ABN AMRO Bank (AB2A) Q3 2026 Earnings Report

The call was strongly positive overall. ABN AMRO reported substantial profit growth, higher commercial NII guidance, strong fee income, solid credit quality, continued cost-savings execution, significant capital optimization and progress integrating NIBC and HAL. The main challenges were a higher expected cost base in 2027, unresolved collective labor agreement negotiations, deposit mix shifts, declining asset margins, seasonal softness in some fee businesses, and expected normalization in savings margins and Clearing volatility. Management nevertheless reaffirmed its cost and strategic ambitions and expressed confidence in updating and extending its financial targets.

ABN AMRO raised full year '26 commercial NII guidance to above EUR 6.9 billion and maintained cost guidance at around EUR 5.5 billion, excluding incidentals and restructuring costs; for full year '26, cost of risk is expected to remain below the through-the-cycle range of 10 to 15 basis points. Underlying deposit growth was stated at 3% to 4%, translating to roughly EUR 10 billion per year, while the '28 Wealth Management ambition is EUR 335 billion of client assets, with underlying growth of EUR 5 billion to EUR 7 billion. Other commercial NII was guided at around EUR 350 million to EUR 400 million excluding HAL, Clearing was indicated at EUR 350 million on a normalized basis, fees were above the 3% to 4% provided at the CMD, next year's NIBC effect is expected to be around EUR 150 million, restructuring charges are expected to be roughly EUR 100 million annually, and the distribution policy is up to 100% of net results. ABN AMRO intends to provide '27 NII guidance, update its financial targets and extend the horizon to 2029 with its Q4 results.