Apart from one-off items is almost double compared to the same period last year. It is the best result since ABN Amro in its current form.
For the Dutch state, which nationalized ABN at the height of the credit crisis in 2008, the cash register rings. The bank indicated Friday to pay an interim dividend of 350 million euros to its sole shareholder. ABN is currently preparing for a return to the stock market.
The preparations for the IPO are as CEO Gerrit Zalm on schedule. He reiterated that ABN’s ready, but when the bank right back on the Damrak, is Finance Minister Jeroen Dijsselbloem.
Operating result
Also the operating profit increased, 16 percent to 879 million euros. Interest income also were on the rise due to mortgage refinancing and growth in the commercial loan portfolio. However there were higher costs for pensions, especially in front.
CEO Gerrit Zalm said ABN is well on track to meet its targets for 2017. He said inter alia the improved financial performance and favorable outlook for the Dutch economy.
Capital Requirements
Like other banks ABN braces for stricter capital requirements by regulators. But that’s no reason to put the shareholder dieting. The bank this year will 40 percent of the profits and adds 60 percent to the capital reserve. ” We can afford it, ” said Salmon.
ABN benefited last quarter of the better running Dutch economy. Thus did a lot less money to be put aside for possible losses on loans. Loan loss provisions were 34 million euro even at ‘exceptionally low’ ‘. A year earlier added yet tenfold in the contingency fund.
The decisive factors for the whole 2015 the low amount is not, says financial director Kees van Dijkhuizen. Prior provisions have not been necessary and could be reversed. Those are incidentals, highlights the driver.
Corporate loans
The economic recovery helped especially the division that provides loans to large corporate customers in more profits. But also in smaller companies detects ABN signs of recovery.
The number of loan applications for the first time in years increased slightly due to the increased confidence in the economy, a greater proportion would be successful.
ABN saw both interest income and revenues from services increased. Total revenues increased 11 percent to 2.1 billion euros
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