The Dutch bank will stop all non-European corporate financing, which accounts for around 45% of its current client loan portfolio, and will wind down units in the United States, Asia, Australia and Brazil, in a process expected to take around three to four years.
"The Trade & Commodity Finance activities will be exited, and in Natural Resources and Transportation & Logistics we will focus on European clients only," chief executive officer Robert Swaak said in a note to shareholders.
"Stricter lending criteria and credit...
