ABN Amro Registers 11% Rise In Q313 Net Profit


News: Netherlands-based ABN Amro registered an 11% year-on-year (y-o-y) rise in net profit to EUR390mn (US$525mn) in Q313, compared with EUR351mn (US$472.5mn) in Q312. The rise was supported by higher net interest income and a EUR101mn (US$135.96mn) release on impairments on Greek government-guaranteed corporate loans. Loan-loss provisions stood at EUR212mn (US$285.38mn), up 2% y-o-y. The firm considers it to be a satisfactory performance given the difficulties being faced by the Dutch economy, according to CEO Gerrit Zalm (The Wall Street Journal).

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Geography: Netherlands