Abn Amro Bank N.v Stock Earnings Reports

ABN AMRO delivered a strong start to 2026: Q1 net profit rose 12% y/y to EUR 693m (RoE 10.7%). Commercial momentum was driven by mortgage growth (+EUR 2bn this quarter) and rising deposit volumes, while fee income hit a record on elevated market volatility and clearing activity. The bank reduced underlying costs further (EUR 60m saved in Q1; cumulative ~EUR 220m of a EUR 900m plan) and lowered full‑year 2026 cost guidance by ~EUR 100m to around EUR 5.5bn. Capital remains robust with a pro forma CET1 ratio of 15.5%; management reiterated a commitment to return at least EUR 7.5bn of capital (paying up to 100% of net profit in 2026–2028) while leaving open the possibility of additional distributions if capital consistently exceeds targets. Credit quality stayed strong (cost of risk ~9bps, Stage 3 ratio 2.1%); impairment modelling reflected a higher weighting of a negative macro scenario but no material expected impact to date. Key strategic execution items: on track for 2028 ambitions for mortgages and deposits (mortgages 30% of target this quarter; deposits 46% of target, ~63% incl. intended NIBC acquisition), ~50% of RWA reduction target realized in Corporate Banking, HAL integration progressing, and ongoing FTE reductions (40% of 2028 FTE reduction target achieved). Management kept 2026 NII guidance unchanged but noted roughly EUR 100m of upside from the current forward curve and highlighted the DNB mortgage floor removal (potential ~EUR 7bn RWA reduction) as an upside to capital plans. Management emphasized disciplined execution and a cautious stance on updating guidance until midyear given geopolitical and market volatility.