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ABN Amro: third-quarter net profit up 11%.

(CercleFinance.com) - ABN Amro said it had a "good" third quarter, with net profit up 11% year-on-year, particularly thanks to growth at its mortgage and commercial loan businesses.

On Wednesday the Dutch lender posted third-quarter net profit of 673 million euros, compared to 607 million euros in the same period a year ago.

ABN Amro said costs continued along a downward trend, benefiting from cost-saving programmes, while loan impairments remained low, reflecting the Dutch economy's strong performance.

ABN' common equity Tier 1 (CET1) ratio, a key measure of financial strength, increased to 17.6% in the past quarter, from 16.6% in 2016.

The bank - which is on track to achieve its financial targets - said it aims to double the volume of sustainable client assets in the next three years, from 8 billion euros to 16 billion euros.

Despite this optimism, the group's shares were down 1.9% at 25.3 euros this morning on Euronext Amsterdam.

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