ABN Amro was forced to lay off 1500 jobs, extra – NOS

ABN Amro continues to reorganize and for 400 million euro will be cut down. In addition, 1500 jobs are lost. The job losses will be in addition to the previously announced savings in the support services, which is 1000 to 1375 jobs disappear.

The bank concentrates on digitisation and mobile banking and already announced that there are 400 million euro will be invested will be. The costs for the restructuring are estimated at around 300 million euros.

At the bank to work now have 26,500 people, of whom about 22,000 internally and 4,500 externally, so hired. Over three years, the bank has a total of still 23,000 people.

Profit

ABN Amro made the further cuts and banenreductie known with the publication of the figures for the third quarter. The bank posted a net profit of 607 million euros, 19 percent more than in the same period last year.

The bank knew, despite the low interest rate to earn on the in – and lending of money. There needed to be less money put aside for bad loans, and savings did their work. The savings are both in major reorganization and merging of departments and services as well as in small things, such as the abolition of the christmas box.

follow up

Last week it was announced that departing chief executive Gerrit Zalm early next year, followed by financial director Kees van Dijkhuizen. About the opvolgingskwestie was the past few weeks a lot of fuss.

The board of directors, supervisory board and the minister Dijsselbloem of Finance would not agree on the candidate. The obvious successor, ABN Amro banker Chris Vogelzang, would not lie in politics. Ultimately, Van Dijkhuizen is pushed forward and extends a seat on the board of directors.

Share

Exactly a year ago, went to ABN Amro to the stock market, with almost a quarter of the shares. Since then, we had to wait for a next harvest shares. That wait had more to do with uncertainty and turmoil in the financial markets, the brexit, the tensions surrounding Italian banks and Deutsche Bank, the Us elections, and finally the opvolgingskwestie of Gerrit Zalm.

in Addition, the price of the share is important, and so what the state with a next tranche shares fetch. ABN went for amounts to € 17.75 euros per share to investors, and that gave the state of 3.3 billion euros. At the current stock price would be the state with the second drive about a half billion more to earn.

The share has fluctuated over the past year quite a bit. The worst was this summer when a share ABN-still but 14,10 euro cost. Since then, the share in the elevator; it closed yesterday at 21,80 euro, well above the introductiekoers.