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NN Group: quarterly profit rises on Delta Lloyd acquisition

(CercleFinance.com) - Dutch financial group NN Group posted a 22% rise in quarterly operating profit, driven by the contribution of its recent acquisition of Delta Lloyd.

Operating profit from ongoing business rose to 345 million euros in the fourth quarter, compared with 282 million euros a year earlier.

Net result soared from 148 million in Q4 2016 to 700 million euros in fourth-quarter 2017, mainly driven by higher capital gains and revaluations.

NN Investment Partners, the asset manager of NN Group, attracted 5.1 billion euros of third-party assets in 2017.

Looking ahead, NN Group, which offers retirement services, insurance, investments and banking products in 18 countries, said it expected to maintain efforts to improve its overall performance.

However, its shares, which are listed on Euronext Amsterdam, are currently down 2.5% at 35.4 euros this morning.

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