09/02/2022 - ABN Amro Bank NV: Factsheet 2021 Q4

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Factsheet 2021 q4
ABN AMRO Factsheet

Table of Contents

GENERAL COMMENTS
In addition to this factsheet, please also refer to the Q4 2021 quarterly report (which is leading in case of inconsistencies), press release and the investor presentation on www.abnamro.com/investorrelations
Minor changes have been made to the following tabs: 1.1 (row 19-37), 2.2 (row 10-11), 2.5 (row 9-22), 2.7 (all rows and columns), 4.1 (row 10-14)
Rounding could cause some small differences
All figures are unaudited
Quarterly information
1 ABN AMRO P&L 2 Balance sheet and capital 3 Segment information 4 Risk management 5 Additional information
1.1 Quarterly P&L development 2.1 Consolidated Balance sheet 3.1 Retail Banking per Q 4.1 Cost of risk 5.1 Volatile items (XVA, Hedge accounting & Equity participations) and Regulatory levies
1.2 Quarterly result per segment 2.2 Loans and advances - customers 3.2 Commercial Banking per Q 5.2 Actuals vs Consensus
1.3 P&L 2.3 Due to customers 3.3 Private Banking per Q 5.2b Disclosed large items
2.4 Capital | Basel III 3.4 Corp. & Inst. Banking per Q
2.5 Leverage ratio 3.5 Group Functions per Q
2.6 Additional information Tier 1
2.7 Liquidity
2.8 Client assets

1.1 Quart. P&L develop.

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Quarterly results (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 1,339 1,202 1,306 1,363 1,353 1,469 1,514 1,527 1,586 1,628 1,681 1,573
Net fee and commission income 446 413 399 406 387 359 375 438 396 409 413 414
Other non-interest income 499 119 27 79 60 379 96 - 41 119 63 228 94
Operating income 2,284 1,734 1,732 1,847 1,800 2,207 1,985 1,924 2,101 2,101 2,321 2,081
Personnel expenses 571 575 600 579 563 658 528 531 583 543 555 567
Other expenses 863 727 628 1,264 838 699 670 770 802 704 755 760
Operating expenses 1,433 1,301 1,228 1,843 1,401 1,357 1,198 1,300 1,384 1,247 1,310 1,327
Operating result 851 432 504 4 400 850 786 624 717 854 1,012 754
Impairment charges on financial instruments 121 - 12 - 79 - 77 220 270 703 1,111 314 112 129 102
Profit before taxes 729 444 583 81 180 580 83 - 487 403 742 883 652
Income taxes 177 102 190 135 126 279 88 - 92 87 184 190 174
Profit/(loss) for the period 552 343 393 - 54 54 301 - 5 - 395 316 558 693 478
Attributable to:
Owners of the parent company excl. coupons attributable to AT1 capital securities 529 320 368 - 77 32 263 - 33 - 421 289 532 667 452
Coupons attributable to AT1 capital securities 23 23 23 23 22 37 28 26 26 26 26 26
Non-controlling interests 0 0 2 0 - - - - - - - 0 0
NIM (in bps) 128 117 128 134 130 140 147 155 162 163 170 160
Cost/income ratio 62.8% 75.1% 70.9% 99.8% 77.8% 61.5% 60.4% 67.6% 65.9% 59.4% 56.4% 63.8%
Cost of risk (in bps) 11 - 2 - 23 - 13 35 42 99 132 46 16 18 15
Return on average Equity 10.8% 6.5% 7.6% -1.6% 0.7% 5.6% -0.7% -8.7% 6.0% 11.0% 13.6% 9.2%
Earnings per share 0.56 0.34 0.39 - 0.08 0.03 0.28 - 0.03 - 0.45 0.31 0.57 0.71 0.48
Client assets (end of period, in EUR billion) 313.6 306.0 304.9 300.4 289.3 283.4 280.5 265.7 296.5 300.8 309.2 302.2
Risk-weighted assets (end of period, in EUR billion) 117.7 110.6 107.2 112.0 110.5 114.1 112.1 111.7 109.8 105.6 106.6 108.0
Number of employees (end of period, in FTEs) 19,957 19,700 19,639 19,417 19,234 18,952 18,684 18,362 17,977 17,813 17,952 18,962
Number of non-employees (end of period, in FTEs) 6,524 6,238 5,954 5,648 5,621 5,391 4,936 4,984 4,749 4,370 4,152 4,362
Average Equity (IFRS) 19,605 19,755 19,420 19,327 18,978 18,845 18,772 19,450 19,272 19,345 19,583 19,619
Average RWA 109,868 109,807 110,976 110,764 112,487 111,304 112,821 111,713 106,672 106,491 109,097 106,881
Average loans and advances customers (gross) 257,097 249,929 251,234 254,650 259,235 264,416 272,584 270,932 270,542 273,116 273,952 272,677
Average Total Assets 416,909 411,710 408,044 405,433 415,751 420,329 411,575 395,010 392,499 399,958 396,180 392,192

1.2 Quart. result per seg.

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Quarterly results (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Retail Banking - 18 - 32 163 152 167 190 180 150 134 269 200 263
Commercial Banking - 8 155 156 103 4 71 81 - 31 72 111 159 110
Private Banking 64 66 52 53 31 227 19 28 46 44 66 40
Corporate & Institutional Banking 149 72 41 116 - 58 - 240 - 319 - 575 - 4 110 110 76
Group Functions 365 81 - 19 - 477 - 89 53 35 34 69 23 159 - 11
ABN AMRO Bank 552 343 393 - 54 54 301 - 5 - 395 316 558 693 478

