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ABN AMRO Bank (AAVMY)
OTHER OTC:AAVMY
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ABN AMRO Bank
(OTC:AAVMY)
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Rating:69Neutral
Price Target:
$38.00
â–²(12.23% Upside)
The score is held back primarily by weaker financial quality driven by multi-year negative operating/free cash flow and elevated leverage, despite improved profitability and equity growth. Offsetting this are constructive technical momentum, reasonable valuation with a solid dividend yield, and a positive earnings call featuring strong capital metrics, maintained guidance, and a strategically accretive acquisition plan.
Positive Factors
Profitability
Strong profitability driven by increased net interest and fee income indicates effective revenue generation and cost management, supporting long-term financial health.
Mortgage Market Strength
Significant growth in mortgage production reflects robust demand and market position, enhancing revenue streams and supporting future growth.
Capital Ratio Improvement
Improved capital ratios provide a strong buffer against financial uncertainties, ensuring stability and compliance with regulatory requirements.
Negative Factors
Rising Operating Costs
Increased operating costs may pressure profit margins and require strategic cost management to maintain financial performance.
Delay in Share Buyback
Delays in share buybacks can affect shareholder returns and signal potential challenges in capital allocation and regulatory compliance.
Economic Outlook Concerns
Economic uncertainties in key markets may affect loan demand and asset quality, posing risks to revenue growth and financial stability.
ABN AMRO Bank (AAVMY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$31.01B
Dividend Yield4.27%
Average Volume (3M)365.00
Price to Earnings (P/E)12.9
Beta (1Y)0.54
Revenue Growth-11.00%
EPS Growth-10.26%
CountryUS
Employees21,976
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)0.87
Shares Outstanding616,154,540
10 Day Avg. Volume0
30 Day Avg. Volume365
Financial Highlights & Ratios
PEG Ratio-0.60
Price to Book (P/B)0.50
Price to Sales (P/S)0.67
P/FCF Ratio-1.17
Enterprise Value/Market Cap3.10
Enterprise Value/Revenue7.00
Enterprise Value/Gross Profit10.92
Enterprise Value/Ebitda28.70
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ABN AMRO Bank Business Overview & Revenue Model
Company DescriptionABN AMRO Bank N.V. provides various banking products and services to retail, private, and business clients in the Netherlands and internationally. It operates through three segments: Personal & Business Banking, Wealth Management, and Corporate Banking. The company provides savings and deposits products; labelled residential mortgage products under the Florius brands; and consumer loans under the Alpha Credit Nederland, Credivance, Defam, Moneyou, and ABN AMRO brands. It also issues, promotes, manages, and processes credit cards; provides revolving credit card facilities and pension schemes, as well as consumer credit and mortgages; and life and non-life insurance products. In addition, it offers asset-based solutions, including working capital solutions, equipment leases and loans, and vendor lease services; private banking and wealth-management-related services; and derivatives and equity clearing services. ABN AMRO Bank N.V. was incorporated in 2009 and is headquartered in Amsterdam, the Netherlands.
How the Company Makes MoneyABN AMRO Bank generates revenue through various streams, primarily focusing on interest income from loans and advances to customers and businesses. The bank earns fees and commissions from its wide array of banking services, including asset management, payment processing, and advisory services. Additionally, it gains revenue from trading and investment activities, leveraging its expertise in financial markets. ABN AMRO's private banking and wealth management divisions also contribute significantly to its earnings by offering tailored financial solutions to high-net-worth individuals. Strategic partnerships and collaborations further enhance its service offerings and market reach, contributing to the bank's overall profitability.
ABN AMRO Bank Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 11, 2026
Earnings Call Sentiment Positive
The earnings call highlighted robust financial performance with strong net profit, loan growth, and a strategic acquisition announcement. However, it also noted challenges in deposit margins and other income declines. Overall, the positive aspects regarding growth and strategic direction outweighed the challenges.Q3-2025 Updates
Positive Updates
Strong Net Profit and Return on Equity
ABN AMRO reported a net profit of EUR 617 million with a return on equity of 9.5% for Q3 2025.
Growth in Mortgage and Corporate Loans
The mortgage portfolio increased by EUR 2.1 billion, and corporate loans grew by the same amount.
Successful NIBC Acquisition Announcement
ABN AMRO announced its intention to acquire NIBC, which will add around EUR 28 billion of mortgages and is expected to deliver a return on invested capital of around 18%.
Strong CET1 Ratio
The CET1 ratio stood at 14.8%, well above the regulatory requirement of 11.2%.
FTE Reduction and Cost Discipline
The company reduced FTEs by 700 in Q3 and by almost 1,000 year-to-date, excluding HAL.
Negative Updates
Decline in Other Income
Other income ended at EUR 28 million for Q3, impacted by lower equity participation results and a negative fair value correction of past bookings related to some mortgages.
Challenges in Deposit Margins
Deposit margins declined, partly related to targeted offerings within Wealth Management at reduced margins.
Cost Increases Due to Collective Labor Agreement
The Dutch Collective Labor Agreement increased wages by 3.75% on July 1st, leading to an increase in personnel expenses.
