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ABN Amro Q1 profit to fall 3% on loan impairments

ABN Amro Q1 profit to fall 3% on loan impairments. Dutch bank ABN Amro on Monday announced a three per cent fall in first-quarter internet profit to 595 mn euros (S$948.3 million), as ongoing crises in the oil sector led to impairments on loans to shipping & offshore services clients.
[AMSTERDAM] Dutch bank ABN Amro on Monday announced a three per cent fall in first-quarter internet profit to 595 mn euros (S$948.3 million), as ongoing crises in the oil sector led to impairments on loans to shipping & offshore services clients.
Net profit was higher then expected, as analysts in a Reuters poll had predicted a profit of 574 mn euros, after the bank made 615 mn euros in the same period a year earlier.
ABN Amro in February told it going to maintain relatively high capital buffers, as fresh banking regulations look likely to in the end shave 4 to 5 percentage points off its capital demandant ratios in the coming years.
This specifically injuries ABN & other Dutch banks as they typically have a big mortgage loan book.

ABN Amro Q1 profit
ABN Amro Q1 profit

ABN Amro Q1 profit falls three pct on loan impairments

ReutersABN Amro shares fall as big impairments drag drop first-quarter profitBy Bart H. MeijerAMSTERDAM, probably 14 (Reuters) – Shares in ABN Amro fell nearly five % on Monday after larger than foreseen loan impairments chock the Dutch bank’s first-quarter profits.
Despite the impairments, first-quarter internet profit was higher then expected, as analysts in a Reuters poll had predicted a profit of 574 mn euros.
ABN Amro shares, however, dropped 4.7 % to 25.08 euros, & have this day fallen 6.3 % this year.
“Impairments cast a shadow over an otherwise sound 1st quarter”, ING analyst Albert Ploegh told in a report.
This specifically injuries ABN & other Dutch banks as they typically have a big mortgage loan book.

ABN AMRO profit falls on 3% on impairment charges

As it stated in ABN AMRO Group NV (ABN.AE) told Monday which internet profit in the 1st quarter fell 3% because of impairment charges of 208 mn euro ($248.3 million).
The Dutch bank told profit for the 3 months ended March 31 fell to EUR595 mn from EUR615 mn in the year-earlier period.
Net interest revenue rose 5% to EUR1.67 bn because of got better interest margins & volumes, as well as a one-off adjustment, the bank said.
ABN AMRO told its operating revenue during the 1st quarter promoted 4% to EUR2.33 billion.
Chief Executive Kees van Dijkhuizen told the bank Information Systems on track to achieve its strategic priorities & financial targets with 2020.

 

 

 

Collected by :Victor Alphen

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