1.3 P&L

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Reported results (ABN AMRO)
(in millions) 2021 2020
Interest income 7,017 7,815
Interest expense 1,808 1,952
Net interest income 5,210 5,863
Fee and commission income 2,213 2,253
Fee and commission expense 550 695
Net fee and commission income 1,664 1,558
Income from other operating activities 805 462
Expenses from other operating activities 142 148
Net income from other operating activities 663 314
Net trading income 145 163
Share of result in equity accounted investments 23 29
Net gains/(losses) on derecognition of financial assets measured at amortised cost - 108 - 11
Operating income 7,597 7,916
Personnel expenses 2,324 2,280
General and administrative expenses 3,287 2,677
Depreciation and amortisation of tangible and intangible assets 194 299
Operating expenses 5,806 5,256
Operating result 1,791 2,660
Impairment charges on financial instruments - 46 2,303
Profit before taxes 1,838 356
Income tax expenses 604 401
Profit for the year 1,234 - 45
Attributable to:
Owners of the parent company excl. coupons attributable to AT1 capital securities 1,221 - 158
Coupons attributable to AT1 capital securities 10 113
Non-controlling interests 3 -
Other indicators (ABN AMRO)
2021 2020
NIM (in bps) 127 143
Cost/income ratio 76.4% 66.4%
Cost of risk (in bps) -7 78
Return on average Equity (IFRS) 5.8% -0.8%

2.1. Consolidated Balance sheet

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Statement of condensed financial position (ABN AMRO)
(in millions) 31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019 31 December 2018
Cash and balances at central banks 66,865 73,249 72,447 63,735 60,190 59,073 55,914 27,644 27,558 29,021 30,542 29,418 35,765
Financial assets held for trading 1,155 2,435 2,385 2,195 1,315 2,765 3,397 1,988 1,137 1,963 1,699 1,618 495
Derivatives 3,785 4,510 4,779 5,537 6,381 6,837 7,629 8,268 5,730 7,761 6,491 6,786 6,191
Financial investments 43,165 43,364 42,543 43,975 47,455 47,733 49,081 47,214 45,277 46,457 44,915 44,319 42,184
Securities financing 16,138 24,188 27,809 28,339 16,725 27,775 27,130 26,076 14,905 24,055 21,007 18,588 12,375
Loans and advances banks 2,801 4,041 3,731 4,571 3,394 5,211 5,409 6,337 5,011 6,418 6,080 7,031 6,780
Loans and advances customers 258,251 253,774 246,401 250,700 252,159 261,221 266,694 277,457 267,604 275,601 275,253 276,697 270,837
Other 6,955 11,465 11,368 10,911 8,005 9,335 9,480 10,920 7,831 8,875 10,209 9,771 6,668
Total assets 399,113 417,026 411,464 409,963 395,623 419,949 424,733 405,903 375,054 400,152 396,196 394,228 381,295
Financial liabilities held for trading 687 1,279 1,726 1,120 563 1,110 1,281 1,222 675 1,199 1,097 1,117 253
Derivatives 4,344 5,003 5,155 5,919 7,391 8,524 9,586 10,396 6,505 10,126 7,849 7,779 7,159
Securities financing 9,494 19,056 19,824 19,280 11,363 19,063 18,933 18,106 8,234 12,982 12,452 10,757 7,407
Due to banks 38,076 42,910 40,584 37,924 36,719 37,417 39,908 21,724 12,785 14,649 16,511 15,960 13,437
Due to customers 251,218 248,988 246,066 245,586 238,570 248,456 245,691 238,168 234,991 248,231 242,745 243,507 236,123
Issued debt 59,688 64,495 63,619 64,628 66,949 70,912 73,580 77,552 75,275 75,356 74,986 73,902 80,784
Subordinated liabilities 7,549 6,599 6,578 8,172 8,069 8,282 8,685 10,347 10,041 10,198 9,958 9,999 9,805
Other 6,059 6,769 6,375 6,169 5,010 5,352 5,467 7,651 5,076 6,417 9,284 9,584 4,967
Total liabilities 377,114 395,099 389,927 388,797 374,634 399,117 403,131 385,166 353,582 379,157 374,881 372,605 359,935
Equity attributable to the owners of the parent company 21,994 21,922 21,533 21,163 20,989 20,831 21,602 20,737 21,471 20,995 21,314 21,620 21,357
o/w AT1 Capital securities 1,987 1,987 1,987 1,987 1,987 1,987 2,976 1,983 1,987 1,986 2,008 1,990 2,008
Equity attributable to non-controlling interests 5 5 5 3 - 0 - 0 - 0 - 0 - 0 - 0 - 0 2 2
Total equity 21,999 21,927 21,538 21,166 20,989 20,831 21,602 20,737 21,471 20,995 21,314 21,623 21,360
Total liabilities and equity 399,113 417,026 411,464 409,963 395,623 419,949 424,733 405,903 375,054 400,152 396,196 394,228 381,295

