Latest news with #ABNAMRO
Reuters
5 days ago
- Business
- Reuters
ECB to keep rates steady as trade conflict clouds economic outlook
FRANKFURT, July 24 (Reuters) - The European Central Bank was set to keep interest rates on hold on Thursday, pausing after seven straight cuts as it waited for the fog surrounding Europe's trade relations with the United States to clear. The ECB has halved its policy rate from 4% to 2% in the space of just one year after taming a surge in prices that followed the end of the COVID-19 pandemic and Russia's invasion of Ukraine. With inflation now back at its 2% goal and expected to stay there, euro zone central bankers were likely to stay put this week and observe what kind of tariffs President Donald Trump's U.S. administration would impose on the European Union after an August 1 deadline for talks. "The ECB is widely expected to keep policy on hold this week, as uncertainty prevails with no trade deal yet on the horizon between the U.S. and EU," Christophe Boucher, chief investment officer at ABN AMRO Investment Solutions, said. The tense and unpredictable trade talks between Washington and Brussels have made policy-making difficult. Trump's threat to impose a 30% duty on EU goods exported to the United States - a steeper tariff than the ECB had anticipated under even the most negative of three scenarios it released last month - has forced President Christine Lagarde and her colleagues on the ECB's Governing Council to contemplate lower outcomes for growth and inflation. However, two diplomats said on Wednesday the EU and the U.S. were heading towards a deal that would result in a broad tariff of 15% applying to EU goods. "Even in the case of a benign outcome (i.e. U.S. tariffs around 10%) we still see scope for further easing as the disinflation process broadens," MUFG's Europe economist Henry Cook said. Investors generally expect one more ECB rate cut by the end of the year, most likely in December. Among the deals that have been struck so far and could serve as a template for the EU, Japan negotiated a 15% tariff rate, Indonesia 20% and Britain, which runs a trade deficit with the United States, 10%. "The key point is that tariffs look likely to be higher and more varied across countries than the 10% flat baseline that many had assumed would be the end-point of tariff negotiations," BNP Paribas's head of developed markets economics Paul Hollingsworth said. The ECB assumes that U.S. tariffs will push down growth and, if there is no EU retaliation, inflation over the medium term. The euro zone economy is already barely growing and companies, while still optimistic about an upturn ahead, are starting to feel the pinch from tariffs on their profits. "The risks are still weighted towards weaker growth outcomes for Europe," economists at Deutsche Bank wrote. "This in turn points to disinflationary risk, particularly if a trade shock were to become a labour market shock." On the other hand, banks have seen rising loan demand and policy uncertainty has not yet translated into an economic or market downturn. After a short-lived selloff in April investors have taken the trade turmoil in their stride, with European equity indices close to new highs also thanks to Germany's newly found appetite for spending. In fact, erratic policy-making in the United States, including Trump's relentless criticism of the Federal Reserve, has lured foreign investors to euro zone assets, briefly pushing the euro to the highest level against the dollar since September 2021 at $1.1829 earlier this month. ECB board member and outspoken hawk Isabel Schnabel even said the central bank should watch out for price hikes caused by tariffs and the bar for further cuts was "very high". But the euro's appreciation has unnerved other policymakers, who fear a stronger currency would make European exports less competitive and contribute to pushing down inflation. "On that front, we would expect Christine Lagarde to strike a reassuring tone, reminding people that the ECB does not target exchange rates but that any resulting downward pressure on inflation will be addressed, if necessary," Julien Lafargue, chief market strategist at Barclays Private Bank, said.
