ABN Amro Profit Rises on Interest Income, Lower Provisions
- Restructuring costs weigh on fourth-quarter operating profit
- Profit helped by lower provisions set aside for risky loans
ABN Amro Says Bank Needs to Be Streamlined at the Top
This article is for subscribers only.
ABN Amro Group NV, the state-controlled Dutch lender, reported a 23 percent increase in fourth-quarter profit, helped by higher net interest income and lower provisions set aside for risky loans.
Underlying net income, which strips out one-time items, rose to 333 million euros ($352 million) from 272 million euros a year earlier, the Amsterdam-based company said in a statement on Wednesday. Net interest income rose 5 percent and impairment charges declined 72 percent.