Reports
Q1 Profit Drops At ABN AMRO

As far as private banking is concerned, the CEO said the firm has started to integrate the Belgian Societe Generale Private Banking NV business that it bought last year from Societe Generale.
Netherlands-based ABN
AMRO reported that its profit in the first quarter of this
year fell by 20 per cent year-on-year to €478 million ($535.7
million), but jumped by 51 per cent from the previous three
months.
Explaining the year-on-year drop, the bank said that the Q1 2018
result was boosted by significant gains on equity
participations.
“Net interest income was impacted by temporarily elevated
liquidity management costs. Operating expenses include seasonally
high regulatory levies offset by effective cost management,” Kees
van Dijkhuizen, chief executive, said.
As far as private banking is concerned, the CEO said that the
firm has started to integrate the Belgian Societe Generale
Private Banking NV business that it bought last year from Societe
Generale.
ABN AMRO said that its cost/income ratio has widened to 63.8 per
cent from 57.9 per cent from a year earlier.
Its Common Equity Tier 1 ratio stood at 18 per cent at the end of
March, a rise from 17.5 per cent from a year earlier.