ABN Amro profit up over 55% to €1.9 billion due to rising interest rates
1 year, 10 months ago

ABN Amro profit up over 55% to €1.9 billion due to rising interest rates

NL Times  

One of the largest banks in the Netherlands, ABN Amro, saw profits last year rise by more than half compared to a year earlier. The interest rates mean ABN Amro can earn wider margins on savings that people have deposited with the bank. ABN Amro now also thinks it is in a strong enough position to reward its shareholders, which it will do by paying out dividends, and by buying back outstanding shares valued at half a billion euros. What also helped ABN Amro’s profit jump was that the annual figures for 2021 still were strongly affected by one-off items. Due to the high inflation of recent times, there is still a risk that some of the bank’s customers could find themselves into trouble, but according to ABN Amro it is not yet necessary to earmark money for a fund to cover loans that may not be repaid.

Dutch Netherlands Bank Interest Euros Amro Abn Swaak  netherlands  shares  euros  rising  abn  interest  million  billion  profit  55  19  amro  bank  money  rates

History of this topic

Dutch State set to sell off another 10 percent of ABN Amro
1 year ago

Dutch State set to sell off another 10 percent of ABN Amro

NL Times  

The Dutch State plans to sell another 10 percent of its ABN Amro shares, bringing its stake in the bank down to around 40 percent. The sale will happen through a pre-arranged trading plan executed by BofA Securities Europe, said the NLFI, the foundation that manages government interests in financial institutions on behalf of the Dutch State. It will reduce …

ABN Amro cuts through the red tape with a BSN-free new account
1 year, 1 month ago

ABN Amro cuts through the red tape with a BSN-free new account

Dutch News  

There is so much officialdom to sort out when moving to the Netherlands that new arrivals can often find themselves going round in circles. You no longer need a Dutch to open a bank account so you can potentially set up your account before you move via the ABN Amro banking app. The bank can meet legal obligations around identity …

Dutch economy to grow slightly this year despite recession: ABN Amro
1 year, 3 months ago

Dutch economy to grow slightly this year despite recession: ABN Amro

NL Times  

ABN Amro expects the Dutch economy to grow slightly by 0.5 percent this year. Rising interest rates due to central bank interest rate increases also have a slowing effect because, for example, it makes borrowing more expensive. In addition, the European Central Bank’s target for inflation of 2 percent remains out of sight, according to ABN Amro. ABN Amro also …

No recession, but little growth for Dutch economy this year: ABN Amro
1 year, 9 months ago

No recession, but little growth for Dutch economy this year: ABN Amro

NL Times  

The Dutch economy will not shrink this year, but its growth will slow down, ABN Amro expects. The bank predicts that the economy will grow 1.2 percent this year and 1.3 percent next year. Over the past two years, the Dutch economy grew more than 4 percent per year. The bank expects that consumer prices will rise by 4.4 percent …

Netherlands set to sell off more of its stake in ABN Amro
1 year, 10 months ago

Netherlands set to sell off more of its stake in ABN Amro

NL Times  

The Dutch State plans to sell off more of its stake in ABN Amro. The Dutch government nationalized ABN Amro in 2008 when the bank threatened to collapse at the start of the credit crisis. The government put the bank back on the stock exchange in 2015, making clear that it would eventually sell all its interests in ABN Amro. …

Dutch housing prices will fall 10 percent over two years, says ABN Amro
1 year, 10 months ago

Dutch housing prices will fall 10 percent over two years, says ABN Amro

NL Times  

Home prices in the Netherlands will fall 10 percent in the coming two years, 6 percent in 2023, and 4 percent in 2024, ABN Amro expects. This is because mortgage interest rates have risen sharply while disposable income is under pressure from inflation,” ABN Amro economist Philip Bokeloh said. The higher mortgage interest rates mean people can borrow less on …

ABN Amro: Netherlands can expect recession, but turnaround will lead to 2023 growth
2 years ago

ABN Amro: Netherlands can expect recession, but turnaround will lead to 2023 growth

NL Times  

The high inflation and rising interest rates are putting pressure on the Dutch economy, which will therefore wind up sliding into a recession. Because wages will also continue to rise and the government is limiting energy costs, consumers will likely start spending more starting in the second quarter next year. Despite that, experts at ABN Amro still think that consumer …

Foreign banks attracting many Dutch savers with higher interest rates
2 years, 1 month ago

Foreign banks attracting many Dutch savers with higher interest rates

NL Times  

Foreign banks are attracting more and more Dutch savers with higher interest rates on savings accounts. Banks from Estonia, Italy, Germany, France, and Slovakia, among others, have seen a sharp increase in Dutch customers since the European Central Bank scrapped negative interest in July, NOS reports. But some foreign banks increased their interest rates more significantly, resulting in a difference …

ABN Amro raising savings account interest rate slightly along with ING, Rabobank
2 years, 2 months ago

