Dutch financial services provider ABN Amro has revised its expected earnings and capital ratios for fiscal 2007.
The bank has revealed that it is expecting to deliver an earnings per share of E2.30 on an adjusted basis, while its capital ratios may be marginally below targeted ratios at the end of the third quarter, due to higher demand for capital from businesses.
In addition, ABN Amro is expecting to meet a core tier one capital ratio of 6% and a tier one ratio of 8% by year end 2007, under a normal course of business.
However, the bank has not revised its loan loss provision forecast. As a result, the group is still expecting the loan loss provisioning for its consumer portfolio to increase with the growth of the portfolio, and to see somewhat higher levels of provisioning in the commercial portfolio due to the absence of write-backs and releases.