownloaded here
ABN Amro: Κέρδη και έσοδα άνω των προσδοκιών στο δ΄ τρίμηνο
Άνω των προσδοκιών ήταν τα κέρδη δ΄ τριμήνου για την ολλανδική τράπεζα ABN Amro, ενισχυμένα από τα υψηλά επιτόκια και τις απελευθερώσεις πιστωτικών απομειώσεων, οδηγώντας τη μετοχή της σε άνοδο άνω του 5%.
Η ABN Amro, μία από τις τρεις τράπεζες που κατέχουν δεσπόζουσα θέση στην Ολλανδία, σημείωσε αύξηση 54% σε ετήσια βάση στα καθαρά κέρδη δ΄ τριμήνου, στα 545 εκατομμύρια ευρώ (584 εκατομμύρια δολάρια). Αυτό ξεπέρασε τις προσδοκίες της αγοράς περί 422 εκατομμυρίων ευρώ σε δημοσκόπηση που συνέταξε η εταιρεία.
Ο τραπεζικός τομέας υπήρξε ένας από τους κύριους ωφελούμενους από την αύξηση των επιτοκίων τα τελευταία δύο χρόνια. Ωστόσο, ο ορίζοντας επικαλύπτεται από την οικονομική αβεβαιότητα και τις προσδοκίες για πιθανές μειώσεις επιτοκίων αργότερα φέτος.
Η Ευρωπαϊκή Κεντρική Τράπεζα διατήρησε αμετάβλητα τα επιτόκια στα τέλη Ιανουαρίου και δήλωσε ότι θα ήταν πρόωρο να συζητηθούν περικοπές.
Τα καθαρά έσοδα από τόκους της ABN Amro, βασικό μέτρο των κερδών από δάνεια μείον το κόστος των καταθέσεων, μειώθηκαν στο 1,50 δισ. ευρώ το τρίμηνο, από 1,56 δισ. έναν χρόνο νωρίτερα.
Οι αναλυτές ανέμεναν καθαρά έσοδα από τόκους 1,49 δισ. ευρώ.
Η εταιρεία δήλωσε ότι αναμένει τα καθαρά έσοδα από τόκους το 2024 να είναι σε γενικές γραμμές σύμφωνα με τα 6,3 δισεκατομμύρια ευρώ, όσα αναφέρθηκαν και για το περασμένο έτος.
Ο δείκτης CET1 της ABN Amro – μέτρο κεφαλαιακής ισχύος για τις ευρωπαϊκές τράπεζες που συγκρίνει το βασικό τους κεφάλαιο με σταθμισμένα στοιχεία ενεργητικού – μειώθηκε κατά 0,9 ποσοστιαίες μονάδες σε σχέση με πέρυσι στο 14,3% στις 31 Δεκεμβρίου. Οι αναλυτές ανέμεναν τον δείκτη στο 14,7%.
Η ολλανδική τράπεζα σημείωσε ότι το κόστος το τελευταίο τρίμηνο του 2023 ήταν υψηλότερο λόγω «αυξημένων πόρων για δυνατότητες στο πεδίο των δεδομένων, περαιτέρω ψηφιοποίηση των διαδικασιών και βιώσιμη χρηματοοικονομική ρύθμιση».
Η ABN Amro αναμένει ότι αυτές οι δαπάνες θα παραμείνουν αυξημένες και το 2024.
ABN AMRO reports net profit of EUR 523 million for Q1 2023
ABN AMRO reports net profit of EUR 523 million for Q1 2023
Highlights of the quarter
– Very good start to the year with a net profit of EUR 523 million and an ROE of 9.6% reflecting high NII and low risk costs, partly offset by seasonally high regulatory levies
– NII strong as deposit margins in all client units continued to improve in the higher interest rate environment
– Underlying costs 2.5% lower than in Q4, partly due to lower external staff costs in the first quarter
– Credit quality remains solid and impairments in Q1 were EUR 14 million
– Strong capital and liquidity position. Fully-loaded Basel III CET1 ratio of 15.0% and Basel IV CET1 ratio of around 16%. Second share buyback programme of EUR 500 million finalised in April
– Making progress in building a future-proof bank, strengthening our operational efficiency
Robert Swaak, CEO:
In the first quarter, the Dutch economy continued to demonstrate resilience. The recent turmoil in financial markets was sparked by specific issues at certain banks. Banks in the eurozone were resilient, supported by high capital buffers and conservative liquidity management. Recent developments confirm our strategic choices, giving us a distinct profile and focus. We continue to benefit from our improved risk profile and focus on our licence to operate as regulatory and capital requirements for banks increase further. We are building a future-proof bank by strengthening operational efficiency as we continue to invest in our sustainable finance regulation capabilities, model landscape and data capabilities.
