ABN AMRO Group NV

ABN AMRO Group NV is a Netherlands-based financial institution engaged in the provision of banking products and services. The Company's activities are organized into four segments: Retail Banking, offering a range of banking and insurance products and services through branch and online network, contact centers and subsidiaries, serving retail and preferred banking clients, as well as small and medium enterprises (SMEs); Private Banking, providing global wealth management solutions, as well as custom financial products and services; Corporate Banking, delivering products to commercial customers, real estate investors, financial institutions, and entities involved in Diamond & Jewellery and Energy, Commodities & Transportation (ECT) areas, among others, as well as providing products and services related to capital markets, including clearing; and Group Functions, comprising corporate menegement operations. The Company operates in Europe, North America, South America, Australia and Asia.
  • TickerABN
  • ISINNL0011540547
  • ExchangeEuronext Amsterdam
  • SectorBanks
  • CountryNetherlands

Analysts

Cedric Duinslaeger ...
  • Jason Kalamboussis
  • Ruben Devos

KBC Securities Morning Note 16-11-2018 ABN NA, GIMB BB, SIOE BB

ABN Amro: New targets : costs down, but growth flat in ST Gimv: To acquire majority stake in Groupe Claire Sioen: Sales ahead of expectations, order book promising

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2018

A few weeks after the French government officially mandated advisers to work on EDF’s “architecture”, we provide an update on the main scenarios and their financial consequences. Our status-quo approach gives a valuation of between € 18.0 (+20%) and € 19.2 (+28%), depending on the outcome of the Multiannual Energy Plan (MEP). Under alternative scenarios, with total regulation of the nuclear sector or segregation of nuclear power, our valuation ranges from € 22.5 (+50%) to € 24.0 (+71%...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2018

Quelques semaines après que l’Etat ait officiellement mandaté des conseils pour travailler sur « l’architecture d’EDF », nous revenons sur les principales hypothèses d’évolution et leurs conséquences financières. Notre approche statu quo nous amène à une valorisation du titre entre 18.0 € (+20%) et 19.2 € (+28%), en fonction de la PPE, tandis que les hypothèses alternatives, avec régulation totale du nucléaire ou sanctuarisation du nucléaire, la porterait entre 22.5 € (+50%) et 24.0 €...

Alex Koagne ...
  • Steven Gould

ABN AMRO : Are the concerns about solvency really justified?

>The rerating will have to wait - What was supposed to have been a good set of earnings ended up being a mini profit warning on solvency, generating fresh concerns around the surplus capital and the potential for shareholder returns. The sell-off looks overdone given the group’s fundamentals. We have left our expectations broadly unchanged following the Q3 2018 earnings release and are standing by our Neutral rating on the stock, with upside in line with the average f...

Alex Koagne ...
  • Steven Gould

ABN AMRO : Les inquiétudes autour de la solvabilité sont-elles justifiées ?

>Le rerating attendra! - Ce qui était censé être une bonne publication a finalement tourné en un mini « profit warning » sur la solvabilité, générant de nouvelles inquiétudes sur l’excédent de capital et son potentiel retour à l’actionnaire. La baisse du titre nous semble exagérée compte tenu des fondamentaux du groupe. Nous avons globalement laissé nos attentes inchangées suite à la publication des résultats du T3 2018 et réitérons notre opinion Neutre sur la valeur,...

Philippe Lamaud

ABN AMRO : Operational and financial performance continues to be sound ; recommendations maintained

Since we initiated coverage on ABN AMRO ahead of its IPO (November 2015), ABN AMRO has continued to gradually strengthen its fundamentals through the execution of a relevant strategy, supported by a favourable macroeconomic environment in the Netherlands. In the absence of major external shock, growth in the domestic economy is expected to continue and support the bank’s performance in the coming years. - ABN AMRO is one of best capitalised entities among large European banks in risk weighted measures (CET1 fully-loaded by 17% at end-2016). According to our calculations, this ratio would enabl...

