ABN Amro will not implement negative interest on savings accounts with less than 100 thousand euros in them, the bank promised. The bank's interest rate on savings currently stands at 0.01 percent. It can, theoretically, still drop for zero. But most customers will not have to pay to keep their savings at ABN Amro, NOS reports.
ABN Amro is implementing more cutbacks that will result in 1,500 lost jobs, the bank announced on Wednesday at the presentation of its qurterly results, the Telegraaf reports.
This new round of cutbacks could yield some 400 million euros in savings and comes in addition to reorganization plans already announced in recent months. The bank currently employs 26,500 people. By 2020 that number will be cut to 23 thousand.
Dutch bank ING saw its net profits increase to 1.35 billion euros in the third quarter, an increase of 27 percent compared to the same quarter last year. The bank's total income rose by 9 percent to 4.4 billion euros, ING announced on Thursday, ANP reports.
ING granted more loans to consumers and businesses and took in more savings. ING's loans increased by 3.6 billion euros and on balance attracted 2 billion euros in savings. Despite the low interest rates, the bank got "healthy" margins on its loans.
Air France-KLM is setting up a new subsidiary to compete with companies from particularly the Gulf countries. According to the French-Dutch airline, companies such as Emirates are able to work at laower costs in markets where Air France-KLM want to grow, NU.nl reports.
Like for many of its competitors, the second quarter was somewhat hard on Air France-KLM. The French-Dutch airline saw its turnover drop by 5 percent, though still managed to get a profit below the line. Continuing strong competition and the threat of terrorism was the main pressure points for the airline group's income, they group announced on Wednesday
Air France-KLM's new CEO Jeam-Marc Janaillac is taking over the French-Dutch airlines on somewhat improved results compared to last year. In the first quarter of 2016 the airlines managed to further stem losses, though they still ended the quarter in the red
In the second quarter of this year ABN Amro achieved its best results since the banks nationalization in 2008. The bank made a profit of 600 million euros in the second quarter - with non-recurring items excluded, that is almost double compared to the same quarter last year
Shell will be cutting 6,500 jobs. Over the pas three months the oil and gas company has been facing a sharp decline in profits, mostly due to the low oil prices.
According to Ahold's quarterly figures, the supermarket chain has seen turnover and net profit increase in the third quarter.
The operational profit of KLM fell by a quarter to 265 million euro in the third quarter.