In the first quarter of 2023 we delivered a very strong performance, with a net profit of EUR 523 million. The resulting return on equity (ROE) was 9.6%. Net interest income (NII) was EUR 1,620 million, as deposit margins in all client units continued to improve in the higher interest rate environment. Fee income remained stable. Costs came down by 2.5% (excluding incidentals and regulatory levies) partly due to lower external staff costs in the first quarter. We expect full-year costs for 2023 to be around EUR5.3 billion as inflation and higher investments delay the impact of savings programmes.
Credit quality remains solid and impairments in Q1 were EUR 14 million, while prudent buffers remain in place. Risk-weighted assets increased by EUR 3.2 billion, mainly due to business developments, an adjustment in the application of the SME support factor and model updates as part of our ongoing review of models.Our capital position remains strong, with a fully-loaded Basel III CET1 ratio of 15.0% and a Basel IV CET1 ratio of around 16%. Our deposit and funding mix is stable and well diversified. At the beginning of April we finalised our second share buyback programme, which had been announced in February.
As demonstrated by recent events, economic uncertainty as well as the climate and geopolitical crises continue to converge, making the challenges for society more complex. These developments have an effect on our clients. Where high inflation is causing financial distress for clients, we aim to support them with budget coaches and debt counsellors. We remain vigilant about the longer-term effects of persistently high inflation. Lending is becoming more expensive, already affecting the Dutch housing market. Competition in the mortgage market remains strong. In a slowing housing market, our mortgage portfolio remained stable in the first quarter. Momentum in the corporate loan book is positive with an increase of EUR 0.7 billion (excluding non-core), especially in our focus sectors digital, mobility and new energy. Net new assets at Wealth Management increased by EUR 0.4 billion.
The bank operates from a position of strength, with a clear profile, strategic focus and a strong capital and liquidity position. Our people play a crucial role in serving our clients in the best possible way. I would like to thank them for remaining fully committed to our clients. Recent developments underline the importance of trust in banks. We are fully aware of this and work hard every day to be the future-proof bank that deserves that trust from clients and society.
ABN AMRO Bank – Quarterly Report first quarter 2023 (ctfassets.net)
Ralph Hendriks appointed as Managing Director ABN AMRO MeesPierson
ABN AMRO announced that Ralph Hendriks has been appointed as Managing Director ABN AMRO MeesPierson. In this role, Hendriks will be responsible for ABN AMRO MeesPierson, the private banking arm of ABN AMRO in the Netherlands and the country’s market leader in this sector.
Choy van der Hooft-Cheong, Chief Commercial Officer Wealth Management: “We are pleased to be appointing Ralph Hendriks in this role. He knows the market better than anyone and has a talent for client care. We wish him every success in his new role.”
Ralph Hendriks: “I’m looking forward to collaborating with my colleagues to bring ABN AMRO MeesPierson’s ambitions to life. We want to continue offering our clients the best private banking products, and we make that possible through innovation, digitalisation and sustainability expertise centred around our clients’ needs.”
Hendriks started his career with ABN AMRO in 1995 and has since held many commercial roles at ABN AMRO MeesPierson at local, regional and national level. In his most recent position as Head of Entrepreneur & Enterprise, he was jointly responsible for developing a holistic approach to serving E&E clients, which focuses on providing private banking and professional clients with innovative, quality products.
ABN AMRO Wealth Management aspires to be the partner of choice for wealth management in Northwest Europe. ‘Banking for better, for generations to come’ is its
purpose and serves as a compass in everything it does. The bank wants to blaze the trail when it comes to addressing climate change, circularity and social impact. That’s why ESG investments are the default option for all its new clients. ABN AMRO’s wealth management strategy aims to continue offering clients the very best private banking products and services on the strength of innovation, digitalisation, and our sustainability expertise, centred around our clients’ needs.”