ABN AMRO Bank (ABN) investor relations material

Executive summary

• Net profit rose 29% year-on-year to €781 million in Q2 2026, with return on equity at 12.1%.

• Operating income increased 13% year-on-year to €2,424 million, driven by strong net interest income and fee growth.

• Cost discipline led to a cost/income ratio improvement to 53.7%, and full-year cost guidance was lowered to €5.5 billion.

• CET1 ratio improved to 15.9%, supporting robust capital buffers and an interim dividend of €0.68 per share.

• Acquisition of NIBC Bank completed, strengthening position in Dutch mortgage and savings markets.

Financial highlights

• Net interest income up 11% year-on-year to €1,700 million in Q2 2026; net fee and commission income up 25% to €617 million.

• Operating expenses decreased 1% year-on-year to €1,300 million, despite inflation and integration costs.

• Cost of risk remained low at 4 basis points, with impairment charges of €24 million in Q2 2026.

• Client assets increased to €415 billion, up from €355.5 billion a year earlier.

• Fee income reached record levels, up 2% quarter-on-quarter, driven by wealth management and clearing.

Outlook and guidance

• Full-year 2026 commercial net interest income guidance raised to €6.8 billion, including NIBC.

• Full-year cost guidance lowered to €5.5 billion, reflecting ongoing cost discipline and integration synergies.

• Targets for 2028 include return on equity >12%, cost/income ratio <55%, and CET1 ratio >13.75%.

• Expect significant RWA developments in H2: NIBC consolidation to add €6.6 billion, DNB mortgage floor termination to reduce RWAs by €7 billion.

• Costs in H2 may be affected by collective labour agreement negotiations.