ABN Amro plans to cut 5,200 jobs by 2028, affecting over 20% of employees across all divisions, including Hauck Aufhäuser Lampe and NIBC Bank. The bank aims to achieve a return on equity of at least 12% and a cost-to-income ratio below 55% by 2028.

The strategic plan focuses on profitable growth, reducing costs, and strengthening Dutch retail banking. ABN Amro will lower capital allocation to its corporate bank, simplify its structure, and invest in digital initiatives like Tikkie and BUUT.

CEO Marguerite Bérard outlined the bank’s goals, including becoming a top-five private bank in Europe and supporting key European transitions. ABN Amro also agreed to sell its personal loan subsidiary Alfam to Rabobank to improve its capital ratio.

The sale is expected to close in the third quarter of 2026, with ABN Amro continuing to offer personal loans through a third-party arrangement. The bank’s leadership team will remain stable, pending regulatory approval, with plans to support affected employees with a robust social plan.

Read more at Yahoo Finance: ABN Amro to axe 5,200 jobs by 2028 to reduce costs