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September 8, 2021

Abn Amro International Framework Agreement


Ton Heerts: “It is very important that ABN AMRO is the first bank in the Netherlands to take this step. This agreement guarantees the rights of workers in all countries, not only of the bank`s employees, but also of the companies that hire the bank. Decent working hours and employment contracts are not the norm everywhere. This agreement also protects fundamental rights such as the freedom to join a trade union, the freedom to negotiate and access to trade unions in companies. The agreement also establishes an updated retirement plan and increases the entitlement to annual leave for ABN AMRO employees to five weeks. Sustainability is an important issue in the agreement, both with regard to employees and customers and society. A monitoring committee, composed of representatives of the trade unions and the bank, will check annually whether the parties have complied with the agreement. ÅÅ For this report, all financial data was extracted directly from ABN AMRO`s 2019 Annual Report. Figures are usually presented in euros (EUR), the Bank`s reference currency. The financial information contained in the annual report is prepared in accordance with the International Financial Reporting Standards (IFRS) adopted by the European Union (IFRS). All capital ratios and exposures are accounted for under Basel III (CRD IV/CRR). Starting in 2019, all capital ratios and ratios, including comparative figures, will be accounted for on a fully charged basis (unless otherwise stated).

Non-financial data is collected centrally; This includes data on environmental performance, customer loyalty and staff engagement. a slowdown in manufacturing and increased political uncertainty. Global economic growth was estimated at 2.9% in 2019, up from 3.5% a year earlier. Meanwhile, world trade has grown at zero, a result of the current dispute between the United States and China. In the Netherlands, ABN AMRO`s main market, the economy has been resilient. In 2019, domestic demand became the main driver of growth due to the slowdown in international trade. Private consumption, public spending and investment all contributed to GDP growth. On an annual average, growth in the Netherlands was lower (1.7%), but remained above the euro area average of 1.2%. Other markets in which ABN AMRO is active – Belgium, France, Germany and the United States – also grew, but at a slower pace than in 2018. During the year, growing political uncertainty has affected the world of academic research and international and national statistical organizations As far as politics is concerned, we have a declaration of human rights based on international conventions; These include the OECD guidelines and requirements under the Protect, Respect and Remedy Framework, which are part of the UN Guiding Principles on Economics and Human Rights. .

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