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ABN Amro Q2 Profit Up 1%; Says Focused On Targets - Quick Facts

Dutch bank ABN AMRO (ABNYY.PK) reported second-quarter net profit of 693 million euros, up 1 percent from 688 million euros in the same period last year.

The company noted that the latest quarter's results reflected solid operational performance and moderate impairments. The results included a pre-tax provision of 114 million euros for a customer due diligence remediation programme at Retail Banking.

Operating result for the quarter declined 1 percent to 1.01 billion euros from 1.03 billion euros last year.

Operating income increased 1 percent to 2.32 billion euros from the prior year's 2.29 billion euros.

ABN Amro said it's interim dividend has been set at 0.60 euros per share, representing a pay-out of 50 percent of half-year profit.

Looking ahead, Kees van Dijkhuizen, CEO of ABN Amro said, "We are taking action by focusing on margins, developing revenue opportunities and strict cost discipline. We remain focused on our targets in a challenging environment."

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