Dutch bank ABN Amro which has one of the biggest exposures in Europe to the global oil-and-gas industry, racked up losses in the first quarter when some of its trading clients ran into trouble due to market volatility.
AMSTERDAM: Dutch bank ABN Amro warned provisions for souring loans could balloon to 2.5 billion euros ($2.71 billion) this year as the coronavirus crisis and oil price crash triggered a higher-than-expected first quarter loss.
The lender, which has one of the biggest exposures in Europe to the global oil-and-gas industry, racked up losses in the first quarter when some of its trading clients ran into trouble due to market volatility.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
