ABN Amro quits commodity finance in major restructuring

August 13, 2020 / www.metalbulletin.com / Article Link

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...

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