ABN Amro: fourth-quarter and full-year 2017 net income up
(CercleFinance.com) - Dutch bank ABN Amro said on Wednesday that its fourth-quarter 2017 earnings rose, in particular helped by lower loan impairments.
Despite the challenging interest rate environment, the bank reported net profit of 542 million euros in last three months of 2017, up from 333 million a year earlier.
For the full year of 2017, ABN - which had to be rescued during the financial crisis - made net profit of 2.8 billion euros, driven by a gain on the sale of its private banking business in Asia, up from 2.1 billion euros in 2016.
The group's 2017 dividend will rise to 1.45 euro per share, from 0.84 euro in 2016, corresponding to a pay-out target of 50% of reported net profit.
ABN Amro said additional dividends and/or share buy-backs will be considered when its capital position improves.
The shares, listed on Euronext Amsterdam, were 2.4% lower after these results.
The bank said on Wednesday that Olga Zoutendijk, the chair of its supervisory board, will not run for a second term of office in July, with her leadership style having been a "topic of discussion internally."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Despite the challenging interest rate environment, the bank reported net profit of 542 million euros in last three months of 2017, up from 333 million a year earlier.
For the full year of 2017, ABN - which had to be rescued during the financial crisis - made net profit of 2.8 billion euros, driven by a gain on the sale of its private banking business in Asia, up from 2.1 billion euros in 2016.
The group's 2017 dividend will rise to 1.45 euro per share, from 0.84 euro in 2016, corresponding to a pay-out target of 50% of reported net profit.
ABN Amro said additional dividends and/or share buy-backs will be considered when its capital position improves.
The shares, listed on Euronext Amsterdam, were 2.4% lower after these results.
The bank said on Wednesday that Olga Zoutendijk, the chair of its supervisory board, will not run for a second term of office in July, with her leadership style having been a "topic of discussion internally."
Copyright (c) 2018 CercleFinance.com. All rights reserved.