ABN AMRO: Net Result Up by 12% to 693 Million Euros in Q1 2026
ABN AMRO reported on Wednesday a net result of 693 million euros for the first quarter of 2026, an increase of 12% compared to the same period last year, with a return on equity rising to 10.7%. The Dutch bank benefits from profitable growth in its retail and financial services activities, but its economists have lowered growth forecasts for the Netherlands due to rising inflation and geopolitical tensions in the Middle East.
Profitable Growth Supports Results
Operating income stood at 2.287 billion euros, up 7% year-on-year. This increase is based on very solid commission and fee revenues of 608 million euros (+20%), driven particularly by the excellent performance of ABN AMRO Clearing Bank, which recorded high commissions following increased market volatility. Net interest income was 1.637 billion euros, up 5% year-on-year and down 2% compared to the fourth quarter of 2025. In retail activities, the bank achieved a 20% market share in new residential mortgage loans in the Netherlands, with a net growth of 2.0 billion euros in mortgage loans.
Cost Reduction and Capital Progress
ABN AMRO continued its cost optimization strategy with operating expenses (excluding exceptional items) brought back to the level of the first quarter of 2025. The total workforce decreased by 528 full-time equivalents during the quarter, which brings the reduction since the end of 2024 to 40% of the 2028 target set by the bank. Credit quality remains solid, with a loss rate of 9 basis points. The CET1 capital ratio improved to 15.5%, supported by profitable growth and ongoing progress in optimizing risk-weighted assets (RWA). During the quarter, data quality improvements contributed to a reduction of approximately 2.0 billion euros in RWA.
2026 Outlook Lowered, Ongoing Acquisitions
With this strong start to the year, ABN AMRO has lowered its full-year 2026 cost outlook to approximately 5.5 billion euros. The bank expects to finalize the acquisition of NIBC in the third quarter (subject to regulatory approval) and the divestiture of its Alfam consumer credit portfolio in the fourth quarter of 2026. Moreover, the bank anticipates a decline in Dutch economic growth and a lower number of real estate transactions this year, although the resilience of the Dutch economy has so far been maintained.