2.2. L&A - customers

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Loans and advances - customers (ABN AMRO)
(in millions) 31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019
Residential mortgages 146,351 146,696 146,516 145,920 145,672 146,521 146,982 147,588 148,225
Consumer loans 10,794 10,762 10,772 10,927 11,232 11,450 11,576 11,903 12,294
Corporate loans to clients 77,965 73,311 71,271 76,056 78,587 84,000 88,735 92,832 89,756
- of which Commercial Banking 41,967 40,027 39,734 39,834 39,838 40,711 41,120 41,311 41,500
- of which Corporate & Institutional Banking 28,529 26,039 24,363 28,973 31,560 36,141 40,651 44,396 41,136
Total client loans 235,110 230,769 228,558 232,903 235,491 241,971 247,293 252,323 250,276
Loans to professional counterparties and other loans 23,605 23,079 17,687 18,068 16,297 18,841 19,027 24,441 16,412
Total Loans and advances - customers, gross carrying amount excl. fair value adjustment from hedge accounting 258,715 253,848 246,246 250,971 251,788 260,813 266,321 276,764 266,687
Fair value adjustments from hedge accounting 1,951 2,490 2,805 3,014 3,838 3,911 3,942 3,659 3,342
Less: loan impairment allowance 2,416 2,564 2,649 3,284 3,467 3,503 3,569 2,966 2,426
Total Loans and advances customers* 258,251 253,774 246,401 250,700 252,159 261,221 266,694 277,457 267,604
Retail Banking 147,677 148,441 148,562 148,318 148,467 149,767 150,459 151,371 152,437
Commercial Banking 41,389 39,543 39,156 39,225 39,213 40,148 40,682 41,961 41,785
Private Banking 15,852 15,273 14,946 14,828 14,567 14,276 13,961 14,056 14,071
Corporate & Institutional Banking 50,594 47,235 40,114 44,511 45,262 52,301 56,819 65,586 55,141
Group Functions 2,739 3,282 3,624 3,817 4,650 4,728 4,773 4,483 4,171
Total Loans and advances customers 258,251 253,774 246,401 250,700 252,159 261,221 266,694 277,457 267,604

2.3. Due to customers

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Due to customers (ABN AMRO)
(in millions) 31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019
Retail Banking 87,284 88,751 89,878 90,016 89,038 91,397 93,800 89,594 90,359
Commercial Banking 56,331 53,721 52,120 51,674 52,537 51,475 49,239 46,801 46,269
Private Banking 63,333 60,189 59,721 60,296 61,513 64,367 64,535 62,760 69,153
Corporate & Institutional Banking 38,088 33,656 29,851 30,068 28,680 28,527 28,568 32,871 26,481
Group Functions 6,182 12,671 14,496 13,532 6,802 12,689 9,549 6,141 2,729
Total Due to customers 251,218 248,988 246,066 245,586 238,570 248,456 245,691 238,168 234,991
Current accounts 132,983 121,982 114,865 112,251 111,033 107,824 103,338 98,900 91,900
Demand deposits 98,790 101,154 103,060 106,008 107,534 113,571 116,165 113,468 120,892
Time deposits 18,780 25,097 27,287 26,382 19,037 25,861 25,057 24,684 21,232
Total deposits 250,553 248,233 245,212 244,642 237,604 247,257 244,560 237,052 234,023
Other financial liabilities 665 755 854 944 966 1,199 1,131 1,115 967
Total Due to customers 251,218 248,988 246,066 245,586 238,570 248,456 245,691 238,168 234,991

2.4. Capital | Basel III

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Regulatory capital Basel III (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019
(in millions)
Total Equity (IFRS) 21,999 21,927 21,538 21,166 20,989 20,831 21,602 20,737 21,471
Dividend reserve - 573 - 945 - 785 - 639 - 639 - 639 - 639 - 639 - 668
AT1 Capital securities - 1,987 - 1,987 - 1,987 - 1,987 - 1,987 - 1,987 - 2,976 - 1,983 - 1,987
Other regulatory adjustments - 233 676 869 979 1,185 1,472 1,367 1,201 1,097
Common Equity Tier 1 19,206 19,672 19,635 19,519 19,548 19,677 19,355 19,315 19,913
AT1 Capital securities 1,987 1,987 1,987 1,987 1,987 1,987 2,976 1,983 1,987
Other regulatory adjustments - 5 - 5 - 5 - 5 - 5 - 5 0 - 1 - 5
Tier 1 Capital 21,188 21,654 21,617 21,501 21,530 21,659 22,330 21,298 21,895
Subordinated liabilities (EU IFRS) 7,549 6,599 6,578 8,172 8,069 8,282 8,685 10,347 10,041
Regulatory adjustments - 2,413 - 2,309 - 2,259 - 3,699 - 3,405 - 3,194 - 3,522 - 3,541 - 3,505
Tier 2 Capital 5,136 4,289 4,319 4,472 4,664 5,089 5,163 6,806 6,536
Total regulatory Capital 26,324 25,943 25,936 25,973 26,195 26,748 27,493 28,105 28,431
Risk-weighted assets (risk exposure amount) and capital ratios
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019
(in millions)
Credit Risk (RWA) 99,976 94,655 91,537 94,369 92,462 94,955 92,469 91,412 89,071
Operational Risk (RWA) 16,049 14,054 13,730 15,616 16,685 17,352 17,680 18,148 19,391
Market Risk (RWA) 1,668 1,857 1,926 2,051 1,334 1,816 1,908 2,144 1,362
Risk-weighted assets 117,693 110,565 107,194 112,035 110,481 114,123 112,057 111,704 109,825
Common Equity Tier 1 ratio 16.3% 17.8% 18.3% 17.4% 17.7% 17.2% 17.3% 17.3% 18.1%
Tier 1 ratio 18.0% 19.6% 20.2% 19.2% 19.5% 19.0% 19.9% 19.1% 19.9%
Total Capital ratio 22.4% 23.5% 24.2% 23.2% 23.7% 23.4% 24.5% 25.2% 25.9%