Company Guidance
During ABN AMRO's Q3 2025 Analyst and Investor Call, the bank reported a strong quarter with a net profit of EUR 617 million and a return on equity of 9.5%. The company's mortgage and corporate loan portfolios each grew by EUR 2.1 billion, while net new assets rose by EUR 4.3 billion. The bank's CET1 ratio remained robust at 14.8%. ABN AMRO announced an agreement to acquire NIBC, which will add around EUR 28 billion in mortgages and 300,000 savings clients, enhancing both scale and strategic positioning in the Dutch market. The deal is projected to deliver an 18% return on invested capital by 2029, with expected capital impact of approximately 70 basis points at closing in the second half of 2026. The bank maintained its full-year guidance for net interest income of at least EUR 6.3 billion and costs between EUR 5.4 billion and EUR 5.5 billion, inclusive of the recent HAL acquisition.ABN AMRO Bank Financial Statement Overview
Summary
Income statement trends are solid (2024 profitability improved meaningfully, net margin ~12%, and revenue rebounded strongly), and equity growth supports capitalization. However, sustained negative operating/free cash flow in 2022–2024 and persistently elevated leverage (debt-to-equity ~3.1x) materially weaken overall financial quality.Income Statement
Profitability improved meaningfully versus 2020, with net income turning solidly positive and 2024 net margin at ~12% (vs. a small loss in 2020). Reported revenue accelerated sharply in 2024 (+36.7% YoY), and operating profitability appears healthy in 2024 (EBIT margin ~17.5%). Offsetting this, revenue has been volatile across the period (declines in 2019–2020 and 2022–2023 before rebounding), and margins are inconsistent year-to-year, which reduces confidence in earnings stability.71
Positive
Balance Sheet
The balance sheet looks adequately capitalized for a bank, with equity growing steadily from ~€21.0B (2020) to ~€26.1B (2024) and return on equity improving to ~9.2% in 2024. However, leverage remains elevated with debt-to-equity around ~3.1x in 2024 (and often higher historically), which increases sensitivity to credit/market shocks. Total assets are large and broadly stable (~€385B in 2024), but the leverage profile keeps the score in the mid-range.62
Positive
Cash Flow
Cash flow quality is the weakest area: operating cash flow and free cash flow are negative in 2022–2024 (2024 operating cash flow about -€10.8B; free cash flow about -€11.2B), indicating meaningful cash outflows despite reported profitability. The swing from very strong inflows in 2020–2021 to sustained outflows thereafter suggests volatility and potential working-capital/operating timing pressures. While banks can show lumpy cash flows, the multi-year negative trend is a clear concern.29
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.72B | 19.50B | 8.78B | 10.15B | 7.64B | 5.61B |
| Gross Profit | 8.79B | 8.94B | 8.59B | 7.64B | 7.64B | 5.61B |
| EBITDA | 3.35B | 3.58B | 0.00 | 2.55B | 2.03B | 0.00 |
| Net Income | 2.31B | 2.40B | 2.70B | 1.87B | 1.23B | -45.00M |
Balance Sheet | ||||||
| Total Assets | 413.92B | 385.05B | 377.91B | 379.58B | 399.11B | 395.62B |
| Cash, Cash Equivalents and Short-Term Investments | 49.39B | 45.80B | 55.05B | 62.84B | 68.25B | 62.15B |
| Total Debt | 83.60B | 81.54B | 54.44B | 63.96B | 67.72B | 75.34B |
| Total Liabilities | 386.44B | 358.94B | 353.74B | 356.77B | 377.11B | 374.63B |
| Stockholders Equity | 27.48B | 26.11B | 24.17B | 22.81B | 21.99B | 20.99B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -11.25B | -9.32B | -8.33B | 9.40B | 45.09B |
| Operating Cash Flow | 0.00 | -10.79B | -7.82B | -8.14B | 9.60B | 45.31B |
| Investing Cash Flow | 0.00 | -4.81B | -1.72B | -239.00M | 3.86B | -2.48B |
| Financing Cash Flow | 0.00 | 6.16B | 2.01B | 2.95B | -7.38B | -9.84B |
ABN AMRO Bank Technical Analysis
Positive
33.86
Price Trends
34.51
Positive
32.55
Positive
29.20
Positive
Market Momentum
0.66
Negative
60.42
Neutral
85.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AAVMY, the sentiment is Positive. The current price of 33.86 is below the 20-day moving average (MA) of 35.82, below the 50-day MA of 34.51, and above the 200-day MA of 29.20, indicating a bullish trend. The MACD of 0.66 indicates Negative momentum. The RSI at 60.42 is Neutral, neither overbought nor oversold. The STOCH value of 85.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AAVMY.
ABN AMRO Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $2.11B | 9.47 | 20.99% | 3.70% | -0.09% | 18.47% | |
81 Outperform | $73.51B | 10.60 | 14.58% | 3.67% | 7.43% | 30.31% | |
77 Outperform | $93.31B | 12.46 | 9.44% | 1.71% | 17.50% | 49.25% | |
76 Outperform | $147.28B | 13.17 | 18.00% | 3.27% | 7.52% | 10.40% | |
72 Outperform | $84.25B | 13.48 | 11.71% | 4.14% | 2.20% | -0.17% | |
69 Neutral | $31.01B | 12.86 | 9.54% | 4.27% | -11.00% | -10.26% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
AAVMY
ABN AMRO Bank
36.76
20.58
127.11%
BBVA
Banco Bilbao
25.14
14.14
128.46%
BCS
Barclays
26.55
12.25
85.70%
ING
ING Groep
29.68
13.84
87.43%
NWG
NatWest Group
18.21
7.91
76.80%
NTB
Bank of NT Butterfield & Son
50.84
15.80
45.09%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.