ABN Amro has come under pressure from analysts to reduce its investment banking activities in Europe and Asia after announcing that it will close its US domestic equities and M&A operations.

Analysts applauded the move to cut the US businesses, which they estimated were losing €100m ($88m) a year, but argued that the bank should go further. They said ABN would be more profitable if it closed more of its equities and corporate finance businesses outside the Netherlands.