Yahoo
08-07-2025
- Business
- Yahoo
Dutch bank ABN AMRO finalizes acquisition of German private bank HAL
Dutch bank ABN AMRO on Tuesday said it has completed the take over of leading German private bank Hauck Aufhäuser Lampe (HAL), marking a major step in its expansion into the German market. The legal closing of the deal, initially announced over a year ago and finalized in May 2024, took place on Monday, according to ABN AMRO. The Dutch bank with its German branch, Bethmann Bank, is significantly expanding its German business with the integration of Frankfurt-based HAL. "The takeover will make Germany our second-largest market," said ABN AMRO chief executive Marguerite Bérard. The bank is aiming for a leading role in asset management and corporate banking in Germany, she noted. The combined entity will serve a client base including high-net-worth individuals, family-owned businesses, corporations, institutional investors and independent asset managers. Together, ABN AMRO and HAL will operate with around 2,000 employees across 18 locations in Germany and Luxembourg. The existing brands are to be retained. From 2028 onwards, ABN AMRO expects the integration of the business areas to generate synergies of at least €60 million ($70.7 million) before tax annually. ABN AMRO Germany chief executive Hans Hanegraaf said: "Our goal is to complete the integration, probably by the end of 2026, in terms of corporate law, operations and culture." The history of Hauck Aufhäuser Lampe dates back to 1796. The Chinese conglomerate Fosun, founded by billionaire Guo Guangchang, acquired the bank in 2015. Bankhaus Lampe was added to the group in 2021. Sign in to access your portfolio
Finextra
30-06-2025
- Business
- Finextra
Supermarket receipts inform people who are difficult to reach about free help with banking
Not everyone in the Netherlands finds it easy to manage their own banking. 0 In fact, one in six Dutch people occasionally runs into problems. These people are often less skilled digitally or have low literacy levels. Banks find it challenging to reach these groups, which makes it harder for them to provide adequate support. A new initiative - a message on the receipts of PLUS supermarket in Waalwijk - tells people where they can get free assistance. In this way, ABN AMRO aims to show that help is at hand for those who need it. Starting Saturday 28 June, customers shopping at the PLUS supermarket in the Dutch town of Waalwijk will receive a receipt bearing a short message written in simple language. The receipt doesn't offer an actual solution to the problem, but it does point them to where they can get help with banking. This comes in the form of a free helpline where they can speak to an adviser, making it easier for people who are usually hard to reach to find help. Gudy van der Wal, Director of Financial Accessibility at ABN AMRO: 'We've known for a while that there's a strong need for support with everyday banking matters, such as digital banking and making transfers. With ABN AMRO Helps, we want to be here for everyone, including people we can't easily reach at the moment. That's why we're always looking for new ways to engage with these clients. This receipt is one of those ways. We were thrilled that Stephan van Engelen, supermarket manager at PLUS Waalwijk, reacted enthusiastically straight away.' No one should be left behind 'In a society that is becoming increasingly digital, it's crucial that no one is left behind,' says Olaf Nouwens, Accessibility Policy Officer at Senioren Brabant-Zeeland. 'Many seniors would like to manage their own banking affairs, but they sometimes need someone to help them get started. It's essential that assistance isn't only available, but that it is also visible and close at hand. This receipt can truly make a difference for people.' Lowering the threshold to getting help with banking Research shows that one in six Dutch people sometimes needs help with banking, but many don't know where to find it. This is especially true for people who struggle with reading or have little experience with computers. Pointing the way to free help on the receipt lowers the threshold to seeking support. Anyone with questions about making payments or doing their banking securely can get help by phone free of charge. This initiative is part of a broader approach to making financial services accessible to all clients, regardless of age, education or digital skills. National rollout if successful ABN AMRO is exploring whether this approach helps reach more people with appropriate support. If the initiative proves successful, it may be expanded to other areas. 'This way, we're building step by step towards a future where everyone can participate, at a pace and in a way that's right for the individual,' concludes Van der Wal.
Yahoo
25-06-2025
- Business
- Yahoo
ABN AMRO Bank N.V.'s (AMS:ABN) largest shareholders are state or government with 42% ownership, institutions own 29%
ABN AMRO Bank's significant state or government ownership suggests that the key decisions are influenced by shareholders from the larger public 52% of the business is held by the top 4 shareholders Institutional ownership in ABN AMRO Bank is 29% Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A look at the shareholders of ABN AMRO Bank N.V. (AMS:ABN) can tell us which group is most powerful. We can see that state or government own the lion's share in the company with 42% ownership. Put another way, the group faces the maximum upside potential (or downside risk). And institutions on the other hand have a 29% ownership in the company. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Let's delve deeper into each type of owner of ABN AMRO Bank, beginning with the chart below. Check out our latest analysis for ABN AMRO Bank Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. As you can see, institutional investors have a fair amount of stake in ABN AMRO Bank. