ABN AMRO Bank (ABN) Q1 2026 earnings summary

Executive summary

• Net profit for Q1 2026 rose 12% year-over-year to €693 million, with return on equity at 10.7%.

• Strong growth in mortgages and corporate loans, with mortgage portfolio up €2.0bn and 20% market share.

• Fee income reached record levels, driven by clearing performance and high market volatility.

• Underlying costs declined, prompting a reduction in full-year 2026 cost guidance to around €5.5 billion.

• CET1 ratio improved to 15.5%, reflecting a robust capital position and profitable growth.

Financial highlights

• Net interest income for Q1 2026 was €1,637 million, up 5% year-over-year, mainly from deposit and mortgage growth.

• Net fee and commission income rose 20% year-over-year to €608 million, with strong results in clearing and global markets.

• Operating expenses declined 2% year-over-year to €1,277 million.

• Impairment charges increased to €67 million, mainly due to updated macroeconomic variables and scenario weightings.

• Operating income rose 7% to €2,287 million.

Outlook and guidance

• Full-year 2026 cost guidance lowered to around €5.5 billion, reflecting disciplined cost management.

• Commercial NII guidance for FY2026 maintained at ~€6.4 billion, with potential upside if forward rates persist.

• 2028 strategic targets reaffirmed: return on equity >12%, cost/income ratio <55%, CET1 ratio >13.75%.

• Committed to returning at least €7.5 billion of capital by paying out up to 100% of net profit over 2026-2028.

• No immediate plans for additional distributions; capital position to be reassessed at Q4.