ABN AMRO : A lacklustre Q3 2020 and very conservative guidance
>Reduction in cost of risk but persistent pressure on operating jaws - The group has published net profit that came in well above forecasts at € 301m (vs consensus at € 111m) primarily driven by loan loss provisions that were well below (notably at the CIB division) and, to a lesser extent, tighter control of costs over the period (operational performance > forecasts for all divisions).The top line came in just below forecasts at € 2.2bn (-1% vs the consensus, +...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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