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." The branch dealing with the oil and gas sector in North America had a total of 15 employees.

North America  amro  abn  financing  bank  loans  billion  oil  total  sector  north  america  stops  gas

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 …

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. …

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 …

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 …

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, …

ABN Amro exit threatens commodity-trader liquidity squeeze
4 years, 4 months ago

ABN Amro exit threatens commodity-trader liquidity squeeze

Live Mint  

ABN Amro Bank NV became the latest bank to exit the commodity and trade finance business, further shrinking the pool of funds available to trading houses moving trillions of dollars of oil, metals and grains around the world every year. “ABN’s decision to pull out of commodity trade finance is worrying for the sector,” said Jean-Francois Lambert, an industry consultant …

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