Philippe Lamaud

ABN AMRO : Des performances financières et opérationnelles toujours solides ; recommandations maintenues

Depuis notre initiation de couverture à la veille de son introduction en bourse (novembre 2015), ABN AMRO a poursuivi le renforcement de ses solides fondamentaux grâce à l’exécution d’une stratégie pertinente dans un contexte macro-économique favorable aux Pays-Bas (où la banque génère 80% de ses revenus). En l’absence de choc externe majeur, la croissance de l’économie domestique devrait se poursuive et soutenir les performances de la banque dans les années à venir. - ABN AMRO est l’une des grandes banques européennes les mieux capitalisées en risques pondérés (ratio CET1 fully-loaded de 17...

Philippe Lamaud

ABN AMRO : Operational and financial performance continues to be sound ; recommendations maintained

Since we initiated coverage on ABN AMRO ahead of its IPO (November 2015), ABN AMRO has continued to gradually strengthen its fundamentals through the execution of a relevant strategy, supported by a favourable macroeconomic environment in the Netherlands. In the absence of major external shock, growth in the domestic economy is expected to continue and support the bank’s performance in the coming years. - ABN AMRO is one of best capitalised entities among large European banks in risk weighted measures (CET1 fully-loaded by 17% at end-2016). According to our calculations, this ratio would enabl...

Philippe Lamaud

ABN AMRO : Des performances financières et opérationnelles toujours solides ; recommandations maintenues

Depuis notre initiation de couverture à la veille de son introduction en bourse (novembre 2015), ABN AMRO a poursuivi le renforcement de ses solides fondamentaux grâce à l’exécution d’une stratégie pertinente dans un contexte macro-économique favorable aux Pays-Bas (où la banque génère 80% de ses revenus). En l’absence de choc externe majeur, la croissance de l’économie domestique devrait se poursuive et soutenir les performances de la banque dans les années à venir. - ABN AMRO est l’une des grandes banques européennes les mieux capitalisées en risques pondérés (ratio CET1 fully-loaded de 17...

Cedric Duinslaeger ...
  • Jason Kalamboussis
  • Ruben Devos

KBC Securities Morning Note 16-11-2018 ABN NA, GIMB BB, SIOE BB

ABN Amro: New targets : costs down, but growth flat in ST Gimv: To acquire majority stake in Groupe Claire Sioen: Sales ahead of expectations, order book promising

Alex Koagne ...
  • Steven Gould

ABN AMRO : Are the concerns about solvency really justified?

>The rerating will have to wait - What was supposed to have been a good set of earnings ended up being a mini profit warning on solvency, generating fresh concerns around the surplus capital and the potential for shareholder returns. The sell-off looks overdone given the group’s fundamentals. We have left our expectations broadly unchanged following the Q3 2018 earnings release and are standing by our Neutral rating on the stock, with upside in line with the average f...

Alex Koagne ...
  • Steven Gould

ABN AMRO : Les inquiétudes autour de la solvabilité sont-elles justifiées ?

>Le rerating attendra! - Ce qui était censé être une bonne publication a finalement tourné en un mini « profit warning » sur la solvabilité, générant de nouvelles inquiétudes sur l’excédent de capital et son potentiel retour à l’actionnaire. La baisse du titre nous semble exagérée compte tenu des fondamentaux du groupe. Nous avons globalement laissé nos attentes inchangées suite à la publication des résultats du T3 2018 et réitérons notre opinion Neutre sur la valeur,...

Derya Guzel

Morningstar | ABN Posts Good 3Q Results, Carried by Corporate and Institutional Banking

ABN posted good third-quarter results, making up ground after weaker results in the first half of the year. Net interest income of EUR 1.624 billion in the quarter increased 4% compared with the same period last year, as good corporate loan growth, higher mortgage penalty fees, and increased interest-related fees contributed positively. Other operating income nearly doubled to EUR 277 million after one-offs from equity participation and more favorable hedge accounting income formed a tailwind, while net fee and commission income was flat. On the cost side, lower personnel expenses could not ma...

Derya Guzel

ABN Posts Good 3Q Results, Carried by Corporate and Institutional Banking

ABN posted good third-quarter results, making up ground after weaker results in the first half of the year. Net interest income of EUR 1.624 billion in the quarter increased 4% compared with the same period last year, as good corporate loan growth, higher mortgage penalty fees, and increased interest-related fees contributed positively. Other operating income nearly doubled to EUR 277 million after one-offs from equity participation and more favorable hedge accounting income formed a tailwind, w...

