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AppendicesFirst Quarter Results 2004
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Appendices: table of contents Key figures: profit and loss account 25 RWA developments 26 Details on BU NA and US Mortgage Business 28 Details on WCS Performance 32 Asset Quality and Provisioning 36 Asset Quality and Provisioning in C&CC 39 Asset Quality and Provisioning in WCS 48
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* At constant forex rates
Key figures: changes in profit and loss account
RWA developments
0 5
Increase in RWA due to impact FX, securitisations and loan growth
Quarterly change in RWA (EUR bn)
0
2
4
6
8
10
12
14
Group WCS CCC
Autonomous FX effect Securitisations
Details on BU NA and US Mortgage Business
0 7
Income from Mortgage Banking Activities (BU NA)
Data provided on a Dutch GAAP basis(USD mln) Q1 04 Q4 03 Q1 03
Loan Servicing and Related Fees 154 154 136
Net Gain on Sale of Loans 35 84 345
Net Gain on Sale of Servicing - - -
Amortization of MSR (Net of Derivative Income) (102) (92) (271)
Valuation Provision - - -
Income from Mortgage Banking Activities 87 146 210
Servicing Hedge Gains 102 101 228
Income from Mortgage Banking with Hedging 189 247 438
0 8
Changes in MSR Balances (BU NA)
Data provided on a Dutch GAAP basis
0 9
BU Mortgage origination per channel USD)
Mortgage origination per channel (BU NA)
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04
Mortgage origination Brokers Retail
Details on WCS Performance
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WCS client performance
WCS client revenues are EUR 1,058 mln, representing 77% of WCS revenues
Most important revenue contributor is the BU Financial Institutions and Public Sector (FIPS), accounting for 46% of total client revenues
The BU Global Specialised Industries (GSI) includes TMT, Healthcare & chemicals and Integrated Energy. The BU Industrials includes Global Manufacturing, General Industries and Consumer
WCS Revenues(EUR 1,371 mln)
Revenues by Client(EUR 1,058 mln)
Priority & Key Revenues by Client(EUR 653 mln)
BU Industrials30%
BU FIPS40%
BU GSI30%
BU Industrials31%
BU GSI23%
BU FIPS46%
Other 23%
Client segments
77%
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WCS product performance
Most important revenue contributor is Financial Markets
The sale of our Prime and Professional Brokerage businesses was respectively closed at 5/12/03 and 2/04/04 (both were part of the BU WoCa). Revenues from Professional Brokerage are still part of WCS Q1 revenues (booked in Q1 under WCS Other)
In the restated Q1 03 and Q4 03 graphs above, revenues of Prime and Professional Brokerage have been transferred from BU WoCa to WCS Other
Revenues by productEUR 1,371 mln in Q1 2004
Revenues by ProductEUR 1,491 mln in Q4 2003
Revenues by ProductEUR 1,145 mln in Q1 2003
Other12%
Working Capital18%
Equities & CF
19%
Financial Markets
51%
Other4%
Working Capital23%
Equities & CF
16%
Financial Markets
57%
Other6%
Working Capital19%
Equities & CF
22%
Financial Markets
53%
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WCS gaining momentumSteady net profit WCSEUR 175 mln in Q1 2004
Steady improvement efficiency ratio80.0% in Q1 2004
The client led focus, restructuring and improved market conditions have led to a clear improvement of net profit and efficiency ratio
-200
-150
-100
-50
0
50
100
150
200
Q1 01 Q2 01 Q3 01 Q4 01 Q1 02 Q2 02 Q3 02 Q4 02 Q1 03 Q2 03 Q3 03 Q4 03 Q1 04
Net Profit Net Profit (ex cl. ex traord results)
78.0
80.0
82.0
84.0
86.0
88.0
90.0
92.0
Q1 01 Q3 01 Q1 02 Q3 02 Q1 03 Q3 03 Q1 04
Asset Quality and Provisioning
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March-2003
Private sector loans (EUR bn - by outstanding)
March-2004December-2003
C&CC70%
PCAM3%
Other6%
WCS21%
C&CC72%
PCAM3%
Other7%
WCS18%
PCAM3%
Other6%
WCS19%
C&CC72%
Brazil4%
NGM / Bouwfonds22%
NL47%
NA27%
0
50
100
150
200
Mar-03 Dec-03 Mar-04Wholesale C&CC PCAM Other
Bank wide private sector loans: Commercial and Consumer
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SBUC&CCWCSPCAMTotal AA
1Q03180156
3343
2Q03217
832
305
3Q03204
543
303
4Q03214106
1323
1Q04160
300
195
1Q030.51%0.90%0.15%0.59%
2Q030.61%0.49%0.11%0.53%
3Q030.58%0.33%0.17%0.53%
4Q030.61%0.67%0.06%0.57%
1Q040.45%0.18%0.00%0.34%
Overview of total loan loss provisioning per SBU
Loan loss provisions per SBU (EUR mln) Annualised provisions / average RWA
C&CC82%
WCS15%Other
3%
0.0%
0.5%
1.0%
1.5%
2.0%
1Q03 2Q03 3Q03 4Q03 1Q04
C&CC WCS ABN AMRO
