Abn Amro Credit

Amro credit Abn

Netherlands regulatory authority imposes fine on ABN Amro for credit crunch AFM today announces that it has fined International Card Services (ICS), a fully owned ABN AMRO affiliate, for exceeding credit lines. The ICS itself took the lead in March 2017 and drew up a remuneration scheme for the affected customers. 2,4 million refers to deficiencies in the ICS' credit granting practice from June 2012 to March 2015.

Certain ICS customers received excessive credit lines for which they were paying interest and in some cases commission. The ICS has fully participated in the AFM inquiry in this case and has addressed the deficiencies in its work. The ICS has begun the implementation of the remuneration scheme (in Dutch only) for the affected customers and the scheme is going as foreseen.

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"One of the oldest proverbs in commercial life." It'?s always a good idea to remember why. Simfukwe talks about his roles as a credit risk analyst and how we are changing our in-house process. Synseal Group has entered into a partnership with ABN AMRO Commercial Finance in order to make a 25 million financing facility £ available to them.

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