2.5. Leverage ratio

2.6. Additional inf. Tier 1

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Common Equity Tier 1 ratio - additional information (ABN AMRO)
(in millions) 31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019
ABN AMRO Bank
Common Equity Tier 1 capital 19,206 19,672 19,635 19,519 19,548 19,677 19,355 19,315 19,913
Risk-weighted assets 117,693 110,565 107,194 112,035 110,481 114,123 112,057 111,704 109,825
Common Equity Tier 1 ratio 16.3% 17.8% 18.3% 17.4% 17.7% 17.2% 17.3% 17.3% 18.1%
Common Equity Tier 1 ratio - Trigger1) 7.000% 7.000% 7.000% 7.000% 7.000% 7.000% 7.000% 7.000% 7.000%
ABN AMRO Bank Solo consolidated
Common Equity Tier 1 capital not available 19,785 19,717 19,615 19,645 19,780 19,461 19,425 20,014
Risk-weighted assets not available 115,510 112,195 114,902 113,549 118,329 117,588 116,217 114,702
Common Equity Tier 1 ratio not available 17.1% 17.6% 17.1% 17.3% 16.7% 16.6% 16.7% 17.4%
Common Equity Tier 1 ratio - Trigger1) 5.125% 5.125% 5.125% 5.125% 5.125% 5.125% 5.125% 5.125% 5.125%
Distributable items: ABN AMRO Bank N.V. (unconsolidated)
Share premium reserve 12,970 12,970 12,970 12,970 12,970 12,970 12,970 12,970 12,970
Other reserves incl. retained earnings 7,315 7,397 7,097 6,701 6,773 6,744 6,513 6,523 7,229
Actuarial gains and losses - 6 - 23 - 24 - 24 - 24 - 21 - 20 - 20 - 8
Cash Flow Hedge reserve - 1,540 - 1,610 - 1,632 - 1,638 - 1,854 - 1,930 - 1,917 - 1,818 - 1,648
Distributable items 18,739 18,734 18,411 18,009 17,865 17,764 17,546 17,654 18,544
1) Following the legal merger of ABN AMRO Group NV into ABN AMRO Bank NV (effective as of 29 June 2019) the 7.0% trigger that initially applied to ABN AMRO Group now applies to ABN AMRO Bank. The ABN AMRO Bank Solo consolidated trigger of 5.125% has not changed following the legal merger.

2.7. Liquidity

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Liquidity parameters (ABN AMRO)
31 December 2021 30 June 2021 31 December 2020 30 June 2020 31 December 2019 30 June 2019 31 December 2018
Loan to deposit ratio 102.8% 100.1% 105.7% 108.5% 114.1% 113.5% 111.4%
LCR 156% 166% 149% 133% 134.0% >100% >100%
NSFR >100% >100% >100% >100% 114.0% >100% >100%
Survival period (months) >12 months > 12 months > 12 months > 12 months > 12 months > 12 months > 12 months
Available Liquidity buffer (in EUR billion) 101.5 108.5 106.3 107.6 80.5 83.1 84.5

2.8. Client Assets

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Client Assets (ABN AMRO)
(in billions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Client Assets - Private Banking
Cash and deposits 63.3 60.2 59.8 60.4 61.7 64.5 64.6 62.8 69.2 70.7 71.1 69.9
Securities 150.6 145.0 143.3 138.6 127.9 116.3 112.4 104.5 126.0 124.6 130.8 127.4
Total Client Assets - Private Banking 213.9 205.2 203.2 199.0 189.6 180.8 177.0 167.3 195.2 195.3 201.9 197.3
Net new assets 2.6 1.4 - 2.9 0.3 - 1.0 1.2 - 2.7 - 6.2 - 5.7 0.9 1.4 1.0
Client Assets - Retail Banking
Cash and deposits 87.3 88.8 89.9 90.0 89.0 93.0 93.8 89.6 90.4 94.8 96.4 94.1
Securities 12.4 12.0 11.8 11.4 10.6 9.6 9.7 8.9 11.0 10.7 10.9 10.9
Total Client Assets - Retail Banking 99.7 100.8 101.7 101.4 99.7 102.6 103.5 98.5 101.3 105.5 107.3 105.0
Total Client Assets 313.6 306.0 304.9 300.4 289.3 283.4 280.5 265.7 296.5 300.8 309.2 302.2