Asset Quality and Provisioning in C&CC
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C&CC total private loans (outstanding in EUR bn)Numbers may not add up due to rounding
CommercialConsumerTotal private loans
Mar-0469.9
102.0172.0
Netherlands25.254.579.7
North America32.215.047.2
Brazil3.03.66.7
NGM / Bouwfonds 9.5
28.938.4
Dec-0368.599.6
168.0
Mar-0370.3
102.0172.3
Commercial41%
Consumer59%
Netherlands47%
North America27%
Brazil4%
NGM / Bouwfonds22%
Overview of total private loans in C&CC
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BUNetherlandsNABrazilNGM / BouwfondsTotal C&CCTotal AA
1Q03518742
0180343
2Q03577686-2
217305
3Q03697565-5
204303
4Q0369686512
214323
1Q030.39%0.56%2.75%0.00%0.51%0.59%
2Q030.45%0.50%5.33%
-0.03%0.61%0.53%
3Q030.53%0.50%3.97%
-0.09%0.58%0.53%
4Q030.53%0.46%3.60%0.20%0.61%0.57%
C&CC loan loss provisionsLoan loss provisions per BU
NGM / Bouwfonds
2%
Brazil41%
Netherlands43%
NA14%
0%
1%
2%
3%
4%
5%
1Q03 2Q03 3Q03 4Q03 1Q04
Netherlands NA Brazil NGM / Bouwfonds Total C&CC
Annualised provisions / average RWAProvisions - EUR mln
1Q04682366
3160195
1Q040.52%0.16%3.23%0.05%0.45%0.34%
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BU NL commercial portfolio
BU NL commercial portfolio by industryBU NL total portfolio
Commercial32%
Consumer68%
Wholesale Trade14%
Manufacturing2%
Hotels and Restaurants2%
Health & Social Services6%
Food Industry2%
Education1%
Construction3%
Chemical Industry2%
Business Services7%
Banks and Non-Banking Financial Institutions
12%
Agriculture & Fishery11%
Public0%
Other Services2%
Mining1%
Public Utilities2%
Real Estate6%
Retail Trade4%
Not classified5%
Transport & Communication9%
Metal Industry9%
Corporate Clients SME non program lending Total Commercial
Mar-03 Dec-03 Mar-04
0% 7%
3%
Overview of the commercial portfolio of BU NL - (by outstanding)
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BU NL Commercial portfolio asset quality - (by outstanding on a EUR basis; Mar 2003 - Mar 2004)
17.0% 17.1% 18.1% 15.6%
34.4% 38.0%
28.7%
1.5%
18.1%
36.7%37.7%38.7%
29.2%29.4%29.4%28.5%
16.2%14.5% 14.5% 14.7% 14.9%
3.3%1.2%1.2% 1.3%
0%
20%
40%
60%
80%
100%
Mar. 03 Jun. 03 Sep. 03 Dec. 03 Mar. 042.80
3.00
3.20
3.40
3.60
3.80
4.00
UCR 1,2 UCR 3+- UCR 4+-
UCR <5 Not Rated Average UCR
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Mar-03 Dec-03 Mar-04
22%
BU NA commercial portfolio
BU NA commercial portfolio by industryBU NA total portfolio
Commercial
32%Consumer
68%Consumer Products
1%Electrical Equipment /
Appliance1% Energy
1%
2%
Chemicals / Fertilizers3% Construction / Contracting
6%
Automotive3%
Non regulated Financials2%
Real Estate / Development38%
Industry / Commercial Machinery
2%
Publishing / Broadcasting / Movies
1%
Other1%
Metal processing / Fabrication
5%
Regulated Financial2%
Heath Care4%
Food / Beverage / Tobacco4%
Paper / Pulp / Lumber1%
Professional Services4%
Miscellaneous4%
Insurance1%
Government / Agency1%
Individuals (unqualified)2%
Regulated Utility1%
Retailing / Wholesaling (general)
4%
Textile / Shoes / Clothing1%
Transportation / Storage3%
Travel / Lodging / Entertainment
2%
Waste Disposal1%
Overview of BU NA commercial portfolio - (by outstanding on a USD basis; Mar 2003 - Mar 2004)
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BU NA commercial portfolio asset quality - (by outstanding on a USD basis; Mar 2003 - Mar 2004)
38.0% 41.5%
5.0% 2.9%4.1%4.6%4.7%
35.8% 36.8% 35.2%
38.5% 37.5% 39.6% 40.2% 39.0%
17.7%20.6%20.9%20.7% 16.6%
0%
20%
40%
60%
80%
100%
Mar. 03 Jun. 03 Sep. 03 Dec. 03 Mar. 042.80
3.00
3.20
3.40
3.60
3.80
4.00
UCR 1,2 UCR 3+- UCR 4+- UCR <5 Average UCR
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Commercial45%
Consumer55%
Car Finance Corp. SME Middle Corp. Total CommercialMar-03 Dec-03 Mar-04
+ 1.4%
- 10.6%
+ 35.0%- 33.3%
BU Brazil commercial portfolio
BU Brazil commercial portfolio by industryBU Brazil total portfolio
Overview of the BU Brazil commercial portfolio - (by outstanding on a BRL basis; Mar 2003 - Mar 2004)
Services1.8%
Telecommunications5.1%
Textile&Footwear4.8% Transports
5.2%
Utilities & Power Generat2.5%
Eletrical Machinery0.9%
Construction & Engeneer5.6%
Paper & Pulp0.6%
Packaging0.5%
Others11.2% Oil&Gas
1.1%Miscellaneous
1.2%Metal & Minning
4.3%
Health Services3.9%
Food,Beverages,Tobacc2.8%
Education3.8%
Consumer Goods3.0%Petrochemicals
0.6%
Public0.4%
Retail&Wholesale12.9%
Computer & Related0.3%
Chemicals3.8%
Capital Goods & Machinery2.9%
Banking & Finance1.8%
Automotive7.2%
Agribusiness11.9%
.
