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ABN Amro Warns on Interest Rates as Margins Come Under Pressure

  • Bank says well placed to boost payouts at the end of the year
  • ABN focusing on costs, revenue to help offset low rate impact
Updated on

ABN Amro warned that ultra low interest rates in Europe are eating into margins, forcing it to take remedial action to shore up profit.

While second quarter net income of 693 million euros ($777 million) beat estimates for 638 million euros, the Amsterdam-based bank said the impact of rates on deposit margins is prompting it to explore different revenue opportunities and focus on “strict cost discipline.”