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ABN AMRO Bank N.V. (ABN.AS)

Amsterdam - Amsterdam Delayed Price. Currency in EUR
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9.52-0.15 (-1.59%)
At close: 5:36PM CET
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Neutralpattern detected
Previous Close9.67
Open9.44
Bid0.00 x 0
Ask0.00 x 0
Day's Range9.38 - 9.64
52 Week Range5.68 - 12.88
Volume5,853,998
Avg. Volume6,080,577
Market Cap8.949B
Beta (5Y Monthly)1.53
PE Ratio (TTM)N/A
EPS (TTM)-0.17
Earnings DateMay 12, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateApr 24, 2020
1y Target Est27.59
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • ABN Amro Scraps Dividend After First Annual Loss in a Decade
      Bloomberg

      ABN Amro Scraps Dividend After First Annual Loss in a Decade

      (Bloomberg) -- ABN Amro Bank NV scrapped its dividend for 2020 and posted its first annual loss in a decade as the pandemic weighed on lending income and the lender restructured its investment bank.An unexpected profit of about 54 million euros ($65 million) in the fourth quarter wasn’t enough to save the Dutch lender from its first negative result since 2010. The bank last year was hit by losses at its clearing business and the meltdown of Singapore oil trading giant Hin Leong Trading Ltd., where it is one of the failed company’s biggest creditors.ABN Chief Executive Officer Robert Swaak, who took over in April, is retreating from large parts of the investment banking business as he focuses on cost cutting and digitization. Even before the pandemic threw markets and economies into turmoil, the bank was facing higher costs to bolster client vetting amid an ongoing money-laundering probe in the Netherlands.ABN Amro fell as much as 2.4% in early Amsterdam trading and was down 1.9% to 8.39 euros as of 9:15 a.m. Shares of the bank, majority-owned by the Dutch state, have dropped by about 50% in the last 12 months, giving the company a market value of 7.9 billion euros.In August, he announced plans to cut a third of the lender’s business with corporate clients, dropping company finance outside of Europe and exiting trade and commodity financing altogether in a restructuring that will see the bank cut about 2,800 jobs. The company, which plans to reduce costs by about 700 million euros by 2024 to 4.7 billion euros, has a policy of paying out at least 50% of profit in dividends.“Based on the ECB’s revised recommendation and the loss recorded in 2020, regrettably no dividend will be proposed,” for last year, Swaak said in the statement. “We’re committed to resuming payment of dividends, sustainably, taking into account the ECB’s recommendation.”The surprise profit last quarter compared with estimates for a loss of 4.07 million euros and came as ABN Amro joined other European lenders in signaling that the worst of the crisis is over, with impairments set to decline this year amid the resilience of the Dutch economy and housing market.In a separate statement, ABN Amro said its supervisory board plans to appoint Lars Kramer as a member of the company’s executive board and chief financial officer. Until his appointment becomes effective, and after current CFO Clifford Abrahams steps down on Feb. 28, Annemieke Roest will act as acting finance chief.Other financial highlights:Net interest income EU1.35b vs EU1.39b estimateNet fee and commission income EU387m vs EU365m estimateCommon equity Tier 1 ratio 17.7% vs. estimate 17.3%(Adds shares in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

    • ABN AMRO nominates Lars Kramer as new Chief Financial Officer
      GlobeNewswire

      ABN AMRO nominates Lars Kramer as new Chief Financial Officer

      ABN AMRO nominates Lars Kramer as new Chief Financial Officer The Supervisory Board announces today that it intends to appoint Lars Kramer as a member of the Executive Board and Chief Financial Officer of ABN AMRO. The nomination is subject to the approval of the European Central Bank (ECB). Until the appointment of Mr Kramer becomes effective, and after Clifford Abrahams steps down on 28 February, Annemieke Roest will serve as acting CFO (subject to regulatory approval). Lars Kramer is currently a member of the Managing Board and the Chief Financial Officer of Hellenic Bank. Prior to joining Hellenic Bank in 2017, Mr Kramer was employed for over 20 years at ING as CFO, including at ING Wholesale Banking and ING Direct N.V. Tom de Swaan, Chairman of the ABN AMRO Supervisory Board: "The Supervisory Board is pleased with the nomination of Lars Kramer. Mr Kramer’s strong track record as a CFO and his extensive experience in the banking sector gained in previous senior management positions for over twenty-five years make him well-suited to serve on ABN AMRO’s Executive Board as the new CFO. We expect Mr Kramer’s leadership qualities and strategic skills to contribute greatly to the successful execution of ABN AMRO’s strategy. The Supervisory Board is very grateful to Mr Abrahams in particular for his valuable contribution to the strategy review and relentless dedication to ABN AMRO.” Upon receipt of the ECB’s approval of the intended appointment of Mr Kramer, a formal appointment decision will be made by the Supervisory Board as soon as possible. ABN AMRO Press Relations ABN AMRO Investor RelationsJeroen van Maarschalkerweerd Ferdinand Vaandrager Media Relations & Public Affairs Investor Relationspressrelations@nl.abnamro.com investorrelations@nl.abnamro.com+31 20 6288900 +31 20 6282282 This press release is published by ABN AMRO Bank N.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation) Attachment ABN AMRO draagt Lars Kramer voor als nieuwe Chief Financial Officer

