 ABN has been looking to expand in Latin America |
The Netherlands' biggest bank, ABN Amro, is to accelerate plans to shake up the firm after a fall in net profits of 5.6%. For the three months to September the banking group reported a profit of 1.14bn euros ($1.45bn; �764m), down from 1.2bn euros a year earlier.
ABN said in a statement it would speed up its measures to control costs and grow its business.
The cost cuts will affect more than 500 head office jobs in Amsterdam.
'Efficiency measures'
The move follows a wide-ranging cull of jobs at the bank in late 2004.
In a statement the bank said: "The improvement of our performance will be achieved through a combination of the planned growth and efficiency measures in our regional client businesses and the acceleration of our existing action plans."
ABN Amro restructured itself last year and has been looking to expand business in Latin America and Asia.
Operating income rose 13.4% to 6bn euros, while operating profit rose 7.5% to 1.775bn euros.
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