ABN AMRO Bank on 13 May reported a swing to net loss for the first quarter of the year after booking a large impairment charge due to Covid-19, oil prices and market developments.

The Dutch lender made a net loss for the quarter of €395m ($427.1m) compared with a profit €478m in the year-earlier period and a consensus loss of €242.9m, taken from FactSet and based on three analysts’ estimates.