3.1 Retail Banking per Q

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Results Retail Banking (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 462 397 565 608 648 656 656 678 676 729 746 752
Net fee and commission income 87 83 69 73 76 68 73 86 93 96 90 85
Other non-interest income 9 38 58 23 24 28 11 4 23 6 13 15
Operating income 558 518 692 704 748 752 741 768 792 831 849 852
Personnel expenses 102 104 104 105 104 103 105 97 110 99 101 101
Other expenses 472 449 389 437 434 387 380 406 437 369 466 396
Operating expenses 574 553 493 543 538 490 485 502 546 468 567 498
Operating result - 16 - 35 199 161 211 262 256 265 246 363 282 355
Impairment charges on financial instruments - 12 7 - 1 - 35 - 19 13 16 67 58 5 17 2
Profit before taxes - 4 - 42 200 197 230 249 240 198 188 358 265 353
Income tax expenses 14 - 11 37 44 63 58 60 48 55 89 65 90
Profit/(loss) for the period - 18 - 32 163 152 167 190 180 150 134 269 200 263
Cost/income ratio 103% 107% 71% 77% 72% 65% 65% 65% 69% 56% 67% 58%
Cost of risk (in bps) * - 4 2 - 0 - 8 - 4 4 3 14 15 1 4 0
Other indicators Retail Banking (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019
Loans and advances customers (in EUR billion) 147.7 148.4 148.6 148.3 148.5 149.8 150.5 151.4 152.4 154.6 153.8 153.7
Of which: Client loans (in EUR billion) 148.0 148.7 148.9 148.6 148.8 150.1 150.8 151.8 152.8 154.9 154.1 154.1
Due to customers (in EUR billion) 87.3 88.8 89.9 90.0 89.0 91.4 93.8 89.6 90.4 94.8 96.4 94.1
Risk-weighted assets (in billion) 34.2 28.2 28.0 28.8 26.7 27.3 27.2 27.6 28.4 27.9 27.9 27.8
Employee FTEs (end of period) 4,518 4,458 4,479 4,518 4,525 4,481 4,443 4,405 4,340 4,340 4,375 4,434

3.2 Commercial Banking per Q

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Results Commercial Banking (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 363 358 358 362 358 369 371 373 370 378 385 389
Net fee and commission income 68 64 63 61 69 61 59 67 64 66 63 63
Other non-interest income 10 7 9 7 6 9 3 9 8 8 6 5
Operating income 441 429 429 431 432 439 433 449 442 453 455 457
Personnel expenses 62 66 66 62 60 61 62 59 74 68 69 70
Other expenses 255 204 202 216 225 181 183 207 211 187 162 177
Operating expenses 317 271 268 279 285 243 245 266 284 255 231 247
Operating result 124 159 161 152 147 197 188 183 157 198 224 210
Impairment charge on financial instruments 122 - 47 - 50 16 134 102 81 225 58 50 12 61
Profit before taxes 2 206 211 136 13 95 108 - 43 99 147 211 149
Income tax expenses 10 51 55 33 10 24 27 - 11 27 36 53 38
Profit/(loss) for the period - 8 155 156 103 4 71 81 - 31 72 111 159 110
Cost/income ratio 72% 63% 62% 65% 66% 55% 57% 59% 64% 56% 51% 54%
Cost of risk (in bps)* 113 - 56 - 50 3 132 118 57 202 55 47 10 55
Other indicators Commercial Banking (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019
Loans and advances customers (in EUR billion) 41.4 39.5 39.2 39.2 39.2 40.1 40.7 42.0 41.8 42.6 42.9 42.9
Of which: Client loans (in EUR billion) 42.6 40.6 40.3 40.3 40.4 41.3 41.7 42.9 42.6 43.3 43.6 43.5
Due to customers (in EUR billion) 56.3 53.7 52.1 51.7 52.5 51.5 49.2 46.8 46.3 45.9 45.3 45.4
Risk-weighted assets (in billion) 29.5 28.6 27.7 29.1 29.2 30.6 30.7 30.0 29.2 27.2 27.7 28.0
Employee FTEs (end of period) 2,331 2,263 2,250 2,224 2,197 2,172 2,175 2,136 2,470 2,420 2,404 2,528

3.3 Private Banking per Q

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Results Private Banking (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 153 161 159 162 154 163 167 153 158 162 173 174
Net fee and commission income 162 154 145 141 130 123 119 129 132 126 126 125
Other non-interest income 15 7 9 8 - 4 269 15 6 13 7 24 7
Operating income 330 322 313 311 280 556 301 289 302 295 323 307
Personnel expenses 97 98 101 94 100 92 89 90 111 92 94 97
Other expenses 140 139 136 147 133 139 158 144 125 131 134 147
Operating expenses 238 237 238 241 234 231 247 233 236 223 228 244
Operating result 92 85 75 69 47 324 54 55 66 72 95 63
Impairment charges on financial instruments - 1 - 4 5 - 6 - 4 - 0 16 14 - 0 9 10 2
Profit before taxes 93 89 70 76 50 324 38 42 66 63 85 61
Income tax expenses 29 23 18 23 20 97 20 14 20 19 19 20
Profit/(loss) for the period 64 66 52 53 31 227 19 28 46 44 66 40
Cost/income ratio 72% 74% 76% 78% 83% 42% 82% 81% 78% 76% 71% 80%
Cost of risk (in bps) 2 - 20 13 - 17 - 10 3 44 37 - 2 23 30 7
Other indicators Private Banking (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019
Loans and advances customers (in EUR billion) 15.9 15.3 14.9 14.8 14.6 14.3 14.0 14.1 14.1 12.6 12.5 12.4
Of which: Client loans (in EUR billion) 16.0 15.4 15.1 15.0 14.7 14.4 14.1 14.2 14.2 12.8 12.7 12.5
Due to customers (in EUR billion) 63.3 60.2 59.7 60.3 61.5 64.4 64.5 62.8 69.2 70.5 67.7 66.3
Risk-weighted assets (in billion) 10.6 10.3 9.7 9.9 10.3 10.5 10.5 10.2 10.1 9.6 10.0 10.1
Employee FTEs (end of period) 2,886 2,867 2,892 2,889 2,848 2,825 2,804 2,872 2,751 2,763 2,923 2,983

