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The bank, which on Friday posted first-quarter results hit by bad loans in its home market, said the cuts are part of a reorganization of its commercial and merchant banking division and will mostly be through natural attrition and reallocation.
The bank said it had returned to profit after putting less money aside to cover bad debts and other one-offs...These results are satisfactory, especially under the current economic conditions which are still far from favourable,' chief executive
ABN Amro, the bank owned by the Dutch state, says second quarter earnings fell 9.9 percent due to more of its loans going bad. Net profit was €291 million ($365 million), compared with €323 million a year ago. ABN blamed lower
RO said today it expected quarterly profits to fall this year due to a rise in bad debt costs and continued pressure on interest margins after reporting a 17 per cent fall in first-quarter underlying profit. "As the business environment we operate in
The paper bases its claims on an interview with CEO Gerrit Zalm in which the former finance minister says he has spoken to almost all his European competitors. We are very well capitalised and we're not in a position to have to shrink our balance
Zalm was responding to calls by VVD stalwart and former European Commissioner Frits Bolkestein, who told another show the EU should continue supporting Greece on the condition it leaves the euro. Zalm said if this strategy would be adopted, Italy
ABN Amro, Austria's state-owned lender that includes Fortis's former Dutch banking assets, plans to trim 2,350 jobs in the next four years, on top of previously announced cuts, as it prepares for a return to the stock market. The Amsterdam-based bank
The paper says CEO Gerrit Zalm has sent a letter to all staff explaining that costs are too high. Zalm is in the process of readying the bank to be floated on the stock exchange, probably in 2014.
Amro Bank NV has warned staff that its cost levels are "problematic" and that the nationalized Dutch lender needs to become more efficient ahead of its privatization. Chief Executive Gerrit Zalm on Thursday told employees that ABN Amro needs to focus
There are no bonuses because the bank did not make a profit last year. On Thursday, it emerged ING CEO Jan Hommen had a pay rise of 2% and a bonus of 1.25m last year.