ABN AMRO : Challenging operating trends in short/medium term and (ambitious) CIB review
>Operating trends remain, as expected, under pressure - Q2 2020 was affected by substantial provisions (€ 0.7bn after € 1.1bn in Q1, vs cons € 0.8bn & 5x y-o-y), due to the health crisis (mainly in CIB). For 2020 the group expects loan provisions of € 3.0bn, which points to another significant charge in H2 (~€ 1.2bn), in large part attributable to commercial banking – this implies a CoR of around 110bp this year, and a level that is still above the mid-cycle average ...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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