ABN AMRO has suffered a net loss of $ 200 million (183 million euros) from a US customer that has speculated during the major financial market turmoil in recent weeks, the bank reports Thursday.
The loss is recorded by the ABN AMRO Clearing department. This part acts as an intermediary for professional traders and thus provides more certainty in trading.
The aforementioned client had a specific strategy when trading US options and futures. But at some point, this person was no longer able to meet ABN AMRO’s minimum capital requirements.
“To avoid further losses, ABN AMRO Clearing decided to close the positions of this customer. The impact of this will be included in ABN AMRO’s results for the first quarter of 2020,” said the bank.
The bank notes that ABN AMRO Clearing has suffered low credit losses in the past.
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