3.4 Corp. & Inst. Banking p. Q

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Results Corporate & Institutional Banking (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 229 228 202 244 257 272 292 302 301 311 313 304
Net fee and commission income 135 117 127 136 116 110 136 166 118 127 130 129
Other non-interest income 115 39 - 30 39 18 60 55 - 102 67 23 45 - 3
Operating income 479 384 300 419 392 443 482 366 486 461 488 430
Personnel expenses 101 108 109 112 80 199 101 104 102 111 107 108
Other expenses 194 148 149 203 199 184 149 194 185 160 143 181
Operating expenses 295 256 257 315 279 383 250 298 287 271 250 289
Operating result 184 128 42 104 113 60 232 68 199 190 239 141
Impairment charges on financial instruments 14 35 - 35 - 51 111 154 591 804 199 49 90 38
Profit before taxes 170 93 77 155 2 - 94 - 358 - 736 - 0 142 148 102
Income tax expenses 21 21 35 40 60 146 - 39 - 161 4 31 39 27
Profit/(loss) for the period 149 72 41 116 - 58 - 240 - 319 - 575 - 4 110 110 76
Cost/income ratio 62% 67% 86% 75% 71% 87% 52% 81% 59% 59% 51% 67%
Cost of risk (in bps)* - 23 42 - 86 - 39 86 97 373 412 133 33 57 27
Other indicators Corporate & Institutional Banking (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019
Loans and advances customers (in EUR billion) 50.6 47.2 40.1 44.5 45.3 52.3 56.8 65.6 55.1 60.0 60.5 62.6
Of which: Client loans (in EUR billion) 28.6 26.1 24.4 29.0 31.6 36.1 40.7 44.4 41.2 43.3 43.7 45.4
Due to customers (in EUR billion) 38.1 33.7 29.9 30.1 28.7 28.5 28.6 32.9 26.5 32.0 27.7 31.4
Risk-weighted assets (in billion) 39.5 38.9 37.8 39.9 39.5 41.4 39.2 39.5 37.9 36.5 36.1 36.9
Employee FTEs (end of period) 2,298 2,276 2,356 2,373 2,480 2,507 2,492 2,457 2,517 2,493 2,522 2,504

3.5 Group Functions per Q

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Results Group Functions (ABN AMRO)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Net interest income 131 58 22 - 13 - 64 9 28 21 81 49 64 - 46
Net fee and commission income - 6 - 5 - 5 - 5 - 4 - 4 - 13 - 10 - 10 - 6 3 12
Other non-interest income 351 28 - 19 1 16 13 12 42 9 19 140 69
Operating income 477 81 - 2 - 17 - 52 17 27 53 79 62 207 35
Personnel expenses 209 198 219 205 218 204 171 181 187 173 183 190
Other expenses - 199 - 213 - 247 261 - 154 - 193 - 200 - 181 - 157 - 142 - 149 - 141
Operating expenses 10 - 15 - 28 466 64 10 - 28 - 0 30 31 34 49
Operating result 467 96 26 - 483 - 117 7 56 53 49 30 172 - 14
Impairment charges on financial instruments - 0 - 3 1 - 0 - 2 1 - 0 1 - 1 - 1 0 - 1
Profit before taxes 468 99 25 - 483 - 115 6 56 52 49 32 172 - 13
Income tax expenses 102 18 44 - 6 - 26 - 47 21 18 - 19 8 14 - 1
Profit/(loss) for the period 365 81 - 19 - 477 - 89 53 35 34 69 23 159 - 11
Other Indicators Group Functions (ABN AMRO)
31 December 2021 30 September 2021 30 June 2021 31 March 2021 31 December 2020 30 September 2020 30 June 2020 31 March 2020 31 December 2019 30 September 2019 30 June 2019 31 March 2019
Loans and advances customers (in EUR billion) 2.7 3.3 3.6 3.8 4.7 4.7 4.8 4.5 4.2 5.8 5.5 5.1
Due to customers (in billions) 6.2 12.7 14.5 13.5 6.8 12.7 9.5 6.1 2.7 5.0 5.6 6.3
Risk-weighted assets (in billion) 4.0 4.5 3.9 4.3 4.7 4.4 4.4 4.4 4.1 4.4 4.9 5.2
Employee FTEs (end of period) 7,922 7,836 7,662 7,413 7,184 6,966 6,770 6,492 5,899 5,797 5,728 6,513

4.1 Cost of Risk

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Cost of risk
( in bps) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019
Cost of risk - Mortgages - 5 3 - 1 - 10 - 3 - 4 1 1 3
Cost of risk - Consumer loans 14 - 41 0 36 - 10 121 95 104 127
Cost of risk - Corporate loans1 42 - 6 - 67 - 26 105 108 251 338 102
Cost of risk - retail banking - 4 2 - 0 - 8 - 4 4 3 14 15
Cost of risk - commercial banking 113 - 56 - 50 3 132 118 57 202 55
Cost of risk - private banking 2 - 20 13 - 17 - 10 3 44 37 - 2
Cost of risk - corporate & institutional banking - 23 42 - 86 - 39 86 97 373 412 133
Cost of risk - total 11 - 2 - 23 - 13 35 42 99 132 46
1 Please note that the cost of risk for corporate loans refers to Corporate loans to clients.

