This was reported by the bank Wednesday at the presentation of its quarterly results.
ABN has a total of 200 million euros in savings identified, realized a significant part in 2017. This involves a combination of “human and non-staff costs, ” the bank said.
” Further cost savings in other areas to be identified at this time and this year will be put in motion ‘ “the group went on to say.
ABN saw its net profit last quarter by 35 percent to fall to 391 million euros. This was mainly due to the settlement around interest rate derivatives for entrepreneurs. Underlying profit rose 10 percent to 662 million euros.
Settlement
The bank decided to cooperate with the end of July to the settlement for entrepreneurs who unsuitable interest rate derivatives have been sold in recent years . That arrangement provides for a more lenient handling of complaints, which ABN is provision for the costs had increased by 271 million euros. That amount was at the expense of profits in the second quarter.
ABN benefited last quarter or of the recovery in the Dutch economy. Depreciation on non-performing loans, although walked up to 54 million euros, but that according to the bank were ‘limited’. Thereby decreased provisions for problem loans now
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