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 the Dutch State’s stake in the bank from 49.5 percent to approximately 40 percent. The Dutch government nationalized ABN Amro to prevent its collapse during the global credit crisis that started in 2008.

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History of this topic

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. …

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 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 …

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