5.1 Volatile items, Reg. levies

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CVA. DVA and FVA results (pre-tax)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
CVA/DVA/FVA 9 2 7 28 35 42 3 -88 15 -23 -2 -7
Hedge accounting related results (pre-tax)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Hedge accounting related results 4 15 26 -5 7 7 5 40 -22 9 6 63
Equity participations results (pre-tax)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Equity partications results 44 19 46 -17 -22 1 -1 -32 6 20 15 10
Regulatory levies (pre-tax)
(in millions) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019
Retail Banking 89 33 20 82 77 19 31 65 65 25 25 69
Commercial Banking 28 5 4 32 22 3 4 14 5 3 3 14
Private Banking 6 6 4 15 7 3 4 27 20 4 4 28
Corporate & Institutional Banking 51 - - 1 58 35 0 3 51 36 0 2 45
Group Functions - - - 0 4 - - 1 3 - 0 - 0 0 6
ABN AMRO Bank 174 45 26 191 141 25 42 160 125 32 34 161

5.2 Results as published

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ABN AMRO Q4 2021 results
Ticker: ABN NA / ABN.AS
2019 2020 2021 2020 2021 2021 2021 2021 Consensus Actual vs Actual vs Comments on current quarter
EUR m FY FY FY Q4 Q1 Q2 Q3 Q4 Q4 Consensus Q4 20 Q3 21
Results (as presented)
Net interest income 6,468 5,863 5,210 1,353 1,363 1,306 1,202 1,339 1,301 38 3% -1% 11% Excl. Incidentals down vs. Q3 '21, reflecting deposit margin pressure and the non-core wind-down, partly offset by higher prepayment penalties
Net fees and commissions 1,632 1,558 1,664 387 406 399 413 446 411 35 9% 15% 8% Improved vs. Q3 '21, mainly at Clearing, Global Markets and Private Banking
Other non-interest income 504 494 724 60 79 27 119 499 420 80 19% Excl. Incidentals and volatile items, an increase vs. Q3 '21 reflecting higher trading volumes at CIB core and higher equity participations results
Operating income 8,605 7,916 7,597 1,800 1,847 1,732 1,734 2,284 2,132 152 7% 27% 32%
Personnel expenses 2,247 2,280 2,324 563 579 600 575 571 590 -19 -3% 1% -1%
Other expenses 3,021 2,976 3,482 838 1,264 628 727 863 858 5 1% 3% 19% Higher reflecting the annual Dutch Bank tax (145m vs 90m in Q4'20) and higher FTEs (mainly AML activities)
Operating expenses 5,268 5,256 5,806 1,401 1,843 1,228 1,301 1,433 1,440 -7 0% 2% 10%
Operating result 3,337 2,660 1,791 400 4 504 432 851 692 159 23% 113% 97%
Impairment charges 657 2,303 -46 220 -77 -79 -12 121 109 12 11% -45% Including management overlay CB. Management overlay 424m (380m Q3 '21). New and additional impairments in stage 3 low
Operating profit before taxes 2,680 356 1,838 180 81 583 444 729 583 147 25% 64%
Income taxes 634 401 604 126 135 190 102 177 132 46 35% 40% 75%
Profit for the period 2,046 -45 1,234 54 -54 393 343 552 451 101 22% 61%
Minorities and AT1 coupons 105 113 91 22 23 25 23 23 25 -2 -8% 6% 0%
Profit attributable to shareholders 1,941 -158 1,140 32 -77 368 320 529 426 103 24% 65%
Pre tax result by business line
Retail Banking 1,165 917 350 230 197 200 -42 -4 43 -47 -109% -102% -91% Incl. -12m impairments
Commercial Banking 606 173 555 13 136 211 206 2 106 -103 -98% -84% -99% Incl. 122m impairments
Private Banking 275 454 328 50 76 70 89 93 78 15 19% 85% 5% Incl. -1m impairments
Corporate & Institutional Banking 392 -1,187 495 2 155 77 93 170 11 160 83% Incl. 14m impairments
o/w Core (2020 pro forma) n/a n/a 813 106 174 257 170 212 86 126 146% 100% 24% Incl. 3m impairments
o/w non-Core (2020 pro forma) n/a n/a -318 -104 -19 -180 -77 -42 -76 34 -45% -60% -46% Incl. 11m impairments
Group Functions 241 -1 109 -115 -483 25 99 468 305 162 53% Incl. 0m impairments
Key ratios & Indicators
NIM 164 bps 143 bps 127 bps 130 bps 134 bps 128 bps 117 bps 128 bps 127 bps 2 bps
C/I Ratio 61.2% 66.4% 76.4% 77.8% 99.8% 70.9% 75.1% 62.8% 67.6% -4.8%
Cost of risk 24 bps 78 bps -7 bps 35 bps -13 bps -23 bps -2 bps 11 bps 18 bps -7 bps
ROE 10.0% -0.8% 5.8% 0.7% -1.6% 7.6% 6.5% 10.8% 8.0% 2.8%
RWA 109,825 110,481 117,693 110,481 112,035 107,194 110,565 117,693 114,986 2,708
CET1 (FL B3) 18.1% 17.7% 16.3% 17.7% 17.4% 18.3% 17.8% 16.3% 17.0% -0.6% Basel IV CET ratio c.16%; final 2021 dividend of 0.61 cent per share; 500m share buyback programme announced
Leverage ratio (FL) 5.2% 5.8% 5.9% 5.8% 5.6% 5.8% 5.8% 5.9% 5.3% 0.6%
FTEs 17,977 19,234 19,957 19,234 19,417 19,639 19,700 19,957 Up vs. Q4 '20 reflecting AML activities, partly offset by the decline at non-core due to the wind-down
Per share data
EPS reported 2.06 -0.17 1.21 0.03 -0.08 0.39 0.34 0.56 0.45 0.11
Shareholder's equity per share 20.73 20.22 21.28 20.22 20.40 20.79 21.21 21.28 21.08 0.20
Tangible shareholder's equity per share 20.54 20.08 21.15 20.08 20.27 20.66 21.07 21.15

