From GlobeNewswire: 2024-05-15 10:31:00

ABN AMRO reports a net profit of EUR 674 million in Q1 2024. The strong result was driven by net interest income, fee income, and low risk costs. The bank maintained good business momentum, leading in both mortgage and business loans. Capital position remains strong with CET1 ratio of 13.8% and Basel IV CET1 ratio around 14%.

CEO Robert Swaak highlights the resilience of the Dutch economy amid global uncertainties. ABN AMRO maintained market leadership in mortgages with a 19% share. House prices are near record levels, and the bank expects further increases. Energy labels now impact prices, influencing the extension of the bank’s Sustainable Living Mortgage term to 30 years.

Key figures for Q1 2024 show operating income of EUR 2.197 billion, operating expenses down by 11%, and a net profit of EUR 674 million. The cost/income ratio is at 57.2% and the return on equity at 11.6%. ABN AMRO marks its 200th year by reinforcing its commitment to customer service and innovation, under its new brand promise ‘For every beginning’.



Read more at GlobeNewswire:: ABN AMRO rapporteert nettowinst van EUR 674