News Formal

ABN Amro exits trade, commodity finance in corporate bank shake-up

  • 📰 Reuters
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

ABN Amro is to end all trade and commodity financing after a string of losses, in a massive overhaul of its activities that will see the Dutch bank cut 800 jobs.

Write-offs at ABN’s corporate bank hit 1.4 billion euros in the first half, up from 128 million euros a year before, as oil and gas sector loans soured along with the economic outlook and large Asian clients got into trouble.

It also had nearly $300 million in outstanding loans to Singapore-based Hin Leong Trading, whose founder admitted to hiding hundreds of millions of dollars in losses. The clearing and European parts which ABN aims to keep, however, were not without their own problems as impairments jumped to 591 million euros in the second quarter.

ABN took a $200 million first quarter loss on clearing after a U.S. hedge fund missed its margin requirements.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 2. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

More cash, less buzz for 2020 investment bank internsBuzzing trading floors, classrooms and networking drinks have been replaced by online projects, 'hackathons' and fitness sessions for the class of 2020 investment banking interns.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »