ABN AMRO Bank N.V. (AAVMY) Presents at Bank of America 31st Annual Financials CEO Conference Transcript

Good morning, everyone. It's my pleasure to welcome Ferdinand Vaandrager, CFO of ABN AMRO. So Ferdinand, 10 months ago from the Capital Markets Day, profits are up 30%, ROE back above 12%, guidance raised on income and cut on costs and CET1 ratio that's even on 100% payout still sits at above 15%. Budget Day was actually nonevent for Dutch banks, which is a positive. Nothing taken from your pocket, and we can call it a good year. So let's spend the next 40 minutes on to see how this nice story could continue or even improve and where it's from. So importantly, at what point do you reset the targets rather than keep beating them. So Ferdinand, welcome.

No. And I think it's very important. Number one, you need to realize we have a minority coalition in the Netherlands. So for all proposals, they need to find support from the opposition. So that also means before it's adopted by the Senate, it will take more time. You mentioned already