ABN AMRO revises client segmentation

ABN AMRO has made some revisions in its client segmentation to address evolving client needs and has also changed its business segmentation to allow better transparency of the business segments.

As such, as of the third quarter of 2014, ABN AMRO will present four reporting segments, namely Retail Banking, Private Banking, Corporate Banking (including sub-segment information) and Group Functions.

Its commercial and merchant banking unit has been renamed as corporate banking, and will apply a more sector-based approach. This broad segment of corporate banking has been further divided into sub-segment - commercial clients, international clients and capital markets solutions. The bank’s diamond and jewelry clients will be part of its international client segment, which will serve business clients with revenues exceeding EUR 250 million, as well as energy, commodities and transportation (ECT) clients. Previously, the bank included its diamond and jewelry clients under Private Banking, but decided on the shift to international clients, as it believes this client group requires similar products and services.