ABN Amro raising savings account interest rate slightly along with ING, Rabobank

NL Times  

ABN Amro has announced that it will increase the savings account interest rate as of 1 December. According to the bank’s CEO, Robert Swaak, this step means that "we are returning to more normal waters.” ING will apply the same interest rate from 1 December for savings balances of up to 10,000 euros from all private customers of the bank, …

ABN Amro and ING to refund customers €200 million for too-high interest charges
2 years, 3 months ago

ABN Amro and ING to refund customers €200 million for too-high interest charges

NL Times  

ABN Amro and ING set aside almost 200 million euros extra to compensate customers who paid too much interest in the past. Financial complaints institute Kifid ruled that the banks had to compensate customers for the overpaid interest and reimburse the interest on the interest they missed out on, NOS reports. ABN Amro added another 120 million to its previous …

Buying a new home or leaving NL? What should you do about your current property?
2 years, 3 months ago

Buying a new home or leaving NL? What should you do about your current property?

Dutch News  

Do you own a house in the Netherlands but are moving to a new country? It is worth noting, however, that ABN AMRO mortgages can usually be adjusted easily, so you won’t have to agree a new deal or go to a notary again. There are, however, some downsides to renting out property which you should take into account: You …

Buying a new home or leaving NL? What should you do about your current property?
2 years, 3 months ago

Buying a new home or leaving NL? What should you do about your current property?

Dutch News  

Do you own a house in the Netherlands but are moving to a new country? It is worth noting, however, that ABN AMRO mortgages can usually be adjusted easily, so you won’t have to agree a new deal or go to a notary again. There are, however, some downsides to renting out property which you should take into account: You …

Netherlands price rises increasingly persistent, widespread: ABN Amro
2 years, 4 months ago

Netherlands price rises increasingly persistent, widespread: ABN Amro

NL Times  

High energy prices are making more and more products and services in the Netherlands more expensive, and the price increases are becoming more persistent, economists at ABN Amro said in response to new inflation figures from Statistics Netherlands. ABN Amro’s experts believe that energy prices will remain high until the end of 2023. “We assume that this can take until …

More ABN Amro clients to pay negative interest on savings
3 years, 2 months ago

More ABN Amro clients to pay negative interest on savings

NL Times  

From January 1, ABN Amro customers with more than 100,000 euros in savings will be charged negative interest. ABN Amro customers will have to pay 0.5 percent interest on the part of their savings that exceed 100,000 euros. ABN Amro, and other banks, have to keep part of their customers' savings at the European Central Bank, and they have to …

ABN AMRO made to compensate clients after overcharging on loan interest
3 years, 3 months ago

ABN AMRO made to compensate clients after overcharging on loan interest

NL Times  

The Dutch Consumer’s Union reached an agreement with ABN AMRO to compensate clients who paid too much interest for their running credit from ABN AMRO, ALFAM and ICS. The interest rate for these accounts needs to move with the market rate, yet the interest rate at ABN AMRO did not fall when the market rate did. ABN AMRO will now …

ABN Amro stops its financing of North America oil and gas sector
3 years, 6 months ago

ABN Amro stops its financing of North America oil and gas sector

NL Times  

Dutch bank ABN Amro said it is ending its financing of the oil and gas sector in North America. The portfolio includes loans made to about 75 businesses in the North American energy markets with a volume of 1.5 billion U.S. dollars. "As a result of the sale, ABN AMRO withdraws from oil and gas related lending in North America." …

ABN Amro to scrap 2,700 jobs
4 years ago

ABN Amro to scrap 2,700 jobs

NL Times  

ABN Amro plans to cut 15 percent of its workforce, or some 2,700 jobs in the coming years, the bank said in an update on its strategy on Monday. ABN Amro wants to cut costs by 700 million euros to 4.7 billion euros in the coming years. "Today we announce we will be a personal bank in the digital age, …

Partial lockdown to cause wave of bankruptcies: ABN Amro
4 years, 2 months ago

Partial lockdown to cause wave of bankruptcies: ABN Amro

NL Times  

The partial lockdown the government implemented on Wednesday to try and get the spread of the coronavirus under control, will mean bankruptcy for many companies, ABN Amro economist Philip Bokeloh expects. The lockdown includes catering establishments closing for everything except takeaways, limits on alcohol sales, and no more than 30 people allowed in many public places like theaters. While this …

Dutch Housing Market Soars 8% as Supply Shortage Contributes to Price Surge
6 years, 8 months ago

Dutch Housing Market Soars 8% as Supply Shortage Contributes to Price Surge

Dutch News  

House prices in the Netherlands are expected to continue rising at a significant pace this year, with average prices set to increase by 8%. The shortage of homes for sale has pushed sales to above the forecast 6% in the first three months of 2023, with prices reaching a level not seen since the 2008 economic crisis.

Dutch Housing Market Soars 8% as Supply Tightens
6 years, 8 months ago

Dutch Housing Market Soars 8% as Supply Tightens

Dutch News  

House prices in the Netherlands are expected to continue rising at a significant pace this year, with an average increase of 8%. The shortage of homes for sale has pushed sales to above the forecast 6% in the first three months of 2023, with prices approaching the level reached before the 2008 economic crisis hit.

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