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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ABN AMRO Bank N.V.    ABN   NL0011540547

ABN AMRO BANK N.V.

(ABN)
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ING combines commodity trade finance teams, names new division head

12/01/2020 | 08:11am EST
FILE PHOTO: The logo of ING bank is seen at the entrance of the group's main office in Brussels

LONDON (Reuters) - Dutch bank ING has reorganised its trade finance divisions and appointed Maarten Koning as its new global lead of trade and commodity finance, the bank said on Tuesday.

The bank is bringing its structured commodity finance (SCF) units in Geneva and Asia into the trade and commodity finance (TCF) division.

Koning will run the newly combined division out of Geneva. He joined ING in 2001 and was global head of SCF until the new appointment. Koning succeeds Anthony van Vliet, who recently took on the role of head of Know Your Customer (KYC) for ING Wholesale Banking.

ING is one of the lead banks in financing the trade of oil, metals and agricultural products. The commodity trading world was shaken this year after a series of major trade house defaults, largely in Asia, that prompted internal reviews at many top banks.

Dutch lender ABN Amro, a giant in commodity trade finance, shocked the market in August when it announced its withdrawal from the area. BNP Paribas that had already downsized its presence said in September it was closing its Swiss commodity trade finace business.

(Reporting by Julia Payne, editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABN AMRO BANK N.V. -2.11% 8.332 Real-time Quote.6.13%
BNP PARIBAS -2.83% 43.085 Real-time Quote.2.87%
ING GROEP N.V. -1.48% 7.71 Real-time Quote.2.42%
LONDON BRENT OIL -1.23% 55.44 Delayed Quote.7.68%
WTI -1.13% 52.38 Delayed Quote.9.87%
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Financials
Sales 2020 7 931 M 9 651 M 9 651 M
Net income 2020 -350 M -426 M -426 M
Net Debt 2020 - - -
P/E ratio 2020 -29,1x
Yield 2020 0,11%
Capitalization 8 001 M 9 717 M 9 736 M
Capi. / Sales 2020 1,01x
Capi. / Sales 2021 1,06x
Nbr of Employees 18 952
Free-Float 46,9%
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Technical analysis trends ABN AMRO BANK N.V.
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TrendsBullishNeutralBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Average target price 9,93 €
Last Close Price 8,51 €
Spread / Highest target 88,0%
Spread / Average Target 16,7%
Spread / Lowest Target -30,7%
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Managers and Directors
NameTitle
Robert Swaak Chairman-Executive Board & Chief Executive Officer
Tom de Swaan Chairman-Supervisory Board
Clifford Abrahams Vice Chairman-Executive Board & CFO
Christian Bornfeld Chief Innovation & Technology Officer
Jurgen Stegmann Member-Supervisory Board
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