ABN AMRO records incidental net loss of USD 200 million
March 26 2020 - 3:00AM
ABN AMRO records incidental net loss of USD 200 million
ABN AMRO records incidental net loss of USD 200
million
As a result of the unprecedented volumes and volatility in
financial markets following the outbreak of COVID 19, ABN AMRO
Clearing will incur a USD 250 million pretax incidental loss on one
of its US clients. The net loss is approximately USD 200 million
(EUR 183 million). The client had a specific strategy,
trading US options and futures, and failed to meet the minimum risk
and margin requirements following extreme stress and dislocations
in US markets. To prevent further losses, ABN AMRO Clearing decided
to close-out the positions of this client. The impact will be
included in the first quarter 2020 results of ABN AMRO.
ABN AMRO Clearing serves professional clients that are active in
financial markets worldwide. Historically ABN AMRO Clearing has a
track record of low credit losses.
Investor Relations
Press Relations Dies
Donker
Ariën Bikker+31(0)20-6282282
+31
(0)20-6288900investorrelations@nl.abnamro.com
pressrelations@nl.abnamro.com
This press release is published by ABN AMRO Bank N.V. and
contains inside information within the meaning of article 7 (1) to
(4) of Regulation (EU) No 596/2014 (Market Abuse Regulation)
- 20200326 Press Release Clearing UK
ABN AMRO Bank N.V (EU:ABN)
Historical Stock Chart
From Mar 2024 to Apr 2024
ABN AMRO Bank N.V (EU:ABN)
Historical Stock Chart
From Apr 2023 to Apr 2024