ABN AMRO Group N.V. Integrated Annual Report 2016 Introduction
About this report We create value for This Integrated Annual Report presents the developments relating to ABN AMRO Clients Strategy that took place in 2016. In addition to our financial and non-financial performance, Employees you will also find information on how we create value for our stakeholders. Society at large Business
See our Value Creation Model Investors p 22 Risk, funding & capital
2 9 27 91 Introduction Strategy Business Risk, funding & capital Leadership Notes to the reader 2 From stakeholders Operating environment 28 Introduction to Risk, to strategy 10 funding Key figures 3 Group performance 33 & capital management 92 Mapping out the path 12 Profile 4 Business performance 57 Risk, funding & Strategy and culture 14 capital management 95 Message from the CEO 6 Responsibility Governance What matters most 16 statement 90 Risk, funding & ABN AMRO shares 8 capital review 122 How we create and share value 22 Additional risk, funding & capital disclosures 189 Annual Financial Statements Other
ABN AMRO Group Annual Report 2016 Introduction
New in this report See also:
Integrated reporting principles have Our Annual Report supplement ‘Initiatives in 2016’ been further incorporated into the report abnamro.com/annualreportmagazine2016 Strategy We report on our approach to material topics Our website as identified by our stakeholders abnamro.com/annualreport
EY has performed a limited assurance engagement on the disclosures related Giving Voice to Value to these material topics Business Supplement to the Annual Report Initiatives in 2016 We enhanced connectivity by including links to information (online and offline) Risk, funding & capital
205 221 249 369 Leadership Governance Annual Financial Other Statements 2016 Leadership Managing Board 205 Corporate Consolidated income Independent auditor’s Governance 222 statement 250 report on financial Supervisory Board 209 statements 370 Remuneration 236 Consolidated statement Report of the of comprehensive Assurance report Supervisory Board 211 Employee income 251 of the independent representation 244 auditor 377 Governance Consolidated statement of financial position 252 Our external reporting landscape 379 Consolidated statement of changes in equity 253 Definitions of
important terms 380 Annual Financial Statements Consolidated statement of cash flows 255 Abbreviations 386
Notes to the Annual Cautionary Financial Statements 257 statements 388
Statutory financial Enquiries 389 statements ABN AMRO
Group N.V. 361 Other
Other information 366
ABN AMRO Group Annual Report 2016 Introduction Notes to the reader
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Introduction / Notes to the reader Introduction Introduction
Notes to the reader Strategy
This is the Annual Report for 2016 of ABN AMRO, which consists of ABN AMRO Group N.V. and its consolidated entities. The Annual Report consists of the Managing Board report1, Report of the Supervisory Board and Annual Financial Statements. The financial information contained in this Annual Report has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU IFRS). It also complies with the financial reporting requirements included in Title 9, Book 2 of the Dutch Civil Code, where applicable. Some chapters Business in the Risk, funding & capital section of this Annual Report contain audited information and are part of the Annual Financial Statements. Audited information in these sections is labelled as ‘audited’ in the respective headings.
In this Annual Report, we disclose and explain our material financial and non-financial results, strategy, governance, external developments and the risks and opportunities ABN AMRO faces. Risk, funding & capital As with last year’s report, the International Integrated Reporting Framework has been used for this Annual Report and ABN AMRO has taken further steps towards integrated reporting. Furthermore, we have integrated a materiality matrix and the most material financial and non-financial topics into this report. Disclosures on material topics are prepared in accordance with the (DMA) Disclosure on Management Approach as described in GRI G4. Further details are provided elsewhere in this report under Reporting landscape.
Our independent auditor, EY, has performed a limited assurance engagement on selected disclosures, which are labelled ‘
Capital metrics and some risk exposures for 2016 and comparative figures for 2015 are reported under the Basel III (CRD IV/ CRR) framework. Some sections in this Annual Report contain information according to Pillar 3 (as part of the CRR) and Enhanced Disclosure Task Force (EDTF) requirements. These sections are labelled ‘Pillar 3’ and/or ‘EDTF’ in their respective headings. Governance
The contents of this Annual Report comply with the Financial Supervision Act, Corporate Governance Code and Dutch Banking Code.
This report is presented in euros (EUR), which is ABN AMRO’s presentation currency, rounded to the nearest million, and sets out the results for the entire ABN AMRO organisation worldwide (unless otherwise stated). All financial year-end averages in this report are based on month-end figures. Management does not believe that these month-end Annual Financial Statements averages present trends that are materially different from those that would be presented by daily averages. Certain figures in this report may not tally exactly due to rounding. In addition, certain percentages in this document have been calculated using rounded figures.
To provide a better understanding of the underlying results, ABN AMRO has adjusted its reported results in the Financial Review, presented in accordance with EU IFRS, for defined special items. For more information refer to the reconciliation between reported and underlying results in the Financial Review.
For a download of this report or more information, please visit us at abnamro.com/ir or contact us at Other [email protected].
1 The Managing Board report consists of the sections Strategy, Business, Risk, funding & capital Management, Leadership (Managing Board chapter) and Governance.
ABN AMRO Group Annual Report 2016 Key figures
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Introduction / Key figures Introduction
Key figures Strategy
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