ABN AMRO's Third-Quarter Profit Rises

Editorial Staff

10 November 2021

, 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.