Monday July 6, 2020

ABN Amro fourth-quarter profit drops as regulatory costs rise

Net income at the Dutch lender declined to €272 million from €400 million a year ago

17th February, 2016
ABN Amro reported a drop in fourth-quarter profit Pic: Getty Images

ABN Amro, the state-controlled Dutch lender that returned to the market in November, reported a 32 per cent drop in fourth-quarter profit as regulatory costs rose.

Net income declined to €272 million, compared with €400 million a year ago, the Amsterdam-based lender said. That fell short of €320 million, the average of seven analyst estimates compiled by Bloomberg.

Regulatory costs, including a bank tax and contributions to national funds for winding down banks and insuring deposits,...

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