Transmission system operator TenneT has agreed to sell a 25.1% stake in its German subsidiary to the German Government, facilitated by Kreditanstalt für Wiederaufbau (KfW), for approximately €3.3bn ($3.9bn). The transaction, which follows an earlier €9.5bn commitment from institutional investors including APG, GIC and Norges Bank Investment Management, is expected to enhance TenneT Germany's financial standing and support essential infrastructure management within the country. The sale will adhere to th ...

Financial Targets & Growth Strategy - The company aims for a Return on Equity (ROE) greater than 12% by 2028 [5, 79] - The company targets a Cost/Income (C/I) ratio of less than 55% by 2028 [5, 79] - The company aims to achieve an income greater than €10 billion by 2028 [5, 79] - The company targets a CET1 ratio greater than 13.75% [5, 79] - The company plans to allocate approximately 50% of its capital to the Corporate Bank, excluding Clearing [5, 79] Cost Reduction & Efficiency - The company plans to reduce FTEs (Full-Time Equivalents) by 5,200 by 2028 [42] - The company aims to reduce its cost base to around €5.5 billion by 2028 [210] - The company expects to realize approximately €900 million in gross cost savings between 2024 and 2028 [204] Business Expansion & Capital Allocation - The company aims to grow client assets in Wealth Management to over €335 billion by 2028 [35, 71, 135, 191] - The company plans to allocate approximately €1 billion in capital for NIBC, expecting a return on invested capital (RoIC) of around 18% [69, 119] - The company intends to generate at least €7.5 billion of capital over the period 2026-2028 [51, 52, 234]

Core Points - Landsbankinn hf. announced the results of a tender offer for its EUR 2027 notes, inviting holders to tender their notes for cash payment [1] - The bank received valid tenders amounting to EUR 281,590,000, all of which were accepted [1] - The joint lead managers for the tender offer include ABN AMRO Bank, BofA Securities Europe, Natixis, and NatWest Markets [1] Additional Information - Further details regarding the tender offer results can be found in the announcement published on Euronext Dublin, where the bonds are listed [2] - The announcement contains information that may qualify as inside information under the Market Abuse Regulation [3]

Group 1 - Landsbankinn hf. announced a tender offer for its EUR 2027 notes, allowing holders to sell their notes back to the bank for cash [1] - The tender offer is subject to specific terms and conditions outlined in the tender offer memorandum dated 27 October 2025, which includes the outcome of the bank's intended new issuance [1] - Further details regarding the tender offer can be found in the announcement published on Euronext Dublin, where the bonds are listed [2] Group 2 - The tender offer memorandum can be obtained from the tender agent, Kroll Issuer Services Limited, subject to certain distribution restrictions [2] - The joint lead managers for this tender offer include ABN AMRO Bank, BofA Securities Europe, Natixis, and NatWest Markets [2] - This announcement may contain inside information as defined by the Market Abuse Regulation (EU) 596/2014 [3]

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $148.8 million, up 12% year over year [13] - Subscription revenues were $130.8 million, reflecting a 15% year-over-year increase on a reported basis and 10% organically [13] - Non-GAAP operating income was $30 million, representing 20% of total revenues [16] - The company ended the quarter with $123.2 million in cash and $203.5 million outstanding on its line of credit [17] Business Line Data and Key Metrics Changes - The U.S. Mortgage business saw subscription revenues of $20.9 million, up 22% year over year [14] - Professional services revenues decreased by 2% year over year to $18.1 million [14] - The credit union segment added six new logos and 35 cross-sells in the second quarter [6] Market Data and Key Metrics Changes - Non-U.S. total revenues were $33.5 million, up 22% or 19% in constant currency [15] - Non-U.S. subscription revenues were $27.4 million, up 30% or 27% in constant currency [16] Company Strategy and Development Direction - The company is focused on expanding its presence in EMEA and activating the credit union market [5] - nCino aims to leverage AI and data analytics across its platform to enhance customer experiences and operational efficiency [9] - The transition to platform pricing is proceeding as expected, with approximately 21% of ACV converted to this model [17] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic conditions have improved, leading to increased deal activity and sales opportunities [29] - The company expects total revenues for fiscal 2026 to be between $585 million and $589 million, representing growth of approximately 9% at the midpoint [23] - Management expressed confidence in meeting or exceeding the ACV outlook for the year, supported by strong pipeline activity [58] Other Important Information - The company repurchased approximately 750,000 shares at an average price of $26.89 per share during the quarter [17] - The AI strategy, particularly the Banking Advisor, is expected to be transformative for financial services, with over 80 customers already purchasing this technology [9] Q&A Session Summary Question: What are the drivers behind the revenue strength and sustainability? - Management attributed the revenue strength to solid execution and a supportive macro environment, noting increased deal activity [28][29] Question: How is the AI strategy performing, particularly with Banking Advisor? - The AI strategy is resonating well with customers, contributing to wins, and the rollout of agentic workflows is anticipated to enhance this momentum [31][34] Question: What is the status of platform pricing and its impact? - The transition to platform pricing is on track, with expected price uplifts around 10% for renewals, and the largest cohort of migrations will occur in the fourth quarter [40][41] Question: How is the credit union market performing? - The company has seen strong performance in the credit union segment, validating the investment in this area, with opportunities for cross-selling [48][50] Question: What is the outlook for mortgage revenues? - The company expects mortgage subscription revenues to grow approximately 5% for fiscal 2026, up from prior guidance of flat year-over-year [19] Question: How is the international pipeline developing? - There are signs of reacceleration in the international pipeline, particularly in Continental Europe, with strong activity and deal sizes being tracked closely [92][94]

