ABN Amro profit beats estimates on fees, bad loan provisions

The AEX closed Wednesday with a 0.2% gain at 929.24 points, after having closed six consecutive trading days in the plus. Amsterdam trumps the major European stock exchanges that are posting losses. ABN Amro provided almost 6% gain on strong quarterly figures. Wall Street maintains small pluses, mainly thanks to technology funds. The S&P 500 is therefore moving towards profit for the first time over the year.

ABN AMRO ended the trading day higher in the AEX, the main indicator on the Amsterdam stock exchange, on Wednesday. The bank presented its quarterly results, which showed that the result was better than analysts had expected. This is despite the fact that ABN AMRO made a lower profit in the first quarter of this year than a year earlier. The share climbed 5.5 percent.

ABN Amro profit beats estimates on fees, bad loan provisions

ABN Amro Bank reported first-quarter profit that beat expectations after higher fees and lower-than-forecast provisions for souring loans helped offset the effect of declining interest rates.

The operating revenues were placed at 2,145 million euros, with a decrease of 2.4%. The mortgage portfolio grew by 1,700 million euros and corporate loans by 900 million euros, while it achieved a continuous increase of the commissions by increasing by 8%, up to 507 million, with contributions from all the client units. The CET1 ratio of the bank increased from 14.5% to 14.7%. "In these difficult times, ABN Amro had a good performance, obtaining…

The Dutch bank published quarterly results that exceeded expectations and reached a six-year stock exchange summit for the baptism of the fire of its new executive director.