ABN Amro: 'well on track' to achieve 2020 targets
(CercleFinance.com) - ABN Amro is "well on track" to meet its financial targets for 2020 after it made strong progress on strategy execution, the Dutch bank said at its investor day on Friday.
At the meeting, ABN said that it is on track to meet a 56%-58% cost-income ratio by 2020, having made nearly two-thirds of the target 1 billion euros in cost savings.
With a Basel III common equity tier-one capital ratio (CET1) ratio of 18.6% at the end of the third quarter, the bank is also well-positioned for a target capital range of 17.5-18.5%, it said.
The ABN Amro stocks is currently down 2.6% on Euronext Amsterdam despite these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At the meeting, ABN said that it is on track to meet a 56%-58% cost-income ratio by 2020, having made nearly two-thirds of the target 1 billion euros in cost savings.
With a Basel III common equity tier-one capital ratio (CET1) ratio of 18.6% at the end of the third quarter, the bank is also well-positioned for a target capital range of 17.5-18.5%, it said.
The ABN Amro stocks is currently down 2.6% on Euronext Amsterdam despite these comments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.