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at ABN AMRO Bank's earnings history below. Of course, the future is what really matters. We note that hedge funds don't have a meaningful investment in ABN AMRO Bank. Looking at our data, we can see that the largest shareholder is NL Financial Investments with 40% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 4.8% and 4.4%, of the shares outstanding, respectively. On looking further, we found that 52% of the shares are owned by the top 4 shareholders. In other words, these shareholders have a meaningful say in the decisions of the company. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. We note our data does not show any board members holding shares, personally. Given we are not picking up on insider ownership, we may have missing data. Therefore, it would be interesting to assess the CEO compensation and tenure, here. The general public, who are usually individual investors, hold a 29% stake in ABN AMRO Bank. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with ABN AMRO Bank (at least 1 which makes us a bit uncomfortable) , and understanding them should be part of your investment process. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Reuters
20-06-2025
- Business
- Reuters
World markets on oil watch as Middle East tensions flare
LONDON, June 20(Reuters) - Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel/Iran tensions flare-up. Although relatively contained, the rise has not gone unnoticed just three years after Russia's invasion of Ukraine triggered a surge in energy prices that ramped up global inflation and sparked aggressive interest rate hikes. Here's a look at what rising oil means for world markets. Oil prices have crept rather than surged higher with investors taking comfort from no noticeable interruption to oil flows. Still, pay attention. The premium of first-month Brent crude futures contract to that for delivery six months later this week rose to a six-month high as investors priced in an increased chance of disruptions to Middle East supply . It remained elevated on Friday. Trading at around $77 a barrel , oil is below 2022's $139 high, but is nearing pain points. "If oil goes into the $80-100 range and stays there, that jeopardizes the global economy," said ABN AMRO Solutions CIO Christophe Boucher. "We are just below that threshold." Traders have an eye on shipping, often seen as a key energy bellwether. About a fifth of the world's total oil consumption passes through the Hormuz Strait between Oman and Iran. Disruption here could push oil above $100, analysts say. Blocked shipping routes would compound any supply shock. Though the big oil producing countries that make up OPEC+ have promised an extra 1.2 million barrels a day, none has yet been shipped or delivered, said hedge fund Svelland Capital director, Nadia Martin Wiggen. Blocked shipping routes would mean this expected supply would not come into the international market, she said. She's watching freight rates closely. "So far, freight rates show that China, with the world's biggest spare refining capability, hasn't started panic buying oil on supply concerns," said Wiggen. "Once China starts to buy, freight rates will rise, and world's energy prices will follow." Rising oil prices raise worries because they can lift near-term inflation and hurt economic growth by squeezing consumption. High oil prices work like a tax, say economists, especially for net energy importers such as Japan and Europe as oil is hard to substitute in the short term. Lombard Odier's chief economist Samy Chaar said that sustained oil prices above $100 a barrel would shave 1% off global economic growth and boost inflation by 1%. Unease rose after Israel launched its strike on Iran a week ago. An initial rally in safe-haven bonds soon evaporated as focus turned to the inflationary impact of higher oil. The euro zone five-year, five-year forward, a closely-watched gauge of market inflation expectations, climbed to its highest level in almost a month . "In the United States $75 oil is enough to, if it's sustained, boost our CPI forecast by about half a percent by the year end, to go from 3 to 3.5%," said RBC chief economist Frances Donald. Turkey, India, Pakistan, Morocco and much of eastern Europe where oil is heavily imported are set to be hit hardest by the rise in crude prices. Those that supply it; Gulf countries, Nigeria, Angola, Venezuela and to some degree Brazil, Colombia and Mexico should get a boost to their coffers, analysts say. A shift is taking place in the dollar. In recent years the currency has risen when oil rallies, but it has had only limited support from oil's latest rise, with a weekly gain of just 0.4% . Analysts expect the dollar's downward trend to resume, given expectations of limited Middle East risks for now and underlying bearish sentiment. It has weakened around 9% so far this year against other major currencies, hurt by economic uncertainty and concern about the reliability of U.S. President Donald Trump's administration as a trading and diplomatic partner. No doubt, a weaker dollar heals the sting from higher oil, which is priced in dollars. "For oil-importing countries, the dollar's fall offers some relief, easing the impact of soaring oil prices and mitigating wider economic strain," UniCredit said. In the absence of an oil-supply shock, world stocks are happy to stick near all-time highs. "Investors want to look past this until there's a reason to believe this will be a much larger regional conflict," said Osman Ali, Goldman Sach's Asset Management's global co-head of Quantitative Investment Strategies. Gulf markets sold off on the initial news, then stabilised somewhat, helped by the higher oil prices. U.S. and European energy shares, particularly oil and gas companies have outperformed (.SPNY), opens new tab, (.SXEP), opens new tab, as have defence stocks. (.SXPARO), opens new tab Israeli stocks, (.TA125), opens new tab up 6% in a week, have been the most notable outperformer. Stocks of oil consumers have been the worst hit, airlines stand out.
