Netherlands' ABN Amro Q1 profit rises 12% on mortgage growth

ABN Amro Bank NV

13/05/2026 06:11

Overview

Netherlands bank's Q1 net profit rose 12% yr/yr to €693 mln

Operating income grew 7%, driven by strong fee income and mortgage growth

Costs declined, prompting lower full-year cost guidance to around €5.5 bln

Outlook

Company lowers FY2026 cost guidance to around €5.5 bln

Company expects fewer Dutch housing transactions in 2026

Company sees increased economic uncertainty due to geopolitical tensions and inflation

Result Drivers

MORTGAGE GROWTH - Net mortgage portfolio grew by €2.0 bln, with a 20% market share of new Dutch residential mortgages

FEE INCOME - Strong fee and commission income, driven by Clearing results and increased market volatility

COST REDUCTION - Operating expenses declined due to headcount reduction and cost discipline, leading to lower cost guidance

Company press release: ID:nGNE4nK5nL

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
EUR 693 mln
Q1 CET1 Capital Ratio
15.50%
Q1 Impairment charges
EUR 67 mln
Q1 Operating Income
EUR 2.29 bln
Q1 ROE
10.70%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for ABN Amro Bank NV is €35.75, about 22.3% above its May 12 closing price of €29.24

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)