o
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18.3%
57.6% 62.8% 62.6%
6.4%
11.9%
18.3%21.2%20.9%22.6%
58.0% 59.2%
7.9%6.9%6.7% 7.1%12.4% 12.5% 12.9% 11.4%
0%
20%
40%
60%
80%
100%
Mar-03 Jun-03 Sep-03 Dec-03 Mar-04
2.00
2.50
3.00
3.50
4.00
UCR 1,2 UCR 3 UCR 4
UCR >5 Not rated Average UCR
A
BU Brazil commercial portfolio asset quality - (by outstanding on a BRL basis; Mar 2003- Mar 2004)
Asset Quality and Provisioning in WCS
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Geographic exposure calculated based on the country lending office (*) = Insignificant
Asia Pacific Advanced
7.4% (11.3%)
North America23.3 % (32.0%)
Latin America3.1% (0.4%)
Eastern Europe0.5% (*)
Africa0.3% (*)
Europe 59.7% (54.9%)
Middle East0.7% (0.1%)
Asia4.9% (1.3%)
WCS Corporate / (NBFI/PS) portfolio: predominantly OECD - (by limits on EUR basis, Mar 2004)
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WCS - total portfolio
Commercial banks exposure includes commercial lines, money market and OBSI facilities .
NBFI/PS
26%
Commercial Banks
33%
Corporate
41%
Breakdown of WCS portfolio per sector - (by limits on a EUR basis, Mar 2004)
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Average UCRs - historical performance Average UCRs
Avg UCRs
WCS Corporate
NBFI/PS
Commercial Banks
Dec-01
2.88
1.70
1.54
Jun-02
2.93
1.71
1.54
Dec-02
2.98
1.80
1.56
Jun-03
2.94
1.75
1.57
Dec-03
2.86
1.70
1.58
Mar-04
2.85
1.66
1.60
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
Dec-01 Jun-02 Dec-02 Jun-03 Dec-03 Mar-04WCS Corporate NBFI/PS Commercial Banks
Average UCR of WCS sectors - (by limits on a EUR basis; Dec 2001 - Mar 2004)
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Manuf other transport means1.4%
Chemical4.6%
Tobacco1.0%Food
5.7%
Services 2.7%
Manufacturing (general)7.1%
Real estate2.8%
Agri/raw materials1.2%
Construction4.4%
Transport services7.0%
Automotive (oem+supply)9.1%
Metals & Mining3.5%
(Non) durables5.3%
Leisure0.4%
Retail1.2%
Utilities9.0%
Oil & gas8.5%
Health/pharma4.7%
Technology6.1%
Media4.8%
Telecom9.7%
WCS Corporate portfolio remains well diversified - (by limits on a EUR basis, Mar 2004)
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Main industriesTelecom ServicesAutomotiveOil and GasUtilitiesTransport ServicesManufacturing
Jun-023.042.872.772.863.083.10
Dec-023.172.972.733.113.133.17
Jun-033.112.792.773.223.133.04
Dec-032.862.772.652.942.872.90
Mar-042.922.842.662.902.802.96
2.5
2.6
2.7
2.8
2.9
3.0
3.1
3.2
3.3
Jun-02 Dec-02 Jun-03 Dec-03 Mar-04
Automotive Oil and GasTelecom Services UtilitiesManufacturing Transport Services
Average UCR of WCS main industries corporate client sector - (by limits on a EUR basis; Jun 02 - Mar 04)
Average UCRs - historical performance Average UCRs
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WCS corporate asset quality - (by limits on a EUR basis)
82.2% 82.5%79.8%79.7%81.1%
17.8% 17.5%18.9%20.3%
20.2%
0%
20%
40%
60%
80%
100%
Jun-02 Dec-02 Jun-03 Dec-03 Mar-04
2.50
2.60
2.70
2.80
2.90
3.00
UCR 1,2,3 UCR >=4 Average UCR