1 director maiden bought

A director at Abn Amro Group Nv maiden bought 12,500 shares at 24.160EUR and the significance rating of the trade was 88/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2018

A few weeks after the French government officially mandated advisers to work on EDF’s “architecture”, we provide an update on the main scenarios and their financial consequences. Our status-quo approach gives a valuation of between € 18.0 (+20%) and € 19.2 (+28%), depending on the outcome of the Multiannual Energy Plan (MEP). Under alternative scenarios, with total regulation of the nuclear sector or segregation of nuclear power, our valuation ranges from € 22.5 (+50%) to € 24.0 (+71%...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2018

Quelques semaines après que l’Etat ait officiellement mandaté des conseils pour travailler sur « l’architecture d’EDF », nous revenons sur les principales hypothèses d’évolution et leurs conséquences financières. Notre approche statu quo nous amène à une valorisation du titre entre 18.0 € (+20%) et 19.2 € (+28%), en fonction de la PPE, tandis que les hypothèses alternatives, avec régulation totale du nucléaire ou sanctuarisation du nucléaire, la porterait entre 22.5 € (+50%) et 24.0 €...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Philippe Lamaud

ABN AMRO : A stairway to haven; recommendations raised to ‘Buy’ on a strong credit operating in a solid economy

In uncertain times and volatile markets, we do not dare to promise investment heaven, but would suggest investors climbing a stairway to haven. A bank such as ABN AMRO with strong fundamentals, limited event risk and operating in a solid ‘core’ European economy with healthy prospects is an appealing investment call in our view in the current environment. Arguably, this comes with a price, and ABN AMRO’s debt instruments are not particularly cheap. While some flight to quality has...

Philippe Lamaud

ABN AMRO : A stairway to haven; recommendations raised to ‘Buy’ on a strong credit operating in a solid economy

In uncertain times and volatile markets, we do not dare to promise investment heaven, but would suggest investors climbing a stairway to haven. A bank such as ABN AMRO with strong fundamentals, limited event risk and operating in a solid ‘core’ European economy with healthy prospects is an appealing investment call in our view in the current environment. Arguably, this comes with a price, and ABN AMRO’s debt instruments are not particularly cheap. While some flight to quality has...

Expert Corporate Governance Service (ECGS)

proxy report 12/07/2018

On 5 February 2018 Ms Olga Zoutendijk announced her decision not to run for a second term as member of the Supervisory Board effective 1 July 2018 and to transfer her duties as Chairman of the Supervisory Board with immediate effect. The Supervisory Board proposes to appoint Mr Tom de Swaan as member and Chairman of the Supervisory Board for a term of four years.

Expert Corporate Governance Service (ECGS)

Etude l' AG du 08/08/2017

At this EGM, two new executive board members are proposed. We have no concerns with regard to both nominations.ABN AMRO Bank is a wholly-owned subsidiary of ABN AMRO Group. Currently, all shares in the capital of ABN AMRO Group are held by two foundations: NLFI and STAK AAG (Stichting Administratiekantoor beheer financiële instellingen and Stichting Administratiekantoor Continuiteit ABN AMRO respectively). The Dutch State holds an interest in ABN AMRO Group through NLFI. As per the sale of part of the NLFI shares in the Company in June 2017, NLFI holds approximately 63% and STAK AAG holds appr...

Matthieu DRIOL

Short term view - ABN AMRO GROUP NV-CVA : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €20.95. The bearish trend would be challenged above €24.81.

Matthieu DRIOL

Analyse court terme - ABN AMRO GROUP NV-CVA : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 20,95 €. La tendance baissière serait remise en cause au-dessus de 24,81 €.

Matthieu DRIOL

Analyse court terme - ABN AMRO GROUP NV-CVA : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 20,95 €, puis 20,40 €. Le franchissement de 24,81 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - ABN AMRO GROUP NV-CVA : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €20.95, then €20.40. Passing €24.81 would question the continuation of the fall.

Matthieu DRIOL

Analyse moyen terme - ABN AMRO GROUP NV-CVA : Les cours baissent.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

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