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ABN Amro CFO says 2020 cost-income target 'looks challenging'

FILE PHOTO: ABN AMRO headquarters is seen in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de Wouw/File Photo

AMSTERDAM (Reuters) - ABN Amro’s chief financial officer said that the bank’s goal of reaching a cost-income ratio of 56-58% next year will be difficult to meet.

Speaking after the company posted its second-quarter earnings, CFO Clifford Abrahams said due to low interest rates it “looks challenging to hit that target.”

ABN’s cost-income ratio, a key measure of a bank’s profitability, was 59.9% in the first half of 2019.

Reporting by Toby Sterling; editing by Jason Neely

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