ABN Amro has announced plans to cut 5,200 full-time roles by 2028 as part of cost-saving measures.

The plans mean that nearly a quarter of the Dutch lender's 22,000 staff will be axed over the next three years.

Chief executive Marguerite Bérard, who joined the bank in April, announced the move as part of its wider strategy for 2026-2028 at its Capital Markets Day on Tuesday.

The organisation expects around half of the cuts to take place through attrition.

The bank has already cut over 1,000 jobs in 2025.

ABN Amro's new strategy will focus on accelerating profitable growth, “right-sizing” its cost, and deploying capital where it generates the highest returns.

Plans include harnessing digital innovation, as well as investing in challenger brands like Tikkie and BUUT to attract new customers and boost fee income.

Bérard said the strategy aims to strengthen its position in Dutch retail banking, making it a top-five private bank in Europe.

The chief executive explained that while the bank has built a solid foundation in recent years, "more must be done" to improve returns and competitiveness.

“While these ambitions will shape our actions and investments in the coming years, I understand that changes to our cost base, especially reducing full time employees, bring uncertainty for our colleagues,” she added. "We are fully committed to supporting everyone affected with a robust social plan, offering financial support and assistance in finding new opportunities.”

ABN Amro's 2028 financial targets include income of more than €10 billion, with return on equity of at least 12 per cent.

Earlier this month, ABN Amro agreed to acquire NIBC Bank from Blackstone Inc. for about €960 million in a move the bank said will expand its retail footprint and bolster savings operations in the Netherlands, Germany and Belgium.

The deal, announced on 12 November, is expected to close in the second half of 2026, subject to regulatory approvals and works council consultations.

It said on Tuesday that the buyout will expand ABN AMRO’s position in core products mortgages and savings.

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