ABN Amro has announced plans to reduce its workforce by 5,200 full-time equivalents (FTEs) by 2028, deploying capital where it “generates the highest returns”, according to a statement from the Dutch lender.
The restructuring forms part of ABN Amro’s 2026 to 2028 strategic framework, which targets annual income exceeding €10 billion and a cost-to-income ratio below 55% by 2028.
To reach these targets, the bank says it is right-sizing its cost base by “reducing the number of legal entities, optimising and digitalising end-to-end processes”. Technology modernisation remains central to these efforts, with “legacy systems being phased out, API use expanded, and AI embedded”, continues the statement.
ABN Amro has already eliminated over 1,000 positions during 2025, with approximately half of the total 5,200 planned reductions expected to “take place through attrition”.
Beyond the job cuts, ABN Amro plans to bolster its domestic retail presence through continued investment into its challenger brands Tikkie and BUUT. The recently announced €960 million acquisition of fellow Dutch lender NIBC is expected to enhance ABN Amro’s market position in mortgage and savings products.
Furthermore, the bank says it is reallocating capital to “higher-return segments and products”, while also “exiting unprofitable exposures” and focusing on “growth efforts where returns are strongest”. This approach is expected to result in a €10 billion reduction in risk-weighted assets within the Corporate Bank division.
“I understand that changes to our cost base, especially reducing FTEs, bring uncertainty for our colleagues. We are fully committed to supporting everyone affected with a robust social plan, offering financial support and assistance in finding new opportunities”, says CEO Marguerite Bérard .
Leadership developments and Alfam sale
In conjunction with announcing its financial objectives for the next three years, ABN Amro also confirmed an agreement to sell its personal loan business, Alfam, to Dutch competitor Rabobank. The transaction, expected to be completed in Q3 2026, will see ABN Amro continue to offer personal loans through a third-party arrangement with Rabobank. Financial terms of the deal remain undisclosed.
In addition, the bank has announced the nomination of three chief commercial officers for second four-year terms: Annerie Vreugdenhil (personal and business banking), Dan Dorner (corporate banking), and Choy van der Hooft-Cheong (wealth management). Their current terms expire in 2026.
Source: https://www.fintechfutures.com/
