|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.05 - 8.41|
|52 Week Range||5.68 - 19.52|
|Beta (5Y Monthly)||1.53|
|PE Ratio (TTM)||7.12|
|Earnings Date||Aug 12, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 24, 2020|
|1y Target Est||27.59|
A report by auditor EY found that Shandong Fangyuan Nonferrous Metals Group, China's biggest privately held copper smelter, has been overstating its profit and production levels while understating its debt, according to two sources with knowledge of the matter. Its core unit, Dongying Fangyuan Nonferrous Metals Co Ltd, and group firm Dongying Lufang Metals Material Co Ltd had "significantly higher debt, lower profitability, (and) lower production volumes," than publicly disclosed, one source quoted a summary of the EY report as saying. The audit covered 2018 and the first three quarters of 2019 for Dongying Fangyuan, Dongying Lufang, and four other Fangyuan units, the source said.
Not for release, publication or distribution, in whole or in part, in or into or from US, Japan, Australia or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. ABN AMRO Bank intends to issue deeply subordinated securities that qualify as Additional Tier 1 capital under CRR. The intended issuance will be in the form of EUR denominated Perpetual Additional Tier 1 Capital Securities which can be called in 2025 with a temporary write-down loss absorption mechanism and discretionary non-cumulative coupons.
Not for release, publication or distribution, in whole or in part, in or into or from US, Japan, Australia or any other jurisdiction where to do so would constitute a violation.
Commerzbank's tough year took another rocky turn on Wednesday (May 13). Germany's second largest lender announced a net loss of 295 million euros - or about $320 million - in the first quarter... Way down on its net profit of 122 million euros last year. Commerzbank said measures put in place to control the new disease knocked almost half a billion euros off earnings in the quarter. The bank also expects credit losses of between 1 billion and 1.4 billion euros this year, and warned loan loss provisions risked ruining its recovery. 2020 has been a difficult year for Commerzbank. So far it has stopped its 2019 dividend plans, back-tracked on selling its Polish lender mBank, and faced credit rating downgrades. Dutch lender ABN Amro also announced first-quarter woes on Wednesday. It blamed the virus crisis and crashing oil prices for a worse-than-expected downturn. ABN reported a first-quarter loss of 395 million euros compared with a net profit of 478 million euros a year before. The bank also warned provisions for souring loans could rise to 2.5 billion euros this year. By lunchtime Wednesday, Commerzbank shares were down over 4%, while ABN Amro stock had plunged over 7%.
Dutch bank ABN Amro warned provisions for souring loans could balloon to 2.5 billion euros ($2.71 billion) this year as the coronavirus crisis and oil price crash triggered a higher-than-expected first quarter loss. The lender, which has one of the biggest exposures in Europe to the global oil-and-gas industry, racked up losses in the first quarter when some of its trading clients ran into trouble due to market volatility. Chief Executive Officer Robert Swaak, who took the helm last month, said he was ramping up a review of ABN Amro's investment bank to be completed by August.
ABN AMRO reports net loss of EUR 395 million in Q1 2020 Net loss marked by high impairments due to Covid-19, oil prices and market developments Supporting clients in.
ABN AMRO to postpone dividends on the recommendation of the European Central Bank (ECB); expects loss in Q1 2020 ABN AMRO has taken notice of the recommendation of the.
Last week ABN AMRO announced that, for Commercial Banking clients with a credit facility of up to 2.5 million euros, payment of principal and interest will be deferred for six months. Today ABN AMRO is extending this measure to Commercial Banking clients with a credit facility with a principal and/or a limit of up to 50 million euros.
ABN AMRO records incidental net loss of USD 200 million As a result of the unprecedented volumes and volatility in financial markets following the outbreak of COVID 19, ABN.
For a group of some 55,000 Commercial Banking clients with a credit facility of up to 2.5 million euros, payment of interest and principal will be automatically deferred for six months. Interest and principal payments due in April through September will not be collected from these clients; they can make these payments later. The above deferral will also be available where possible to Commercial Banking clients with a credit facility exceeding 2.5 million euros.
