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ABN AMRO Q1 Profit Down; Says Focused On Financial Targets

Dutch bank ABN AMRO (ABNYY.PK) reported first-quarter net profit of 478 million euros, down 20 percent from 595 million euros last year.

The prior year's results included significant gains on (equity) participations.

Operating result declined 23 percent to 754 million euros from 981 million euros last year.

Operating income was 2.08 billion euros, down 11 percent from prior year's 2.33 billion 29 -11%

The company noted that net interest income was impacted by temporarily elevated liquidity management costs.

Looking ahead, Kees van Dijkhuizen, CEO, said, "In this more demanding environment with rising regulatory and compliance costs, we remain focused on our financial targets."

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