The bank reported a net profit of €682m for the nine months ended 30 September 2021, compared to a loss of €99m for the same period in 2020
ABN AMRO headquarters in the Zuidas, Amsterdam. (Credit: Migdejong/Wikipedia.)
ABN AMRO has reported a net profit of €343m for the third quarter ended 30 September 2021, a 14% rise compared to €301m for the same period the previous year.
The Dutch bank reported operating expenses of €1.30bn for the third quarter (Q3) 2021, a 4% decline compared to €1.35bn for the corresponding quarter in 2020.
The company reported a net interest income of €1.2bn for Q3 2021, a decrease of 18% compared to €1.4bn for the same period in 2020.
Its return on equity (ROE) for the reported period was 6.5%, which increased from 5.6% for the same period last year.
ABN AMRO CEO Robert Swaak said: “Developments in the third quarter were encouraging: Dutch society has largely reopened and government support has been withdrawn, though the rise in Covid infections remains a concern.
“Demand for lending showed signs of recovery and both our mortgage book and corporate loan book grew. Our clients increasingly focus on the future and we are there to support them through our trusted relationships and expertise.
“We continue to deliver on our agenda as we are well ahead of plan in the wind-down of the CIB non-core portfolio, we have paid out the final 2019 dividend, have agreed a compensation scheme for revolving consumer credit and are simplifying our organisational structure.”
The Dutch bank has reported a net profit of €682m for the nine months ended 30 September 2021, compared to a loss of €99m for the same period in 2020.
It has reported a net interest income of €3.8bn for nine months ended 30 September 2021, a decrease of 14% compared to €4.5bn for the same period last year.
The company has reported an operating income of €5.3bn for nine months ended 2021, a 13% decline compared to €6.1bn for the corresponding period in 2020.
In September this year, ABN AMRO has reached an agreement with the Dutch Consumers’ Association, for compensation of consumers who paid excessive interest on their revolving consumer credits.