ABN Amro quits commodity finance in major restructuring

ABN Amro will end its financing activities of commodity clients globally, it said on Wednesday August 12.

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...

Published

Archie Hunter

August 12, 2020

09:50 GMT

London