August 7, 2018 / 9:08 AM / 2 months ago

BRIEF-ABN Amro to cut its corporate banking activities - report

Aug 7 (Reuters) - Dutch newspaper De Telegraaf:

* ABN AMRO TO ANNOUNCE DEEP CUT IN ITS CORPORATE BANKING ACTIVITIES WITH Q2 RESULTS ON WEDNESDAY - SOURCES SAY

* ABN AMRO HAS CONSIDERED SHEDDING UP TO HALF OF ITS CORPORATE BANKING ACTIVITIES - SOURCES

* ABN AMRO IN DEC 2017 SAID IT WOULD REVIEW THE PERFORMANCE OF ITS CORPORATE BANK IN LIGHT OF NEW BANKING REGULATIONS

* ABN AMRO SAID IT WOULD WEIGH THE FUTURE OF ITS CLEARING BUSINESS AND OF ITS EXPOSURE TO INTERNATIONAL SHIPPING AND ENERGY COMPANIES

* ABN AMRO CORPORATE AND INSTITUTIONAL BANKING NET PROFIT WAS 221 MILLION EUROS ($255.9 MILLION) IN 2017; 8 PCT OF ABN’S TOTAL NET PROFIT

* ABN AMRO SHARES UP 0.3 PCT AT 23.40 EUROS AT 0906 GMT ($1 = 0.8637 euros) (Reporting by Bart Meijer)

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