5.2b Breakdown large items

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ABN AMRO Q4 2021 results
Ticker: ABN NA / ABN.AS
2019 2020 2021 2020 2021 2020 2021 2021 2021 2021
EUR m FY FY FY YTD YTD Q4 Q1 Q2 Q3 Q4
Results (with further details & large items)
Net interest income 6,468 5,863 5,210 5,863 5,210 1,353 1,363 1,306 1,202 1,339
o/w Large Items 45 -57 -176 -57 -176 -57 0 -30 -148 2
o/w amortisation of penalty interest on mortgages 0 -80 0 -80 0 -80 0 0 0 0
o/w (mainly) revaluation claim on DSB 45 23 26 23 26 23 0 0 26 0
o/w provision potential repayment 0 0 -30 0 -30 0 0 -30 0 0
o/w provision revolving consumer credit 0 0 -265 0 -265 0 0 0 -174 -91
o/w TLTRO benefit 0 0 93 0 93 0 0 0 0 93
Net fees and commissions 1,632 1,558 1,664 1,558 1,664 387 406 399 413 446
Other non-interest income 504 494 724 494 724 60 79 27 119 499
o/w Private Equity 52 -55 92 -55 92 -22 -17 46 19 44
o/w CVA/DVA/FVA -17 -8 46 -8 46 35 28 7 2 9
o/w Hedge accounting results / RFT 56 59 40 59 40 7 -5 26 15 4
o/w Large Items 103 278 198 278 198 0 0 -129 0 327
o/w divestments 137 0 0 0 0 0 0 0 0 0
o/w SME Derivatives -34 15 0 15 0 0 0 0 0 0
o/w sale office buildings 0 263 327 263 327 0 0 0 0 327
o/w CIB non-core loan disposal (discount to book value) 0 0 -121 0 -121 0 0 -121 0 0
o/w provision potential repayment 0 0 -49 0 -49 0 0 -49 0 0
o/w revaluation gain on Tink 0 0 41 0 41 0 0 41 0 0
Operating income 8,605 7,916 7,597 7,916 7,597 1,800 1,847 1,732 1,734 2,284
Personnel expenses 2,247 2,280 2,324 2,280 2,324 563 579 600 575 571
o/w Large Items 33 111 0 111 0 6 0 0 0 0
o/w restructuring provisions 3 116 0 116 0 11 0 0 0 0
o/w provision outstanding holiday entitlements 0 17 0 17 0 17 0 0 0 0
o/w release discetionary variable remuneration 0 -22 0 -22 0 -22 0 0 0 0
o/w CLA effect (one-off) 30 0 0 0 0 0 0 0 0 0
Other expenses 3,021 2,976 3,482 2,976 3,482 838 1,264 628 727 863
o/w Regulatory Levies 352 368 435 368 435 141 191 26 45 174
o/w Large Items 197 142 530 142 530 42 480 0 44 6
o/w AML provision 174 44 0 44 0 26 0 0 0 0
o/w provision SME Derivatives 23 0 0 0 0 0 0 0 0 0
o/w restructuring provision 0 64 0 64 0 16 0 0 0 0
o/w goodwill impairments 0 34 0 34 0 0 0 0 0 0
o/w AML settlement 0 0 480 0 480 0 480 0 0 0
o/w provision revolving consumer credit 0 0 50 0 50 0 0 0 44 6
Operating expenses 5,268 5,256 5,806 5,256 5,806 1,401 1,843 1,228 1,301 1,433
Operating result 3,337 2,660 1,791 2,660 1,791 400 4 504 432 851
Impairment charges 657 2,303 -46 2,303 -46 220 -77 -79 -12 121
Operating profit before taxes 2,680 356 1,838 356 1,838 180 81 583 444 729
Income taxes 634 401 604 401 604 126 135 190 102 177
o/w write-off DTA CIB non-core 0 120 0 120 0 0 0 0 0 0
o/w tax relief AT1 coupons 0 -55 0 -55 0 0 0 0 0 0
Net operating profit 2,046 -45 1,234 -45 1,234 54 -54 393 343 552

Disclaimer

ABN Amro Bank NV published this content on 09 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2022 08:27:30 UTC.

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