Europe has emerged as a key region for hatching and scaling fintech companies. Dublin-based Fenergo builds solutions for banks and other financial management companies to help with regulatory compliance, customer onboarding and other "lifecycle management" requirements. The funding is coming from two investors: the multinational banking giant ABN AMRO (via its Ventures arm) and DXC Technology, which provides a wide range of IT, systems integration and consulting services to businesses (and thus a key partner for a company like Fenergo).
Two letter bombs exploded on Wednesday at two separate locations in the Netherlands but nobody was hurt in the incidents, which police blamed on an extortionist who had demanded payment in bitcoin. Both explosions were minor, one at an ABN Amro bank mail-sorting office in Amsterdam and the other 225 km (140 miles away) in a mail room of Japanese electronics group Ricoh, police said. "The police believe the most likely scenario is that the letter discovered on Wednesday was one of several letter bombs sent to locations across the country," they said in a statement, referring to the Amsterdam incident.
Souring energy loans eroded ABN Amro's <ABNd.AS> fourth quarter profit growth, it said on Wednesday, prompting the Dutch bank to launch another review of its trade and commodity finance operations. "The offshore sector still gives us a headache, we had a serious and unexpected amount of impairments there," Chief Executive Kees van Dijkhuizen told reporters. Shares in the Dutch bank fell 5.6% by 1005 GMT, the biggest loser by far on Amsterdam's blue-chip AEX index, after ABN said net profits were flat in the last quarter of 2019 at 316 million euros ($345 million).
ABN AMRO reports net profit of EUR 2,046 million for FY 2019 Q4 2019 net profit of EUR 316 million, impacted by low interest rates and high impairmentsReturn on equity for FY.
ABN Amro said on Thursday that Robert Swaak, a former chairman of accounting firm PwC in the Netherlands, is to succeed Kees van Dijkhuizen as the Dutch bank's chief executive. Swaak will take over from Van Dijkhuizen at the company's annual meeting April 22, pending regulatory and shareholder approval, the bank said in a statement. Van Dijkhuizen has been ABN's CEO since 2017, and was CFO when the bank returned to the stock market in 2015 after it was nationalised during the 2008 financial crisis.
Robert Swaak (59) will be appointed by the ABN AMRO Supervisory Board as CEO of ABN AMRO Bank N.V. for a four-year term. Mr Swaak will succeed Kees van Dijkhuizen during the Annual General Meeting (AGM) on 22 April 2020. The appointment of Mr Swaak is subject to regulatory approval.
Dutch bank ABN Amro said on Wednesday it would not charge negative interest on deposits up to 100,000 euros ($110,200), as it comes under political pressure to shield retail clients from the effects of ultra-low interest rates. European banks are grappling with the consequences of the European Central Bank's September decision to cut its key deposit rate further into negative territory, making it tougher for them to earn money from their traditional lending business. Dutch finance minister Wopke Hoekstra in September said he would talk to banks about the consequences of negative interest rates, but resisted calls by politicians for an outright ban of them on smaller deposits.
ABN AMRO reports net profit of EUR 558 million in Q3 2019 Net profit at EUR 558 million in Q3 2019, reflecting solid operational performance and moderate impairments, offset.
It's easy to match the overall market return by buying an index fund. Active investors aim to buy stocks that vastly...
The Dutch central bank said on Tuesday it would require banks to retain 3 billion euros ($3.31 billion) in additional capital to compensate for risks posed by mortgage portfolios. In its autumn report on financial stability, De Nederlandsche Bank said the measure would better prepare the banks to weather a downturn in house prices. It said it would increase the average risk weighting for mortgages to 14%-15% from the current 11%.
Sale of shares in equensWordline to Worldline completed On 24 July, ABN AMRO announced the sale of its remaining 7% interest in equensWordline to Worldline, subject to.