Financial Results
ABN AMRO's Third-Quarter Profit Rises
The result was boosted by a swing from the impairment charges logged a year ago.
ABN AMRO, the
Netherlands-based group providing services including private
banking, yesterday reported a €343 million ($397 million) profit
for the third quarter of this year, rising by 14 per cent from a
year ago. The result was boosted significantly by a swing from
impairment charges last year amid the pandemic to a net release
in the latest quarter.
Operating income stood at €1.734 billion in Q3 2021, falling 21
per cent year-on-year; operating costs fell 4 per cent
year-on-year to €1.301 billion, it said in a statement.
The bank said it had a €12 million net release in the third
quarter, against €270 million of impairment charges in Q3
2020.
At the end of September ABN AMRO logged a Common Equity Tier 1
ratio of 17.8 per cent.
