The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Wholesale banking: ABN Amro cuts now, but ING is next

Exits at ABN Amro, including its big operation in commodity trade finance, raise questions about ING, as both firms enjoy much better returns in Dutch retail lending.

Dominic O'Neill on Europe 1920px.jpg

Think of a European bank that needs to shrink its corporate and investment bank.

Deutsche Bank or Societe Generale probably come to mind, but ABN Amro’s decision to run down all corporate banking outside Europe – and exit commodity trade finance completely – is a timely reminder of the next layer down.

Below the likes of Deutsche and SocGen, European wholesale banks’ competitive advantages are even less able to justify their costs after Covid-19 and as Basel reforms suck up more capital.

All the big Dutch banks fit in this next tier down, because their domestic market is so small. They maintain full-service investment banks.

But to a greater degree than the French, they are struggling to fight back against the US firms, even in their home market.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree