WASHINGTON (dpa-AFX) - ABN AMRO Bank N.V. (ABN.AS) reported that its third quarter profit attributable to owners of the parent company was 617 million euros, a decrease of 73 million euros from last year's 690 million euros. In addition, the company announced that it has reached agreement with Blackstone to acquire NIBC Bank.
ABN AMRO Bank's net interest income for the third quarter were 1.580 billion euros down from 1.638 billion euros in the prior year. Despite the positive impact of the acquisition of Hauck Aufhäuser Lampe on 1 July 2025, Net interest income decreased mainly due to declining deposit and mortgage margins. These factors were only partially offset by residential mortgage portfolio growth and higher deposit volumes.
Net fee and commission income for the third quarter totalled 561 million euros, an increase from the prior year's 478 million euros, largely driven by the integration of Hauck Aufhäuser Lampe and positive developments at Personal & Business Banking and Wealth Management.
ABN AMRO Bank announced that it has agreed to purchase NIBC Bank from Blackstone for a consideration of 0.85 times book value based on NIBC's shareholders equity as of the closing date. The estimated transaction price is around 960 million euros and is subject to final adjustments. The acquisition is expected to further enhance ABN AMRO's profitability and to result in a return on invested capital of around 18% by 2029.
Established in 1945, NIBC is a well-managed largely Dutch focused entrepreneurial bank specialised in mortgage lending, saving products, commercial real estate and digital infrastructure lending. NIBC serves approximately 325,000 savings clients, 200,000 mortgage clients and 175 corporate clients within ABN AMRO's Northwest European geographical footprint.
Completion of the transaction is subject to regulatory approvals and works councils consultation processes within ABN AMRO and NIBC, and is expected in the second half of 2026.
ABN AMRO said it has reassessed its mortgage brand strategy. In doing so, the bank has decided to continue to focus on its core mortgage labels, ABN AMRO and Florius, and to discontinue the Moneyou brand. This approach also allows ABN AMRO to create room for the potential inclusion of the strong NIBC mortgage label within its product and brand portfolio. In addition, ABN AMRO intends to legally merge ABN AMRO Hypotheken Groep B.V. into ABN AMRO Bank N.V. to further improve operational efficiency.
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