ABN Amro: profit jumps 45% on gain from subsidiary sale.
(CercleFinance.com) - Dutch bank ABN Amro reported second-quarter net profit of almost 1 billion euros, as it benefited from a gain of 200 million euros on the sale of its Asian private banking division.
ABN reported underlying net profit of 960 million euros, against a profit of 662 million euros in the same period a year ago.
CEO Kees van Dijkhuizen said the underlying trend in the second quarter was "generally positive" and supported by continued growth of the Dutch economy.
The bank reported improvements in key industry metrics - notably its capital position with fully-loaded CET1 ratio improving to 17.6%.
ABN Amro also said its cost-to-income ratio improved to 54.9% from 57.4% in June 2017, while return on equity (ROE) rose to 20% from 16.7%.
The shares are currently down 0.7% at 24.7 euros on Euronext Amsterdam after this report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
ABN reported underlying net profit of 960 million euros, against a profit of 662 million euros in the same period a year ago.
CEO Kees van Dijkhuizen said the underlying trend in the second quarter was "generally positive" and supported by continued growth of the Dutch economy.
The bank reported improvements in key industry metrics - notably its capital position with fully-loaded CET1 ratio improving to 17.6%.
ABN Amro also said its cost-to-income ratio improved to 54.9% from 57.4% in June 2017, while return on equity (ROE) rose to 20% from 16.7%.
The shares are currently down 0.7% at 24.7 euros on Euronext Amsterdam after this report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.