ABN Amro FIRST LOOK: 3Q23 Deposit margin pressure; improved OPEX & continued net releases
As seen at other institutions this quarter, ABN Amro saw some pressure on deposit margins, leading to a weaker than expected NII. Slightly improved guidance on FY23 OPEX is a clear positive and impairments remain incredibly low, contribution to a strong net result beat. We reiterate our investment case for now.ABN Amro Bank NV is a bank based in the Netherlands. The Bank provides various financial products and services across a variety of channels, including its Mobile Banking app and Internet Banking. The Bank's product portfolio includes insurances, mortgages, savings, investments, loans and payments, among others. The Bank serves retail, private and corporate clients worldwide.
We are a financial services provider for several types of professional clients, each with distinct needs.
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