ABN Amro doubles profit in years – Parool.nl

ABN Amro doubles profit in years – Parool.nl

20-02-15 7:25 pm – Source: Reuters

ABN AMRO headquarters in Amsterdam. © Reuters

ABN AMRO last year earned a profit of 1.5 billion euros , twice as much as a year ago. Especially in the last quarter the bank performed well, thanks to attract the Dutch economy

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ABN CEO Gerrit Zalm. © epa

That the bank announced today at the presentation of the annual results . In the last quarter, the bank 400 million profit, while last year in that period was a loss.

This applies to underlying profit, excluding non-recurring cost items. By a number of special provisions, the net profit for the year amounted to 1.1 billion euros. This is slightly less than last year, when the bank had just faced with exceptional income of 400 million.

In the fourth quarter, not only the income increase, the bank also did less

provisions for bad loans strike, announced CEO Gerrit Zalm. “The recovery of the Dutch economy and the housing market in these figures forward,” he notes. Salmon said they were satisfied with the progress made in 2014.

He expects economic growth in the Netherlands will continue, which will further benefit the bank. “At the same time, however, the financial sector must meet increasingly stringent legislation and regulations and this entails costs. Various mandatory cost will increase considerably in 2015 and the pension costs will rise due to the current low interest rates, “said Salmon

. Final dividend Treasury

ABN AMRO wants to pay a final dividend of 275 million, bringing the total dividend for 2014 at 400 million euros. That goes into the Dutch treasury, the bank is indeed still in the hands of the State. That will not be long because ABN AMRO this year brought to the fair. The bank was nationalized in 2008 at the height of the credit crisis to 16.8 billion euros. In the following years was again almost 5 billion invested in the bank

(Edited by: Editorial).