Core Insights - Infosys has successfully implemented the nCino Platform for ABN AMRO Bank, aiming to transform the bank's loan origination and collateral management processes by consolidating multiple legacy systems into a unified platform [1][2] - The Go Live of the nCino Platform marks a significant milestone, showcasing new features and facilitating the migration of over 100,000 records from legacy systems over 11 months [2][3] - The nCino Platform enhances operational efficiency, customer onboarding, and regulatory compliance for ABN AMRO, providing a centralized solution for managing assets and collaterals [3][4] Company Collaboration - Infosys is a primary Application Development and Maintenance partner for ABN AMRO, demonstrating expertise in digital and cloud transformation capabilities [2][5] - The collaboration includes supporting integrations across ABN AMRO's IT systems and developing a robust data migration and reconciliation strategy [4][5] - Key stakeholders from both companies emphasize the platform's role in improving lending processes, operational efficiency, and customer experience [5][6] Platform Features - The nCino Platform is cloud-native and configurable, featuring out-of-the-box credit workflows with API-driven integrations and data quality capabilities [3][4] - The solution aims to optimize lending processes and enhance the digital experience for ABN AMRO's customers while ensuring compliance with regulatory requirements [5][6]

CGI's CLS Manager solution and market expertise help ABN AMRO Bank reduce risk and expand third-party service offeringsNEW YORK, June 18, 2025 /PRNewswire/ -- CGI (NYSE: GIB) (TSX: GIB.A), one of the world's largest independent technology and professional services firms, today announced that the Netherlands' ABN AMRO Bank recently selected CGI's industry-leading Continuous Linked System (CLS) Manager solution to support its transition from a third-party participant to a full settlement member of the interna ...

Core Insights - ABN AMRO Bank reported a net profit of EUR 619 million for Q1 2025, with a return on equity of approximately 10% [3][7] - The Dutch economy shows resilience with GDP growth above the Eurozone average, low unemployment, and a strong housing market, contributing to ABN AMRO's solid performance [2] - The bank's strategic focus on key growth areas and credit quality has led to growth in loan books, including a EUR 1.7 billion increase in the mortgage portfolio and a EUR 0.9 billion increase in corporate loans [7] Financial Performance - Net interest income for Q1 2025 was EUR 1.56 billion, a decrease of 2% compared to Q1 2024, while net fee and commission income increased by 8% to EUR 507 million [12] - Operating income totaled EUR 2.145 billion, down 2% year-on-year, with operating expenses rising to EUR 1.309 billion, reflecting a 4% increase [12] - The cost/income ratio stood at 61.0%, indicating a need for continued cost discipline, with underlying costs declining by 5% compared to Q4 2024 [7][12] Capital Position - ABN AMRO maintains a strong capital position with a Basel IV CET1 ratio of 14.7%, allowing for continued investment in strategic priorities [5][7] - The bank has submitted a final application to transition to less sophisticated capital models, which is expected to enhance stability and predictability in capital ratios [5] Customer Experience and Innovation - The bank's Net Promoter Score for Personal & Business Banking improved, reflecting positive client feedback on customer service and digital offerings [6] - The Tikkie payment app has reached 10 million active users, processing nearly 700,000 transactions during King's Day, showcasing the bank's innovative approach [6] Sustainability Initiatives - ABN AMRO launched a free online Green Building Tool to assist commercial real estate clients in energy savings and improving energy labels [9] - The bank has entered into a EUR 1 billion risk-sharing agreement with the EIB Group to support Dutch SMEs with favorable financing conditions, enhancing economic growth and sustainability efforts [9]