ABN AMRO expects modest first quarter loss after settlement AML investigation
Press release
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Today ABN AMRO announced it has accepted a settlement offer from the Dutch Public Prosecution Service in connection with the previously announced AML investigation. As part of the settlement ABN AMRO will pay a fine of EUR 300 million and a disgorgement of EUR 180 million.
The payment of the total amount, EUR 480 million, will be booked in the first quarter and as a result ABN AMRO will report a loss over Q1 2021. The loss will be modest as we see some write-backs as well as impairment releases due to the stable credit quality during the first quarter.