Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT