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ABN AMRO Annual Report Group 2016

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ABN AMRO Annual Report Group 2016 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 2 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 ‘<limited assurance>’ in their respective headings. Also refer to the section entitled Assurance report of Leadership the independent auditor. 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 3 Introduction / Key figures Introduction Key figures Strategy Net Promoter Score Retail Banking Private Banking Corporate Banking 45 30 15 6 Business 0 -1 -4 -2 -15 -15 -23 Clients -30 -45 2015 2016 2015 2016 2015 2016 Risk, funding & capital Employee engagement1 Gender diversity at the top (in %) (in %) 100 30 82 25 80 76 24 23 60 18 40 12 20 6 Employees 2015 2016 2015 2016 Leadership 1 2016 score based on revised measurement method. For more details on employee engagement, please see 'Employee engagement' in the Group performance section of this report. Dow Jones Sustainability Trust Monitor AFM/NvB Index ranking (scale 1 to 5) (scale 1 to 100) Governance 100 5 87 80 78 4 3.1 3.1 60 3 40 2 Society at large 20 1 2015 2016 2015 2016 Annual Financial Statements CET1 (fully-loaded) Underlying return on equity (in %) (in %) 25 15 12.0 11.8 20 12 17.0 15.5 15 9 10 6 5 3 Investors Other 2015 2016 2015 2016 ABN AMRO Group Annual Report 2016 Profile 4 Introduction / Profile Introduction Introduction Profile Strategy ABN AMRO is a leading full-service bank with a transparent and client-driven business model, a moderate risk profile, a clean and strong balance sheet with predominantly traditional banking products, and a solid capital position and strong funding profile. We serve retail, private Business and corporate banking clients, with a primary focus on the Netherlands and with selective operations internationally. Geography Number of employees Risk, funding & capital Europe FTEs at 31 December 2016 The Netherlands: Amsterdam 21,664 FTEs by business segment FTEs byLeadership geography 234 424 800 5,266 2,699 7,416 Governance 3,844 5,138 17,507 Retail Banking Corporate Banking The Netherlands USA Rest of Private Banking Group Functions Rest of Europe Asia the world Annual Financial Statements FTEs by business segment FTEs by geography 234 424 800 5,266 2,699 Branch or representation office 7,416 Rest of the world 3,844 Australia: Sydney Singapore 5,138 17,507 Brazil: São Paulo United Arab Emirates: Dubai Other China: Shanghai, Hong Kong United States: Dallas, New York, Japan: Tok yo ChicagoRetail Banking Corporate Banking The Netherlands USA Rest of Russia: Moscow Private Banking Group Functions Rest of Europe Asia the world ABN AMRO Group Annual Report 2016 5 Introduction / Profile Introduction Strategy ABN AMRO Retail Banking Private Banking Corporate Banking Group Functions Business Leading position in Market leader in Established business partner TOPS (Technology, Operations the Netherlands the Netherlands of the Dutch corporate sector & Property Services) Principal bank for 21%1 Ranked 4th in France, 3rd in 70,000 commercial and Finance including of the Dutch population Germany and the eurozone5 international clients with ALM/Treasury and Tax Market share of 20%2 in Solid position in selected annual turnover exceeding RM&S (Risk Management the small business segment countries in Asia and the EUR 1 million across & Strategy) 3 #2 position in savings Middle East 15 defined sectors PR&I (People, Regulations Risk, funding & capital (including Private Banking) Serves over 100,000 clients Client- and capability-led & Identity) #14 in new mortgage production Present in 11 countries
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