    • ABN AMRO reports modest loss of EUR 45 million for FY2020
      GlobeNewswire

      ABN AMRO reports modest loss of EUR 45 million for FY2020

      ABN AMRO reports modest loss of EUR 45 million for FY2020 Q4 2020 net profit EUR 54 million, reflecting solid operational performance in a challenging environment Dutch economy and housing market resilient; FY impairments below guidance, expected to decline in 2021Good progress on wind-down of CIB non-core; portfolio has declined by around 45% since Q2 Net interest income continues to be impacted by pressure on deposit margins and lower corporate loan volumes Delivered on cost savings programme of EUR 1.1 billion; further cost savings of EUR 700 million by 2024 Very strong capital position, Basel III CET1 ratio of 17.7% (Basel IV above 15%); well placed to pay FY19 dividendNo dividend proposed over 2020; remain committed to resuming payments of dividend sustainablyStrategy review including targets for the longer term presented in November: a personal bank in the digital age Robert Swaak, CEO, comments: ‘Net profit in Q4 was EUR 54 million, reflecting solid operational performance and lower impairments under challenging circumstances. Net interest income continued to be impacted by pressure on deposit margins and lower corporate loan volumes, partly due to the wind-down of CIB non-core. We delivered on a EUR 1.1 billion cost programme, reaching our cost target of EUR 5.1 billion for 2020 (excluding restructuring provisions for the CIB wind-down). The financial results for 2020 were marked by the impact of Covid-19 and large exceptional client files. We closed the year with a modest loss of EUR 45 million. The resulting ROE for 2020 was an unsatisfactory -0.8% and the cost/income ratio was 66%. Excluding CIB non-core, ROE was around 5%. I am proud of the commitment we demonstrated to our clients in the past year and the difference our staff have made, true to our purpose ‘Banking for better, for generations to come’. I would like to thank our clients for their continued trust. In the strategy review presented in November we made clear choices and announced targets for the longer term. We will be a personal bank in the digital age, focused on the Netherlands and Northwest Europe. We are making good progress in the wind-down of CIB non-core as we have reduced the portfolio by around 45% since Q2. I am proud that ABN AMRO has once again achieved a high score in the S&P Global’s SAM Corporate Sustainability Assessment, putting us in the top 10% of most sustainable banks worldwide. Our capital position remains very strong, with a fully-loaded Basel III CET1 ratio of 17.7% (Basel IV CET1 ratio above 15%). This provides resilience and positions us well to pay FY2019 dividend, conditions permitting. Based on the ECB’s revised recommendation and the loss recorded in 2020, regrettably no dividend will be proposed over 2020. We are committed to resuming payment of dividends, sustainably, taking into account the ECB’s recommendation. The Dutch economy and housing market remain resilient, as the government’s effective support programmes continue. We expect that the roll-out of the vaccination programme will facilitate a significant lifting of restrictions in Q2, rapidly leading to a strong economic rebound in the second half of the year. We expect lower impairment levels than in 2020. The bank continues to operate from a position of strength, with a distinct profile, clear strategic focus and a very strong capital position. We are cautiously optimistic about the prospects for the bank as we execute on our strategy.’ Key figures and indicators (in EUR millions) Q4 2020 Q4 2019 Change Q3 2020 Change FY 2020 FY 2019 Change Operating income 1,800 2,101 -14% 2,207 -18% 7,916 8,605 -8% Operating expenses 1,401 1,384 1% 1,357 3% 5,256 5,268 Operating result 400 717 -44% 850 -53% 2,660 3,337 -20% Impairment charges on financial instruments 220 314 -30% 270 -18% 2,303 657 Income tax expenses 126 87 45% 279 -55% 401 634 -37% Profit/(loss) for the period 54 316 -83% 301 -82% -45 2,046 Cost/income ratio 77.8% 65.9% 61.5% 66.4% 61.2% Return on average Equity1 0.7% 6.0% 5.6% -0.8% 10.0% Fully-loaded CET1 ratio 17.7% 18.1% 17.2% 17.7% 18.1% 1 Based on profit for the period attributable to the owners of the parent company ABN AMRO Press OfficeJarco de SwartSenior Press Officerpressrelations@nl.abnamro.com+31 20 6288900 ABN AMRO Investor RelationsFerdinand Vaandrager Investor Relations investorrelations@nl.abnamro.com+31 20 6282282 This press release is published by ABN AMRO Bank N.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation) Attachment ABN AMRO reports modest loss of EUR 45 million for FY2020