Photo: ANP / Remko de Waal
ABN Amro made a profit in the second quarter of 600 million euros. If non-recurring items are excluded, that equates to almost double from a year ago – the best result since the nationalization of ABN
The sole shareholder, the Dutch State will be of benefit to profits. ABN: the Treasury receives a dividend of 350 million euros. According to CEO Gerrit Zalm ABN Amro is on track to meet targets for 2017.
ABN Amro especially knew how to take advantage of the better running Dutch economy. As a result, the bank had to book less money for possible loan losses. With 34 million addition to the contingency fund was even ‘exceptionally low’ name. A year earlier tenfold added.
The operating profit grew by 16 percent to 879 million euros. The interest yield also increased due to mortgage refinancing and growth in the commercial loan portfolio. However there were higher costs for pensions opposite.
ABN Amro was nationalized in 2008 at the peak of the credit crisis, which cost about 22 billion euros. Currently, the bank is preparing for a return to the stock market
- Read more about this.
- ABN Amro
No comments:
Post a Comment