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Your collective labor agreement and industry

ABN-AMRO quarterly figures important for employees

November 14 2024

ABN AMRO has presented its third quarter figures for 2024. It is good to see that the bank has achieved good results again. The bank is doing well in a challenging economic environment, in which the Dutch economy is showing resilience and the housing market continues to boom. As a result, the bank's mortgage portfolio in particular is growing. There are also concerns.

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Necessary improvements to risk models

The improvement of the quality of the bank's risk models is still not going well. This is, among other things, directly at the expense of available resources for shareholder distributions. In addition, the bank has also had to hire extra people to get things in order. The expectation is that the catch-up will have been made in the course of 2025. What does this mean for the bank's profitability in the long term? If shareholders are not rewarded, will there be a demand again to look at the cost side of the bank?

Impact on employees

For employees, it is good that the bank is currently financially healthy. The bank does mention that the new collective labor agreements cause an increase in total costs, but that was also calculated. The solid financial position of ABN AMRO also offers opportunities for the development of the employment conditions of employees.

The role of De Unie

De Unie is closely involved with ABN AMRO. We remain committed to promoting employee interests. We are closely monitoring the bank's plans to review its capital position in the second quarter of 2025, including possible share buyback programs. We understand that this is good for shareholders, but we also want the bank to keep an eye on its position as an attractive employer in the market.

Conclusion

ABN AMRO's quarterly figures show that the bank is on the right track. This is certainly due to the dedication and professionalism of the employees. It also shows that a solid collective labour agreement, which radiates appreciation for employees, remains of great importance.

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