ABN AMRO Announces Outcome of Strategy Review with Investor Update

​ABN AMRO, an all-round Dutch bank that offers a full range of products and services to retail, private, corporate clients, has presented outcome of its strategy review, announcing that it will be 'A personal bank in the digital age'.

In the press release, the bank cleared its vision to be a bank future-proof bank, rigorously simplifying and centralising the operating model to focus on clients and work more efficiently.

In addition, ABN AMRO outlined its financial targets include safeguarding income by increasing market share in its focus growth segments, costs no higher than EUR 4.7 billion in 2024, reflecting EUR 700 million savings, ROE target for 2024 of around 8% and so on.

Robert Swaak, CEO, comments: “Today we present the outcome of the strategy review and our vision for the bank. Our strategic pillars - customer experience, sustainability and future-proof bank - remain our guiding principles in acting on our purpose‘Banking for better, for generations to come’. With our strong brand and attractive market positions across all segments we have a strong foundation. Our strategy review now gives us a distinct profile and focus. The wind-down of the CIB non-core portfolio as announced in August was a first step. Today we announce we will be a personal bank in the digital age, serving clients where we have scale in the Netherlands and Northwest Europe.”

The bank also outlined the importance of digitisation in today's banking and it will further develop its leading positions in mortgages and SMEs with new propositions, aiming to increase its market share in both segments to above 20%.