Dutch bank ABN Amro has posted 17% decline in the net profit for the fiscal year (FY) 2018, which stood at €2.32bn, compared to €2.79bn in the fiscal year 2017.
Image: ABN Amro’s net profit has declined in FY 2018. Photo: courtesy of ABN AMRO Bank N.V.
The company has posted 42% decline in the net profit for the fourth quarter of 2018, which stood at €316m, compared to €542m in the fourth quarter of 2017.
ABN Amro has posted 2% decline in the operating income for the FY 2018, which stood at €9,093m (€9bn), compared to €9,290m (€9.2bn) in the fiscal year 2017.
The company has posted 11% decline in the operating income for the fourth quarter of 2018, which stood at €2,157m (€2.1bn), compared to €2,429m (€2.4bn) in the fourth quarter of 2017.
ABN Amro has posted 4% decline in the operating expenses for the FY 2018, which stood at €5,351m (€5.3bn), compared to €5,582m (€5.5bn) in the fiscal year 2017.
The firm has posted 8% decline in the operating expenses for the fourth quarter of 2018, which stood at €1,514m (€1.5bn), compared to €1,653 (€1.6bn) in the fourth quarter of 2017.
The company has posted 1% increase in the operating result for the FY 2018, which stood at €3,742m (€3.74bn), compared to €3,708 (€3.70bn) in the fiscal year 2017.
ABN Amro has posted 17% decline in the operating result for the fourth quarter of 2018, which stood at €643m, compared to €776m in the fourth quarter of 2017.
ABN Amro has posted 22% decline in the income tax expenses for the FY 2018, which stood at €762m, compared to €979m in the fiscal year 2017.
The company has posted 55% decline the income tax expenses for the fourth quarter of 2018, which stood at €119m, compared to €268m in the fourth quarter of 2017
ABN Amro CEO Kees van Dijkhuizen said: “The full-year 2018 net profit was good at €2.3 billion. We are on track to meeting our financial targets for 2020 and reconfirm the targets and guidance given at our Investor Day, despite a somewhat weaker economic outlook. Our capital position strengthened further.
“We therefore propose paying an additional amount of dividend on top of the targeted 50% of sustainable profit. A final dividend of €0.80 per share will be proposed, bringing the proposed total dividend for 2018 to €1.45 per share.”