Abn Amro Group Nv Stock Earnings Reports

ABN AMRO delivered a strong start to 2026 with Q1 net profit of EUR 693m (up 12% YoY) and a 10.7% return on equity. Key drivers were mortgage and corporate loan growth, higher deposit volumes supporting commercial net interest income (NII), and record fee income driven by volatile markets and clearing activity. Underlying costs declined and management lowered full‑year 2026 cost guidance by ~EUR 100m to around EUR 5.5bn, with cumulative cost savings of ~EUR 220m realized so far. FTEs fell notably (about 40% of the 2028 FTE reduction target achieved), and EUR 60m of cost savings were recorded in Q1. Credit quality remains sound (Stage 3 ratio 2.1%, coverage 15.8%) with a low cost of risk (9 bps); impairment models were adjusted to reflect a larger weighting for a negative macro scenario. Pro forma CET1 was 15.5% (excluding the expected ~70–80 bps impact of the NIBC acquisition); management reiterated commitment to return at least EUR 7.5bn of capital (paying up to 100% of net profit in 2026–28) while keeping open the possibility of additional distributions if capital consistently exceeds targets. RWA optimization and portfolio management are progressing (about 50% of the targeted EUR 10bn RWA reduction achieved). Management kept full‑year NII guidance unchanged but noted a potential upside of roughly EUR 100m from current forward rates and expects to refine guidance at Q2.