(Reuters) -ABN Amro plans to cut 5,200 full-time jobs by 2028, it said on Tuesday ahead of its capital markets day, as the Dutch bank seeks to deliver on its cost-cutting promises and focus on its mortgage business.
The lender also announced the sale of its personal loan business Alfam to domestic peer Rabobank, and said it would trim its risk-weighted assets in the corporate bank division by 10 billion euros ($11.5 billion) over the next three years.
The deal is expected to have a positive effect of 5 basis points on ABN Amro’s Common Equity Tier 1 ratio, a core measure of a bank’s capital strength, despite an expected book loss of around 100 million euros, it said.
As part of its 2028 roadmap, ABN Amro aims to achieve a return on equity of at least 12% and to distribute up to 100% of capital generated to shareholders between 2026 and 2028. It also targets income above 10 billion euros and a CET1 ratio exceeding 13.75%.
“Our focus is on sustainable and profitable growth in Northwest Europe,” CEO Marguerite Bérard said in a press release.
Tuesday’s investor event is the first under Bérard, who was appointed in early 2025. Since then, she has brought cost-cutting and a focus on the group’s core businesses to the top of her agenda.
($1 = 0.8684 euros)
(Reporting by Jakob Van Calster in Gdansk, editing by Milla Nissi-Prussak)
